Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Short Interest Up 79.5% in August

Key Points

• Fomento Economico Mexicano experienced a significant increase in short interest, rising 79.5% to 1,080,000 shares as of August 31st, representing approximately 0.5% of the company's shares sold short.
• Analyst ratings vary, with UBS Group increasing the price target to $115 and a "neutral" rating, while Zacks Research downgraded the stock to "strong sell", reflecting differing outlooks among analysts.
• The company recently announced a quarterly dividend of $1.3625, an increase from its previous dividend of $0.73, which provides a 5.9% annualized yield for investors.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 1,080,000 shares, a growth of 79.5% from the August 15th total of 601,700 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 831,900 shares, the days-to-cover ratio is presently 1.3 days. Based on an average daily trading volume, of 831,900 shares, the days-to-cover ratio is presently 1.3 days. Currently, 0.5% of the shares of the company are short sold.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Osaic Holdings Inc. boosted its position in shares of Fomento Economico Mexicano by 446.4% during the second quarter. Osaic Holdings Inc. now owns 2,568 shares of the company's stock worth $260,000 after acquiring an additional 2,098 shares during the last quarter. Orion Porfolio Solutions LLC boosted its position in shares of Fomento Economico Mexicano by 17.6% during the second quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company's stock worth $631,000 after acquiring an additional 919 shares during the last quarter. Nomura Holdings Inc. boosted its position in shares of Fomento Economico Mexicano by 62.0% during the second quarter. Nomura Holdings Inc. now owns 23,878 shares of the company's stock worth $2,459,000 after acquiring an additional 9,140 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Fomento Economico Mexicano by 42.5% during the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock valued at $45,000 after purchasing an additional 131 shares in the last quarter. Finally, Captrust Financial Advisors raised its stake in Fomento Economico Mexicano by 5.7% during the second quarter. Captrust Financial Advisors now owns 16,917 shares of the company's stock valued at $1,742,000 after purchasing an additional 916 shares in the last quarter. Institutional investors own 61.00% of the company's stock.

Fomento Economico Mexicano Price Performance

Shares of NYSE:FMX traded up $3.69 during midday trading on Friday, reaching $96.38. 1,666,057 shares of the company were exchanged, compared to its average volume of 812,509. The company has a current ratio of 1.34, a quick ratio of 1.06 and a debt-to-equity ratio of 0.42. The business's fifty day moving average is $90.34 and its two-hundred day moving average is $98.07. Fomento Economico Mexicano has a one year low of $81.07 and a one year high of $108.74. The stock has a market cap of $34.48 billion, a PE ratio of 32.78, a price-to-earnings-growth ratio of 5.43 and a beta of 0.70.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last issued its earnings results on Monday, July 28th. The company reported $0.42 earnings per share for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). Fomento Economico Mexicano had a return on equity of 5.32% and a net margin of 2.60%.The company had revenue of $11.27 billion for the quarter, compared to the consensus estimate of $216.71 billion. As a group, analysts predict that Fomento Economico Mexicano will post 5.32 earnings per share for the current year.

Fomento Economico Mexicano Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 28th. Investors of record on Thursday, July 17th were given a dividend of $1.3625 per share. This is a positive change from Fomento Economico Mexicano's previous quarterly dividend of $0.73. This represents a $5.45 dividend on an annualized basis and a dividend yield of 5.7%. The ex-dividend date was Thursday, July 17th. Fomento Economico Mexicano's dividend payout ratio (DPR) is currently 74.83%.

Analyst Ratings Changes

Several analysts recently issued reports on FMX shares. JPMorgan Chase & Co. boosted their target price on shares of Fomento Economico Mexicano from $95.00 to $96.00 and gave the company a "neutral" rating in a research report on Monday. Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 price target (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday, August 19th. Barclays dropped their price target on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating for the company in a research report on Thursday, July 31st. Citigroup upgraded shares of Fomento Economico Mexicano from a "neutral" rating to a "buy" rating and upped their price target for the stock from $93.00 to $97.00 in a research report on Tuesday, September 9th. Finally, Zacks Research lowered shares of Fomento Economico Mexicano from a "hold" rating to a "strong sell" rating in a research report on Friday, September 5th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, Fomento Economico Mexicano presently has a consensus rating of "Hold" and an average price target of $100.97.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V., through its subsidiaries, operates as a bottler of Coca-Cola trademark beverages. The company produces, markets, and distributes Coca-Cola trademark beverages in Mexico, Guatemala, Nicaragua, Costa Rica, Panama, Colombia, Venezuela, Brazil, Argentina, and Uruguay.