Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Short Interest Update

Key Points

• Short interest fell 22.9% to 602,188 shares as of April 15, equivalent to 0.2% of shares outstanding and a days-to-cover ratio of 1.5.
• Dividend announced: a quarterly payout of $0.6658 (annualized $2.66) will be paid May 4 with an ex-dividend date of April 22, and the dividend payout ratio is 82.11%.
• Mixed market signals: analysts' consensus is a "Hold" with an average target of $113.17 (three Buys vs. five Holds), while insiders have sold 261,575 shares in the last 90 days and still own 5.68% of the company.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) was the target of a significant decline in short interest during the month of April. As of April 15th, there was short interest totaling 602,188 shares, a decline of 22.9% from the March 31st total of 781,485 shares. Based on an average daily volume of 402,448 shares, the days-to-cover ratio is currently 1.5 days. Currently, 0.2% of the shares of the stock are sold short.

Fomento Economico Mexicano Trading Down 0.6%

Shares of NYSE FMX traded down $0.73 during mid-day trading on Wednesday, hitting $112.95. The stock had a trading volume of 159,466 shares, compared to its average volume of 413,820. The business has a 50 day moving average price of $111.48 and a two-hundred day moving average price of $104.48. Fomento Economico Mexicano has a 1 year low of $83.08 and a 1 year high of $119.21. The company has a debt-to-equity ratio of 0.39, a quick ratio of 1.02 and a current ratio of 1.35. The firm has a market cap of $39.03 billion, a P/E ratio of 39.60, a price-to-earnings-growth ratio of 0.78 and a beta of 0.40.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last announced its quarterly earnings results on Saturday, February 14th. The company reported $1.36 earnings per share for the quarter. The business had revenue of $12.21 billion during the quarter. Fomento Economico Mexicano had a net margin of 2.29% and a return on equity of 6.11%. On average, equities analysts anticipate that Fomento Economico Mexicano will post 4.87 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, May 4th. Stockholders of record on Wednesday, April 22nd will be issued a dividend of $0.6658 per share. This represents a $2.66 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date is Wednesday, April 22nd. Fomento Economico Mexicano's dividend payout ratio is currently 82.11%.

Insider Activity

In other news, Director Garza Alfonso Garza sold 52,311 shares of Fomento Economico Mexicano stock in a transaction on Friday, March 27th. The shares were sold at an average price of $11.19, for a total transaction of $585,360.09. Following the completion of the sale, the director directly owned 1,128,453 shares of the company's stock, valued at approximately $12,627,389.07. The trade was a 4.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 261,575 shares of company stock worth $2,795,188. Insiders own 5.68% of the company's stock.

Institutional Investors Weigh In On Fomento Economico Mexicano

Institutional investors and hedge funds have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Fomento Economico Mexicano by 7.8% in the 4th quarter. EverSource Wealth Advisors LLC now owns 1,330 shares of the company's stock worth $134,000 after buying an additional 96 shares during the last quarter. UMB Bank n.a. lifted its stake in Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company's stock worth $74,000 after acquiring an additional 96 shares during the period. Tower Research Capital LLC TRC lifted its stake in Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company's stock worth $45,000 after acquiring an additional 131 shares during the period. HB Wealth Management LLC boosted its holdings in Fomento Economico Mexicano by 5.8% in the first quarter. HB Wealth Management LLC now owns 2,491 shares of the company's stock valued at $277,000 after acquiring an additional 136 shares in the last quarter. Finally, Arax Advisory Partners boosted its holdings in Fomento Economico Mexicano by 20.1% in the fourth quarter. Arax Advisory Partners now owns 812 shares of the company's stock valued at $82,000 after acquiring an additional 136 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FMX shares. UBS Group increased their price objective on Fomento Economico Mexicano from $109.00 to $122.00 and gave the company a "buy" rating in a research report on Friday, March 20th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Fomento Economico Mexicano in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on Fomento Economico Mexicano from $98.00 to $117.00 and gave the company a "neutral" rating in a research note on Monday, April 20th. The Goldman Sachs Group lifted their price objective on Fomento Economico Mexicano from $113.00 to $128.00 and gave the stock a "buy" rating in a report on Wednesday, February 11th. Finally, Wall Street Zen raised Fomento Economico Mexicano from a "hold" rating to a "buy" rating in a research note on Saturday. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $113.17.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA's operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company's business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company's retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.

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