Short Interest in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Declines By 34.8%

Key Points

• Short interest in Fomento Economico Mexicano S.A.B. de C.V. dropped by 34.8% in July, with a total of 861,300 shares sold short as of July 31st.
• The company reported a missed earnings estimate with an EPS of $0.42 for the quarter, falling short of the expected $0.91.
• Fomento Economico Mexicano announced an increase in its dividend to $1.3625 per share, significantly up from the previous $0.73.

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX - Get Free Report) saw a large decline in short interest in July. As of July 31st, there was short interest totaling 861,300 shares, adeclineof34.8% from the July 15th total of 1,320,000 shares. Approximately0.4% of the shares of the stock are sold short. Based on an average daily volume of 652,300 shares, the short-interest ratio is currently 1.3 days. Based on an average daily volume of 652,300 shares, the short-interest ratio is currently 1.3 days. Approximately0.4% of the shares of the stock are sold short.

Fomento Economico Mexicano Trading Down 0.9%

Shares of NYSE FMX traded down $0.8050 on Tuesday, reaching $84.5050. 2,001,756 shares of the company traded hands, compared to its average volume of 651,487. Fomento Economico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $114.13. The company has a 50 day moving average of $97.51 and a 200 day moving average of $98.40. 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 stock has a market capitalization of $30.24 billion, a PE ratio of 28.74, a P/E/G ratio of 4.02 and a beta of 0.66.

Fomento Economico Mexicano (NYSE:FMX - Get Free Report) last posted its quarterly earnings data on Monday, July 28th. The company reported $0.42 EPS for the quarter, missing analysts' consensus estimates of $0.91 by ($0.49). The company had revenue of $11.27 billion for the quarter, compared to analyst estimates of $216.71 billion. Fomento Economico Mexicano had a net margin of 2.60% and a return on equity of 5.32%. On average, equities research analysts forecast that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently announced a -- 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 boost from Fomento Economico Mexicano's previous -- dividend of $0.73. The ex-dividend date of this dividend was Thursday, July 17th. This represents a yield of 200.0%. Fomento Economico Mexicano's dividend payout ratio is currently 74.83%.

Analyst Ratings Changes

Several equities research analysts have commented on the stock. Barclays decreased their target price on shares of Fomento Economico Mexicano from $110.00 to $107.00 and set an "equal weight" rating on the stock in a research report on Thursday, July 31st. UBS Group boosted their target price on shares of Fomento Economico Mexicano from $112.00 to $115.00 and gave the stock a "neutral" rating in a research report on Thursday, July 10th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a "buy" rating to a "hold" rating in a research report on Wednesday, April 30th. Finally, Morgan Stanley reiterated an "equal weight" rating and issued a $97.00 price objective (down from $132.00) on shares of Fomento Economico Mexicano in a research report on Tuesday. Two analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $105.16.

Hedge Funds Weigh In On Fomento Economico Mexicano

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Nomura Holdings Inc. boosted its holdings in Fomento Economico Mexicano by 62.0% in the 2nd 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 period. Tower Research Capital LLC TRC increased its position 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 buying an additional 131 shares during the period. Captrust Financial Advisors grew its holdings in Fomento Economico Mexicano by 5.7% in the 2nd quarter. Captrust Financial Advisors now owns 16,917 shares of the company's stock worth $1,742,000 after buying an additional 916 shares in the last quarter. Smartleaf Asset Management LLC increased its holdings in shares of Fomento Economico Mexicano by 49.0% during the second quarter. Smartleaf Asset Management LLC now owns 1,170 shares of the company's stock valued at $119,000 after purchasing an additional 385 shares during the period. Finally, Orion Porfolio Solutions LLC lifted its holdings in Fomento Economico Mexicano by 17.6% in the second quarter. Orion Porfolio Solutions LLC now owns 6,127 shares of the company's stock worth $631,000 after purchasing an additional 919 shares during the period. Hedge funds and other institutional investors own 61.00% of the company's stock.

About Fomento Economico Mexicano

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.