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

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was the target of a significant decrease in short interest in the month of January. As of January 15th, there was short interest totalling 755,700 shares, a decrease of 12.7% from the December 31st total of 865,800 shares. Based on an average daily trading volume, of 551,900 shares, the short-interest ratio is presently 1.4 days. Currently, 0.4% of the shares of the company are sold short.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Barclays lowered Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a report on Tuesday, January 21st. Finally, The Goldman Sachs Group cut their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research note on Tuesday. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Fomento Económico Mexicano presently has an average rating of “Moderate Buy” and a consensus price target of $119.20.

Fomento Económico Mexicano Price Performance

Fomento Económico Mexicano stock opened at $85.29 on Friday. The firm’s 50-day moving average is $86.29 and its two-hundred day moving average is $97.00. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock has a market capitalization of $30.52 billion, a P/E ratio of 21.87, a P/E/G ratio of 5.00 and a beta of 0.90. Fomento Económico Mexicano has a 12-month low of $81.07 and a 12-month high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were paid a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio is presently 11.79%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Fomento Económico Mexicano in the third quarter valued at $7,672,000. BNP Paribas Financial Markets lifted its stake in shares of Fomento Económico Mexicano by 107.7% in the 3rd quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock valued at $32,209,000 after purchasing an additional 169,184 shares in the last quarter. Perpetual Ltd grew its holdings in shares of Fomento Económico Mexicano by 9.4% during the 3rd quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock worth $73,719,000 after purchasing an additional 64,291 shares during the period. Baillie Gifford & Co. grew its holdings in shares of Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares during the period. Finally, Park Avenue Securities LLC acquired a new stake in Fomento Económico Mexicano during the 4th quarter worth approximately $225,000. Institutional investors and hedge funds own 61.00% of the company’s stock.

Fomento Económico 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.