Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Sees Significant Increase in Short Interest

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) was the target of a large growth in short interest in January. As of January 31st, there was short interest totalling 1,070,000 shares, a growth of 41.6% from the January 15th total of 755,700 shares. Approximately 0.5% of the shares of the stock are short sold. Based on an average trading volume of 515,200 shares, the days-to-cover ratio is presently 2.1 days.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on FMX. The Goldman Sachs Group cut their price objective on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating for the company in a research report on Tuesday, January 28th. Barclays downgraded shares of Fomento Económico Mexicano from an “overweight” rating to an “equal weight” rating in a research note on Tuesday, January 21st. Finally, StockNews.com raised shares of Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Wednesday, November 6th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $108.27.

Institutional Investors Weigh In On Fomento Económico Mexicano

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FMX. Brooklyn Investment Group grew its position in shares of Fomento Económico Mexicano by 82.8% during the 4th quarter. Brooklyn Investment Group now owns 340 shares of the company’s stock worth $29,000 after buying an additional 154 shares during the period. Banque Cantonale Vaudoise bought a new stake in Fomento Económico Mexicano in the third quarter valued at approximately $55,000. Mather Group LLC. increased its stake in Fomento Económico Mexicano by 179.1% in the fourth quarter. Mather Group LLC. now owns 575 shares of the company’s stock valued at $49,000 after purchasing an additional 369 shares in the last quarter. Exchange Traded Concepts LLC acquired a new stake in Fomento Económico Mexicano in the fourth quarter worth $51,000. Finally, Rosenberg Matthew Hamilton boosted its position in shares of Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company’s stock worth $65,000 after purchasing an additional 176 shares in the last quarter. Institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Trading Up 1.5 %

FMX opened at $91.10 on Friday. The firm has a 50 day simple moving average of $86.08 and a 200 day simple moving average of $94.95. Fomento Económico Mexicano has a fifty-two week low of $81.07 and a fifty-two week high of $143.43. The company has a market cap of $32.59 billion, a price-to-earnings ratio of 23.36, a price-to-earnings-growth ratio of 5.18 and a beta of 0.90. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

Fomento Económico Mexicano Increases Dividend

The business also recently declared a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. This is a positive change from Fomento Económico Mexicano’s previous dividend of $0.74. The ex-dividend date of this dividend was Friday, January 17th. Fomento Económico Mexicano’s dividend payout ratio (DPR) is currently 11.79%.

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.