Fomento Económico Mexicano (NYSE:FMX) Posts Earnings Results

Fomento Económico Mexicano (NYSE:FMX) announced its earnings results on Friday. The company reported $0.47 earnings per share for the quarter, reports. Fomento Económico Mexicano had a return on equity of 9.63% and a net margin of 8.53%. The company had revenue of $10.76 billion during the quarter.

Fomento Económico Mexicano Trading Up 3.3 %

FMX traded up $3.82 during midday trading on Friday, reaching $118.93. 1,229,201 shares of the company were exchanged, compared to its average volume of 764,205. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.91 and a quick ratio of 1.60. Fomento Económico Mexicano has a one year low of $91.71 and a one year high of $143.43. The stock’s 50-day simple moving average is $124.96 and its 200 day simple moving average is $125.52.

Fomento Económico Mexicano Increases Dividend

The business also recently announced an annual dividend, which will be paid on Monday, April 29th. Shareholders of record on Wednesday, April 17th will be issued a dividend of $1.115 per share. The ex-dividend date is Tuesday, April 16th. This represents a yield of 0.87%. This is a boost from Fomento Económico Mexicano’s previous annual dividend of $0.74. Fomento Económico Mexicano’s dividend payout ratio (DPR) is 16.80%.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FMX. UBS Group lowered Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research note on Friday, January 12th. HSBC upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating and raised their price target for the company from $124.00 to $152.00 in a report on Friday, February 9th. StockNews.com cut Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a report on Monday, February 26th. Finally, Bank of America reiterated a “neutral” rating on shares of Fomento Económico Mexicano in a report on Monday, February 26th. Five equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $135.75.

Hedge Funds Weigh In On Fomento Económico Mexicano

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SG Americas Securities LLC raised its position in Fomento Económico Mexicano by 8.1% in the 3rd quarter. SG Americas Securities LLC now owns 6,751 shares of the company’s stock valued at $737,000 after buying an additional 507 shares during the last quarter. Caprock Group LLC raised its position in Fomento Económico Mexicano by 11.5% in the 3rd quarter. Caprock Group LLC now owns 3,707 shares of the company’s stock valued at $405,000 after buying an additional 381 shares during the last quarter. Northcape Capital Pty Ltd raised its position in Fomento Económico Mexicano by 49.8% in the 3rd quarter. Northcape Capital Pty Ltd now owns 180,229 shares of the company’s stock valued at $19,672,000 after buying an additional 59,926 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Fomento Económico Mexicano by 53.4% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 735,876 shares of the company’s stock valued at $80,321,000 after buying an additional 256,300 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Fomento Económico Mexicano by 19.8% in the 3rd quarter. Bank of New York Mellon Corp now owns 60,503 shares of the company’s stock valued at $6,604,000 after buying an additional 10,006 shares during the last quarter.

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.