Fomento Económico Mexicano, S.A.B. de C.V. (FMX) To Go Ex-Dividend on April 16th

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) declared an annual dividend on Tuesday, April 9th, Zacks reports. Investors of record on Wednesday, April 17th will be paid a dividend of 1.115 per share on Monday, April 29th. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend is Tuesday, April 16th. This is a positive change from Fomento Económico Mexicano’s previous annual dividend of $0.74.

Fomento Económico Mexicano has raised its dividend payment by an average of 12.3% annually over the last three years. Fomento Económico Mexicano has a payout ratio of 31.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Económico Mexicano to earn $6.14 per share next year, which means the company should continue to be able to cover its $2.09 annual dividend with an expected future payout ratio of 34.0%.

Fomento Económico Mexicano Stock Performance

Shares of FMX stock opened at $124.24 on Friday. Fomento Económico Mexicano has a 12 month low of $91.71 and a 12 month high of $143.43. The company has a current ratio of 1.91, a quick ratio of 1.60 and a debt-to-equity ratio of 0.33. The business’s 50 day moving average is $129.20 and its two-hundred day moving average is $124.74.

Fomento Económico Mexicano (NYSE:FMX) last posted its quarterly earnings data on Friday, February 23rd. The company reported $1.07 earnings per share (EPS) for the quarter. The business had revenue of $11.23 billion during the quarter, compared to the consensus estimate of $11.21 billion. Fomento Económico Mexicano had a net margin of 8.53% and a return on equity of 9.63%. Sell-side analysts predict that Fomento Económico Mexicano will post 5.7 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on FMX. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, February 26th. UBS Group downgraded Fomento Económico Mexicano from a “buy” rating to a “neutral” rating in a research report on Friday, January 12th. HSBC raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating and increased their price objective for the company from $124.00 to $152.00 in a research report on Friday, February 9th. Finally, Bank of America reaffirmed a “neutral” rating on shares of Fomento Económico Mexicano in a research report on Monday, February 26th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $135.75.

Institutional Trading of Fomento Económico Mexicano

A number of hedge funds have recently modified their holdings of the company. Advisory Services Network LLC raised its stake in shares of Fomento Económico Mexicano by 44.3% in the first quarter. Advisory Services Network LLC now owns 342 shares of the company’s stock valued at $33,000 after purchasing an additional 105 shares in the last quarter. First Horizon Advisors Inc. increased its holdings in Fomento Económico Mexicano by 14.3% in the 1st quarter. First Horizon Advisors Inc. now owns 1,052 shares of the company’s stock valued at $100,000 after buying an additional 132 shares during the period. Stephens Inc. AR raised its stake in shares of Fomento Económico Mexicano by 3.5% in the 4th quarter. Stephens Inc. AR now owns 4,226 shares of the company’s stock valued at $551,000 after buying an additional 144 shares in the last quarter. Castleview Partners LLC boosted its position in shares of Fomento Económico Mexicano by 51.2% during the 2nd quarter. Castleview Partners LLC now owns 434 shares of the company’s stock valued at $48,000 after acquiring an additional 147 shares in the last quarter. Finally, Eaton Vance Management increased its stake in Fomento Económico Mexicano by 7.1% in the first quarter. Eaton Vance Management now owns 2,751 shares of the company’s stock valued at $228,000 after acquiring an additional 182 shares during the period.

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.