Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) Raises Dividend to $2.00 Per Share

Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) declared a quarterly dividend on Friday, October 3rd. Investors of record on Thursday, October 16th will be paid a dividend of 1.9982 per share on Monday, October 27th. This represents a c) annualized dividend and a yield of 8.6%. The ex-dividend date of this dividend is Thursday, October 16th. This is a 46.7% increase from Fomento Economico Mexicano’s previous quarterly dividend of $1.36.

Fomento Economico Mexicano has a payout ratio of 11.0% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Fomento Economico Mexicano to earn $5.32 per share next year, which means the company should continue to be able to cover its $0.58 annual dividend with an expected future payout ratio of 10.9%.

Fomento Economico Mexicano Stock Down 1.4%

Shares of NYSE FMX opened at $92.48 on Tuesday. The firm’s 50-day simple moving average is $90.56 and its 200 day simple moving average is $97.88. The company has a market cap of $33.09 billion, a price-to-earnings ratio of 31.46, a price-to-earnings-growth ratio of 5.49 and a beta of 0.72. The company has a quick ratio of 1.06, a current ratio of 1.34 and a debt-to-equity ratio of 0.42. Fomento Economico Mexicano has a 12-month low of $81.07 and a 12-month high of $108.74.

Fomento Economico Mexicano (NYSE:FMX) last issued its quarterly earnings results on Monday, July 28th. The company reported $0.42 earnings per share (EPS) for the quarter, missing the consensus estimate 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 return on equity of 5.32% and a net margin of 2.60%. On average, research analysts expect that Fomento Economico Mexicano will post 5.32 earnings per share for the current fiscal year.

Institutional Trading of Fomento Economico Mexicano

Large investors have recently bought and sold shares of the business. Caitong International Asset Management Co. Ltd bought a new stake in Fomento Economico Mexicano during the 1st quarter worth approximately $29,000. Northwestern Mutual Wealth Management Co. increased its stake in Fomento Economico Mexicano by 2,006.3% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock worth $35,000 after purchasing an additional 321 shares in the last quarter. Farther Finance Advisors LLC increased its stake in Fomento Economico Mexicano by 41.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 369 shares of the company’s stock worth $38,000 after purchasing an additional 108 shares in the last quarter. Steward Partners Investment Advisory LLC bought a new stake in Fomento Economico Mexicano during the 2nd quarter worth approximately $40,000. Finally, Tower Research Capital LLC TRC increased its stake in Fomento Economico Mexicano by 42.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock worth $45,000 after purchasing an additional 131 shares in the last quarter. 61.00% of the stock is owned by institutional investors.

Fomento Economico 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.