Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX – Get Free Report) announced an annual dividend on Wednesday, October 2nd, Zacks reports. Stockholders of record on Wednesday, October 16th will be paid a dividend of 0.864 per share on Monday, October 28th. This represents a dividend yield of 0.87%. The ex-dividend date of this dividend is Wednesday, October 16th.
Fomento Económico Mexicano has raised its dividend payment by an average of 12.8% annually over the last three years. Fomento Económico Mexicano has a dividend payout ratio of 18.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Fomento Económico Mexicano to earn $5.50 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 18.5%.
Fomento Económico Mexicano Price Performance
Shares of NYSE:FMX traded down $0.23 during trading on Friday, hitting $98.66. 24,704 shares of the stock were exchanged, compared to its average volume of 686,607. The company has a market cap of $35.30 billion, a PE ratio of 26.79, a P/E/G ratio of 5.75 and a beta of 0.94. The company has a current ratio of 1.72, a quick ratio of 1.44 and a debt-to-equity ratio of 0.36. The company has a fifty day moving average price of $105.18 and a two-hundred day moving average price of $113.11. Fomento Económico Mexicano has a 12-month low of $97.58 and a 12-month high of $143.43.
Analyst Upgrades and Downgrades
Several brokerages recently issued reports on FMX. JPMorgan Chase & Co. downgraded shares of Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and upped their price objective for the company from $104.00 to $109.00 in a research note on Monday, September 23rd. StockNews.com downgraded Fomento Económico Mexicano from a “buy” rating to a “hold” rating in a research report on Monday, September 23rd. Finally, Barclays decreased their target price on Fomento Económico Mexicano from $160.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, July 15th. Six research analysts have rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $133.40.
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.
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