Fomento Económico Mexicano, S.A.B. de C.V. to Issue Annual Dividend of $0.86 (NYSE:FMX)

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) 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.

Fomento Económico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, July 24th. The company reported $1.87 earnings per share (EPS) for the quarter. Fomento Económico Mexicano had a return on equity of 8.65% and a net margin of 3.75%. The business had revenue of $11.54 billion during the quarter. On average, analysts forecast that Fomento Económico Mexicano will post 5.39 EPS for the current year.

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.