Fomento Economico Mexicano (NYSE:FMX) Announces Earnings Results, Beats Estimates By $0.01 EPS

Fomento Economico Mexicano (NYSE:FMX) posted its quarterly earnings data on Tuesday. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.01, FiscalAI reports. The company had revenue of $13.20 billion during the quarter, compared to analysts’ expectations of $12.94 billion. Fomento Economico Mexicano had a return on equity of 7.33% and a net margin of 3.40%.

Fomento Economico Mexicano Stock Down 0.9%

NYSE:FMX opened at $130.96 on Tuesday. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.16 and a quick ratio of 0.87. Fomento Economico Mexicano has a 1-year low of $83.08 and a 1-year high of $134.52. The company has a 50-day moving average of $126.01 and a 200 day moving average of $116.42. The firm has a market cap of $45.25 billion, a PE ratio of 29.47, a price-to-earnings-growth ratio of 0.69 and a beta of 0.41.

Fomento Economico Mexicano Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, July 27th. Investors of record on Wednesday, July 15th were paid a $1.827 dividend. This represents a $7.31 dividend on an annualized basis and a yield of 5.6%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $0.67. The ex-dividend date of this dividend was Wednesday, July 15th. Fomento Economico Mexicano’s payout ratio is currently 54.36%.

Institutional Investors Weigh In On Fomento Economico Mexicano

Several large investors have recently modified their holdings of the business. Compound Planning Inc. boosted its stake in shares of Fomento Economico Mexicano by 13.3% during the fourth quarter. Compound Planning Inc. now owns 4,311 shares of the company’s stock valued at $436,000 after purchasing an additional 506 shares in the last quarter. Invesco Ltd. raised its stake in Fomento Economico Mexicano by 18.9% in the fourth quarter. Invesco Ltd. now owns 1,244,820 shares of the company’s stock worth $125,814,000 after buying an additional 197,914 shares in the last quarter. Corient Private Wealth LLC raised its stake in Fomento Economico Mexicano by 6.6% in the fourth quarter. Corient Private Wealth LLC now owns 4,891 shares of the company’s stock worth $493,000 after buying an additional 301 shares in the last quarter. Empowered Funds LLC purchased a new stake in Fomento Economico Mexicano during the fourth quarter worth $2,205,000. Finally, Millennium Management LLC lifted its holdings in Fomento Economico Mexicano by 31.0% during the fourth quarter. Millennium Management LLC now owns 175,618 shares of the company’s stock worth $17,750,000 after buying an additional 41,593 shares during the period. Institutional investors own 61.00% of the company’s stock.

Analyst Upgrades and Downgrades

FMX has been the subject of several research analyst reports. Wall Street Zen downgraded Fomento Economico Mexicano from a “buy” rating to a “hold” rating in a research report on Saturday, July 18th. UBS Group upped their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the stock a “buy” rating in a report on Thursday, May 28th. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a report on Thursday, April 30th. Finally, Barclays boosted their price objective on shares of Fomento Economico Mexicano from $125.00 to $130.00 and gave the company an “equal weight” rating in a research report on Tuesday, July 14th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $119.50.

About Fomento Economico Mexicano

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.