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

Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) declared an annual dividend on Wednesday, October 2nd, Zacks reports. Investors of record on Wednesday, October 16th will be given 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 increased its dividend payment by an average of 12.8% per year over the last three years. Fomento Económico Mexicano has a dividend payout ratio of 17.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Fomento Económico Mexicano to earn $5.62 per share next year, which means the company should continue to be able to cover its $0.96 annual dividend with an expected future payout ratio of 17.1%.

Fomento Económico Mexicano Stock Performance

Fomento Económico Mexicano stock opened at $98.69 on Tuesday. The stock has a 50-day simple moving average of $103.76 and a 200 day simple moving average of $111.39. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. Fomento Económico Mexicano has a 12-month low of $97.58 and a 12-month high of $143.43. The stock has a market capitalization of $35.31 billion, a price-to-earnings ratio of 26.75, a P/E/G ratio of 5.60 and a beta of 0.94.

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, research analysts anticipate that Fomento Económico Mexicano will post 5.41 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on FMX. Barclays cut their price target on Fomento Económico Mexicano from $145.00 to $125.00 and set an “overweight” rating for the company in a report on Monday. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and boosted their price objective for the stock from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a report on Thursday, October 10th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $129.40.

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.