Aigen Investment Management LP grew its holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 173.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,800 shares of the company's stock after purchasing an additional 10,667 shares during the quarter. Aigen Investment Management LP's holdings in Fomento Económico Mexicano were worth $1,658,000 as of its most recent filing with the SEC.
A number of other institutional investors have also made changes to their positions in FMX. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in Fomento Económico Mexicano in the 2nd quarter valued at approximately $51,000. Van ECK Associates Corp grew its stake in shares of Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company's stock worth $78,000 after acquiring an additional 306 shares during the last quarter. CWM LLC increased its position in Fomento Económico Mexicano by 28.7% during the second quarter. CWM LLC now owns 956 shares of the company's stock worth $103,000 after acquiring an additional 213 shares during the period. EverSource Wealth Advisors LLC raised its stake in Fomento Económico Mexicano by 8.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,279 shares of the company's stock valued at $167,000 after purchasing an additional 105 shares during the last quarter. Finally, Contravisory Investment Management Inc. bought a new stake in Fomento Económico Mexicano in the 2nd quarter valued at $163,000.
FMX has been the topic of several research reports. JPMorgan Chase & Co. downgraded shares of 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. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research report on Wednesday, November 6th. Finally, Barclays dropped their price target on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an "overweight" rating for the company in a research report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $128.25.
Check Out Our Latest Report on Fomento Económico Mexicano
NYSE:FMX traded down $0.67 on Tuesday, reaching $95.53. The stock had a trading volume of 6,196 shares, compared to its average volume of 682,976. The company has a quick ratio of 1.44, a current ratio of 1.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $34.18 billion, a P/E ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. Fomento Económico Mexicano, S.A.B. de C.V. has a 1-year low of $93.32 and a 1-year high of $143.43. The stock has a fifty day moving average price of $99.23 and a 200-day moving average price of $107.68.
The firm also recently declared an annual dividend, which was paid on Monday, October 28th. Investors of record on Wednesday, October 16th were given a dividend of $0.864 per share. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a yield of 0.87%. Fomento Económico Mexicano's dividend payout ratio (DPR) is presently 12.82%.
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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