Aigen Investment Management LP Boosts Stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Aigen Investment Management LP raised its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 20.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,199 shares of the company’s stock after purchasing an additional 3,399 shares during the quarter. Aigen Investment Management LP’s holdings in Fomento Económico Mexicano were worth $1,727,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in Fomento Económico Mexicano by 61.7% in the third quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock valued at $78,000 after buying an additional 306 shares during the period. Easterly Investment Partners LLC raised its stake in shares of Fomento Económico Mexicano by 481.3% in the 3rd quarter. Easterly Investment Partners LLC now owns 101,123 shares of the company’s stock valued at $9,982,000 after acquiring an additional 83,726 shares during the period. INCA Investments LLC lifted its holdings in shares of Fomento Económico Mexicano by 12.6% during the 3rd quarter. INCA Investments LLC now owns 236,565 shares of the company’s stock valued at $23,351,000 after acquiring an additional 26,414 shares in the last quarter. Baillie Gifford & Co. boosted its position in Fomento Económico Mexicano by 10.8% during the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock worth $425,118,000 after purchasing an additional 421,057 shares during the period. Finally, Cumberland Partners Ltd increased its holdings in Fomento Económico Mexicano by 10.5% in the 3rd quarter. Cumberland Partners Ltd now owns 21,000 shares of the company’s stock valued at $2,073,000 after purchasing an additional 2,000 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Fomento Económico Mexicano Trading Down 0.3 %

Shares of FMX opened at $93.07 on Wednesday. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.07 and a one year high of $131.56. The stock has a 50-day moving average price of $86.86 and a 200 day moving average price of $93.13. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. The company has a market capitalization of $33.30 billion, a P/E ratio of 23.86, a P/E/G ratio of 5.26 and a beta of 0.90.

Fomento Económico Mexicano (NYSE:FMX) last released its earnings results on Thursday, February 27th. The company reported $0.46 EPS for the quarter, missing the consensus estimate of $1.51 by ($1.05). The business had revenue of $9.99 billion for the quarter, compared to analysts’ expectations of $201.67 billion. Fomento Económico Mexicano had a net margin of 3.22% and a return on equity of 8.37%. Sell-side analysts forecast that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 EPS for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The business also recently announced a dividend, which was paid on Friday, January 17th. Stockholders of record on Friday, January 17th were given a $0.9201 dividend. The ex-dividend date of this dividend was Friday, January 17th. This is an increase from Fomento Económico Mexicano’s previous dividend of $0.74. Fomento Económico Mexicano’s payout ratio is presently 11.03%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on FMX shares. StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research note on Wednesday, November 6th. The Goldman Sachs Group dropped their target price on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a report on Tuesday, January 28th. Finally, Barclays upped their price target on Fomento Económico Mexicano from $99.00 to $102.00 and gave the stock an “equal weight” rating in a report on Tuesday.

About Fomento Económico Mexicano

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.