Aigen Investment Management LP Has $1.66 Million Stock Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Aigen Investment Management LP grew its stake in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 173.9% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 16,800 shares of the company’s stock after buying 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 SEC filing.

Other large investors also recently made changes to their positions in the company. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in Fomento Económico Mexicano in the 2nd quarter valued at $51,000. Van ECK Associates Corp increased its holdings in Fomento Económico Mexicano by 61.7% during the 3rd quarter. Van ECK Associates Corp now owns 802 shares of the company’s stock worth $78,000 after purchasing an additional 306 shares in the last quarter. CWM LLC raised its stake in shares of Fomento Económico Mexicano by 28.7% in the 2nd quarter. CWM LLC now owns 956 shares of the company’s stock valued at $103,000 after purchasing an additional 213 shares during the period. EverSource Wealth Advisors LLC lifted its holdings in shares of Fomento Económico Mexicano by 8.9% in the first 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 in the last quarter. Finally, Contravisory Investment Management Inc. acquired a new position in shares of Fomento Económico Mexicano during the second quarter worth about $163,000.

Fomento Económico Mexicano Stock Performance

Shares of NYSE FMX traded down $0.67 during midday trading on Tuesday, hitting $95.53. 6,196 shares of the company’s stock were exchanged, compared to its average volume of 682,976. The firm has a market capitalization of $34.18 billion, a PE ratio of 24.68, a price-to-earnings-growth ratio of 5.67 and a beta of 0.94. The company’s 50 day moving average price is $99.23 and its 200 day moving average price is $107.68. Fomento Económico Mexicano, S.A.B. de C.V. has a 12 month low of $93.32 and a 12 month high of $143.43. 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 Cuts Dividend

The firm also recently announced an annual dividend, which was paid on Monday, October 28th. Stockholders of record on Wednesday, October 16th were given a $0.864 dividend. The ex-dividend date of this dividend was Wednesday, October 16th. This represents a dividend yield of 0.87%. Fomento Económico Mexicano’s payout ratio is presently 12.82%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. StockNews.com raised Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. JPMorgan Chase & Co. downgraded Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and increased their price objective for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, Barclays lowered their target price on shares of Fomento Económico Mexicano from $125.00 to $118.00 and set an “overweight” rating on the stock in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, Fomento Económico Mexicano presently has an average rating of “Hold” and an average target price of $128.25.

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.