Assenagon Asset Management S.A. Increases Holdings in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Assenagon Asset Management S.A. increased its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 141.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,003 shares of the company’s stock after purchasing an additional 79,181 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Fomento Económico Mexicano were worth $11,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. B. Metzler seel. Sohn & Co. Holding AG bought a new position in Fomento Económico Mexicano in the 3rd quarter worth approximately $7,672,000. BNP Paribas Financial Markets boosted its position in shares of Fomento Económico Mexicano by 107.7% during the third quarter. BNP Paribas Financial Markets now owns 326,302 shares of the company’s stock worth $32,209,000 after acquiring an additional 169,184 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of Fomento Económico Mexicano by 740.2% during the second quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 472,200 shares of the company’s stock worth $50,832,000 after acquiring an additional 416,000 shares during the last quarter. Perpetual Ltd grew its stake in Fomento Económico Mexicano by 9.4% during the third quarter. Perpetual Ltd now owns 746,826 shares of the company’s stock valued at $73,719,000 after acquiring an additional 64,291 shares in the last quarter. Finally, Baillie Gifford & Co. increased its holdings in Fomento Económico Mexicano by 10.8% in the 3rd quarter. Baillie Gifford & Co. now owns 4,306,739 shares of the company’s stock valued at $425,118,000 after acquiring an additional 421,057 shares during the last quarter. Institutional investors own 61.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on FMX. Barclays cut their price objective on 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. JPMorgan Chase & Co. cut Fomento Económico Mexicano from an “overweight” rating to a “neutral” rating and raised their price target for the company from $104.00 to $109.00 in a report on Monday, September 23rd. Finally, StockNews.com upgraded Fomento Económico Mexicano from a “hold” rating to a “buy” rating in a research report on Wednesday, November 6th. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $126.33.

Fomento Económico Mexicano Trading Up 0.0 %

Shares of FMX stock opened at $82.30 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a 1 year low of $81.07 and a 1 year high of $143.43. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32. The stock’s 50 day simple moving average is $87.30 and its two-hundred day simple moving average is $98.59. The company has a market cap of $29.45 billion, a PE ratio of 21.10, a price-to-earnings-growth ratio of 4.74 and a beta of 0.90.

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 dividend of $0.9201 per share. The ex-dividend date 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 currently 12.82%.

Fomento Económico Mexicano 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.