Assenagon Asset Management S.A. Purchases 79,181 Shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Assenagon Asset Management S.A. grew its position in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 141.8% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 135,003 shares of the company's stock after buying an additional 79,181 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Fomento Económico Mexicano were worth $11,541,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Banque Cantonale Vaudoise bought a new stake in Fomento Económico Mexicano in the third quarter worth about $55,000. Rosenberg Matthew Hamilton grew its holdings in Fomento Económico Mexicano by 30.2% during the fourth quarter. Rosenberg Matthew Hamilton now owns 758 shares of the company's stock valued at $65,000 after purchasing an additional 176 shares during the period. Van ECK Associates Corp increased its position in 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 buying an additional 306 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of Fomento Económico Mexicano by 9.0% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,479 shares of the company's stock valued at $245,000 after buying an additional 204 shares during the last quarter. Finally, MQS Management LLC bought a new position in shares of Fomento Económico Mexicano during the 3rd quarter worth $369,000. Hedge funds and other institutional investors own 61.00% of the company's stock.

Analyst Upgrades and Downgrades

FMX has been the topic of several research reports. StockNews.com upgraded shares of Fomento Económico Mexicano from a "hold" rating to a "buy" rating in a research note on Wednesday, November 6th. Barclays decreased 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 research report on Wednesday, October 30th. Finally, JPMorgan Chase & Co. cut Fomento Económico Mexicano from an "overweight" rating to a "neutral" rating and raised their target price for the stock from $104.00 to $109.00 in a research note on Monday, September 23rd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $126.33.

Fomento Económico Mexicano Stock Performance

NYSE:FMX traded up $0.01 during trading hours on Friday, reaching $82.30. The company had a trading volume of 644,199 shares, compared to its average volume of 345,056. The firm's 50 day moving average price is $87.30 and its 200-day moving average price is $98.53. The firm has a market cap of $29.45 billion, a price-to-earnings ratio of 21.10, a PEG ratio of 4.74 and a beta of 0.90. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37. Fomento Económico Mexicano, S.A.B. de C.V. has a 52 week low of $81.07 and a 52 week high of $143.43.

Fomento Económico Mexicano Increases Dividend

The firm also recently announced a dividend, which was paid on Friday, January 17th. Investors of record on Friday, January 17th were given a dividend of $0.9201 per share. This is a positive change from Fomento Económico Mexicano's previous dividend of $0.74. The ex-dividend date was Friday, January 17th. Fomento Económico Mexicano's payout ratio is 12.82%.

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.