Black Creek Investment Management Inc. Decreases Position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX)

Black Creek Investment Management Inc. cut its stake in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,004,674 shares of the company’s stock after selling 8,886 shares during the quarter. Fomento Económico Mexicano accounts for about 4.1% of Black Creek Investment Management Inc.’s holdings, making the stock its 10th biggest holding. Black Creek Investment Management Inc. owned approximately 0.28% of Fomento Económico Mexicano worth $85,890,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. bought a new position in shares of Fomento Económico Mexicano during the 4th quarter valued at about $813,000. Invesco Ltd. grew its position in Fomento Económico Mexicano by 73.7% during the fourth quarter. Invesco Ltd. now owns 405,757 shares of the company’s stock valued at $34,688,000 after acquiring an additional 172,186 shares during the last quarter. Employees Retirement System of Texas raised its stake in shares of Fomento Económico Mexicano by 3.3% during the fourth quarter. Employees Retirement System of Texas now owns 486,584 shares of the company’s stock worth $41,598,000 after acquiring an additional 15,488 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Fomento Económico Mexicano by 15.4% in the 4th quarter. Cerity Partners LLC now owns 10,983 shares of the company’s stock worth $939,000 after acquiring an additional 1,463 shares during the last quarter. Finally, FMR LLC boosted its stake in shares of Fomento Económico Mexicano by 540.3% in the 4th quarter. FMR LLC now owns 3,147,544 shares of the company’s stock valued at $269,084,000 after purchasing an additional 2,655,962 shares in the last quarter. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Fomento Económico Mexicano Trading Up 1.8 %

NYSE FMX opened at $98.44 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.32 and a current ratio of 1.62. Fomento Económico Mexicano, S.A.B. de C.V. has a fifty-two week low of $81.08 and a fifty-two week high of $125.27. The stock has a market cap of $35.22 billion, a P/E ratio of 25.24, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The stock has a 50 day simple moving average of $94.63 and a two-hundred day simple moving average of $92.04.

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

Analysts Set New Price Targets

FMX has been the topic of a number of analyst reports. Itau BBA Securities upgraded shares of Fomento Económico Mexicano from a “market perform” rating to an “outperform” rating in a research report on Monday, April 7th. Barclays increased their target price on Fomento Económico Mexicano from $99.00 to $102.00 and gave the company an “equal weight” rating in a report on Tuesday, March 4th. The Goldman Sachs Group reduced their price target on Fomento Económico Mexicano from $109.00 to $97.80 and set a “buy” rating on the stock in a research report on Tuesday, January 28th. Finally, UBS Group boosted their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a “neutral” rating in a research report on Friday, March 14th. Three investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $103.95.

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.