Black Creek Investment Management Inc. Cuts Stock Holdings in Fomento Economico Mexicano S.A.B. de C.V. $FMX

Black Creek Investment Management Inc. lowered its stake in shares of Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.2% during the fourth quarter, HoldingsChannel.com reports. The firm owned 717,562 shares of the company’s stock after selling 47,189 shares during the period. Fomento Economico Mexicano comprises approximately 3.6% of Black Creek Investment Management Inc.’s holdings, making the stock its 12th biggest holding. Black Creek Investment Management Inc.’s holdings in Fomento Economico Mexicano were worth $72,524,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of the stock. Atlas Capital Advisors Inc. purchased a new position in shares of Fomento Economico Mexicano in the 4th quarter valued at $50,000. Kestra Advisory Services LLC raised its stake in shares of Fomento Economico Mexicano by 5.2% in the 4th quarter. Kestra Advisory Services LLC now owns 3,864 shares of the company’s stock valued at $391,000 after acquiring an additional 190 shares during the period. UMB Bank n.a. raised its stake in shares of Fomento Economico Mexicano by 15.1% in the 4th quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after acquiring an additional 96 shares during the period. Stifel Financial Corp raised its stake in shares of Fomento Economico Mexicano by 22.2% in the 4th quarter. Stifel Financial Corp now owns 21,072 shares of the company’s stock valued at $2,130,000 after acquiring an additional 3,829 shares during the period. Finally, PCM Encore LLC purchased a new position in shares of Fomento Economico Mexicano in the 4th quarter valued at $461,000. Hedge funds and other institutional investors own 61.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Weiss Ratings raised shares of Fomento Economico Mexicano from a “hold (c-)” rating to a “hold (c)” rating in a research note on Monday, May 11th. Zacks Research raised shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research note on Monday, May 11th. Barclays raised their target price on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Finally, UBS Group raised their target price on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Fomento Economico Mexicano has an average rating of “Moderate Buy” and an average price target of $117.17.

Fomento Economico Mexicano Price Performance

FMX opened at $129.48 on Friday. The company has a fifty day simple moving average of $119.34 and a 200 day simple moving average of $110.32. The firm has a market cap of $44.74 billion, a price-to-earnings ratio of 28.97, a PEG ratio of 0.75 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a twelve month low of $83.08 and a twelve month high of $130.55. The company has a current ratio of 1.16, a quick ratio of 0.87 and a debt-to-equity ratio of 0.47.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Tuesday, March 31st. The company reported $2.43 earnings per share for the quarter. The business had revenue of $11.61 billion during the quarter. Fomento Economico Mexicano had a net margin of 3.40% and a return on equity of 7.33%. Equities research analysts expect that Fomento Economico Mexicano S.A.B. de C.V. will post 5.77 EPS for the current fiscal year.

Fomento Economico Mexicano Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 4th. Shareholders of record on Wednesday, April 22nd were issued a dividend of $0.6658 per share. This represents a $2.66 annualized dividend and a yield of 2.1%. The ex-dividend date of this dividend was Wednesday, April 22nd. Fomento Economico Mexicano’s dividend payout ratio (DPR) is currently 53.47%.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the firm’s stock in a transaction on Wednesday, March 25th. The shares were sold at an average price of $11.07, for a total transaction of $579,138.12. Following the completion of the transaction, the director directly owned 1,233,080 shares of the company’s stock, valued at $13,650,195.60. This trade represents a 4.07% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last ninety days, insiders have sold 261,575 shares of company stock worth $2,795,188. 5.68% of the stock is owned by company insiders.

Fomento Economico Mexicano Company Profile

Fomento Económico Mexicano, SAB. de C.V. (FEMSA) is a Mexican multinational company active primarily in the retail and beverage sectors. Headquartered in Monterrey, Mexico, FEMSA’s operations span convenience store retailing, beverage bottling and distribution, and related logistics and consumer services. The company’s business model combines high-frequency retail outlets with large-scale beverage production and a regional supply chain network.

FEMSA Comercio, the company’s retail arm, operates a large chain of convenience stores under the OXXO brand and has expanded its retail footprint with complementary formats and services.