Fomento Economico Mexicano S.A.B. de C.V. $FMX Shares Sold by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. cut its holdings in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 6.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 717,562 shares of the company’s stock after selling 47,189 shares during the quarter. Fomento Economico Mexicano makes up approximately 3.6% of Black Creek Investment Management Inc.’s portfolio, making the stock its 12th largest holding. Black Creek Investment Management Inc.’s holdings in Fomento Economico Mexicano were worth $72,524,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Northwestern Mutual Wealth Management Co. grew its position in shares of Fomento Economico Mexicano by 2,006.3% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 337 shares of the company’s stock valued at $35,000 after purchasing an additional 321 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of Fomento Economico Mexicano by 42.5% in the second quarter. Tower Research Capital LLC TRC now owns 439 shares of the company’s stock valued at $45,000 after purchasing an additional 131 shares during the last quarter. Atlas Capital Advisors Inc. acquired a new stake in shares of Fomento Economico Mexicano in the fourth quarter valued at approximately $50,000. Brown Brothers Harriman & Co. grew its position in shares of Fomento Economico Mexicano by 220.8% in the third quarter. Brown Brothers Harriman & Co. now owns 725 shares of the company’s stock valued at $72,000 after purchasing an additional 499 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of Fomento Economico Mexicano by 15.1% in the fourth quarter. UMB Bank n.a. now owns 733 shares of the company’s stock valued at $74,000 after purchasing an additional 96 shares during the last quarter. 61.00% of the stock is currently owned by institutional investors and hedge funds.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $129.48 on Friday. The company has a quick ratio of 0.87, a current ratio of 1.16 and a debt-to-equity ratio of 0.47. The company has a market cap of $44.74 billion, a P/E ratio of 28.97, a P/E/G ratio of 0.75 and a beta of 0.42. Fomento Economico Mexicano S.A.B. de C.V. has a fifty-two week low of $83.08 and a fifty-two week high of $130.55. The firm’s 50 day moving average is $119.34 and its two-hundred day moving average is $110.32.

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

Fomento Economico Mexicano Cuts Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently commented on FMX. UBS Group increased their price target on shares of Fomento Economico Mexicano from $122.00 to $139.00 and gave the company a “buy” rating in a research report on Thursday, May 28th. JPMorgan Chase & Co. raised their target price on shares of Fomento Economico Mexicano from $98.00 to $117.00 and gave the stock a “neutral” rating in a research report on Monday, April 20th. Wall Street Zen lowered shares of Fomento Economico Mexicano from a “strong-buy” rating to a “buy” rating in a research report on Monday, May 11th. Zacks Research upgraded shares of Fomento Economico Mexicano from a “hold” rating to a “strong-buy” rating in a research report on Thursday, April 30th. Finally, Barclays raised their target price on shares of Fomento Economico Mexicano from $118.00 to $125.00 and gave the stock an “equal weight” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $117.17.

Insiders Place Their Bets

In other Fomento Economico Mexicano news, Director Garza Alfonso Garza sold 52,316 shares of the stock in a transaction that occurred 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 transaction, the director 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders have sold a total of 261,575 shares of company stock worth $2,795,188 over the last quarter. Company insiders own 5.68% of the company’s stock.

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.