Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) Stock Holdings Trimmed by Black Creek Investment Management Inc.

Black Creek Investment Management Inc. decreased its position in Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,004,674 shares of the company’s stock after selling 8,886 shares during the quarter. Fomento Económico Mexicano makes up 4.1% of Black Creek Investment Management Inc.’s portfolio, making the stock its 10th biggest position. Black Creek Investment Management Inc.’s holdings in Fomento Económico Mexicano were worth $85,890,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FMX. Raymond James Financial Inc. bought a new position in shares of Fomento Económico Mexicano in the 4th quarter worth about $813,000. Invesco Ltd. grew its holdings in Fomento Económico Mexicano by 73.7% in the fourth quarter. Invesco Ltd. now owns 405,757 shares of the company’s stock worth $34,688,000 after purchasing an additional 172,186 shares during the period. Employees Retirement System of Texas increased 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 valued at $41,598,000 after purchasing an additional 15,488 shares in the last quarter. Cerity Partners LLC lifted its holdings in shares of Fomento Económico Mexicano by 15.4% during the fourth quarter. Cerity Partners LLC now owns 10,983 shares of the company’s stock valued at $939,000 after purchasing an additional 1,463 shares during the last quarter. Finally, FMR LLC boosted its position 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 worth $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.

Analyst Ratings Changes

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

Fomento Económico Mexicano Trading Up 1.8 %

Fomento Económico Mexicano stock opened at $98.44 on Friday. Fomento Económico Mexicano, S.A.B. de C.V. has a one year low of $81.08 and a one year high of $125.27. The business’s fifty day moving average is $94.63 and its 200 day moving average is $92.04. The stock has a market capitalization of $35.22 billion, a PE ratio of 25.24, a price-to-earnings-growth ratio of 5.26 and a beta of 0.68. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.62 and a quick ratio of 1.32.

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

About Fomento Económico Mexicano

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.