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

Black Creek Investment Management Inc. decreased its position in Fomento Economico Mexicano S.A.B. de C.V. (NYSE:FMX) by 4.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 764,751 shares of the company’s stock after selling 38,430 shares during the period. Fomento Economico Mexicano accounts for about 3.6% of Black Creek Investment Management Inc.’s investment portfolio, making the stock its 13th biggest position. Black Creek Investment Management Inc. owned approximately 0.21% of Fomento Economico Mexicano worth $75,427,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Citigroup Inc. lifted its holdings in shares of Fomento Economico Mexicano by 309.6% in the 2nd quarter. Citigroup Inc. now owns 1,714,895 shares of the company’s stock worth $176,600,000 after buying an additional 1,296,194 shares during the period. AQR Capital Management LLC increased its stake in shares of Fomento Economico Mexicano by 11,692.3% during the second quarter. AQR Capital Management LLC now owns 716,029 shares of the company’s stock valued at $73,171,000 after buying an additional 709,957 shares during the period. Victory Capital Management Inc. raised its holdings in shares of Fomento Economico Mexicano by 12,960.1% in the third quarter. Victory Capital Management Inc. now owns 599,982 shares of the company’s stock valued at $59,176,000 after acquiring an additional 595,388 shares in the last quarter. Altrinsic Global Advisors LLC lifted its stake in Fomento Economico Mexicano by 52.4% in the second quarter. Altrinsic Global Advisors LLC now owns 944,824 shares of the company’s stock worth $97,298,000 after acquiring an additional 324,781 shares during the period. Finally, ANTIPODES PARTNERS Ltd grew its holdings in Fomento Economico Mexicano by 24.1% during the 3rd quarter. ANTIPODES PARTNERS Ltd now owns 1,144,880 shares of the company’s stock worth $112,928,000 after acquiring an additional 222,064 shares in the last quarter. 61.00% of the stock is currently owned by hedge funds and other institutional investors.

Fomento Economico Mexicano Stock Performance

NYSE:FMX opened at $109.50 on Wednesday. Fomento Economico Mexicano S.A.B. de C.V. has a 52 week low of $83.08 and a 52 week high of $116.09. The firm has a 50 day moving average of $106.92 and a 200 day moving average of $98.87. The company has a debt-to-equity ratio of 0.39, a current ratio of 1.35 and a quick ratio of 1.02.

Fomento Economico Mexicano (NYSE:FMX) last released its quarterly earnings results on Wednesday, February 25th. The company reported $0.92 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.50 by ($0.58). Fomento Economico Mexicano had a return on equity of 6.11% and a net margin of 2.29%.The firm had revenue of $12.21 billion during the quarter, compared to analysts’ expectations of $11.98 billion. As a group, research analysts predict that Fomento Economico Mexicano S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Economico Mexicano Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 26th. Shareholders of record on Friday, January 16th were paid a $2.0531 dividend. This represents a $8.21 dividend on an annualized basis and a yield of 7.5%. This is a boost from Fomento Economico Mexicano’s previous quarterly dividend of $2.00. The ex-dividend date was Friday, January 16th. Fomento Economico Mexicano’s dividend payout ratio (DPR) is 80.00%.

Wall Street Analyst Weigh In

Several research firms have recently commented on FMX. The Goldman Sachs Group boosted their price target on shares of Fomento Economico Mexicano from $113.00 to $128.00 and gave the company a “buy” rating in a report on Wednesday, February 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Fomento Economico Mexicano in a research note on Thursday, January 22nd. Finally, Barclays upped their target price on Fomento Economico Mexicano from $116.00 to $118.00 and gave the stock an “equal weight” rating in a report on Tuesday. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $108.83.

Fomento Economico Mexicano 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.