Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX) is Black Creek Investment Management Inc.'s 10th Largest Position

Black Creek Investment Management Inc. trimmed its holdings in shares of Fomento Económico Mexicano, S.A.B. de C.V. (NYSE:FMX - Free Report) by 0.9% in the fourth quarter, according to the company in its most recent filing 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 period. Fomento Económico Mexicano comprises 4.1% of Black Creek Investment Management Inc.'s investment portfolio, 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 SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC boosted its position in shares of Fomento Económico Mexicano by 540.3% during 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. First Eagle Investment Management LLC grew its position in Fomento Económico Mexicano by 20.5% during the fourth quarter. First Eagle Investment Management LLC now owns 12,655,733 shares of the company's stock worth $1,081,939,000 after buying an additional 2,150,913 shares during the period. Schroder Investment Management Group increased its holdings in Fomento Económico Mexicano by 20.4% in the fourth quarter. Schroder Investment Management Group now owns 4,228,299 shares of the company's stock valued at $360,716,000 after buying an additional 717,666 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Fomento Económico Mexicano by 77.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 728,253 shares of the company's stock valued at $62,258,000 after acquiring an additional 317,887 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Fomento Económico Mexicano by 6.8% during the 4th quarter. JPMorgan Chase & Co. now owns 3,238,177 shares of the company's stock worth $276,832,000 after acquiring an additional 205,981 shares in the last quarter. 61.00% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on FMX shares. UBS Group raised their price objective on Fomento Económico Mexicano from $94.00 to $107.00 and gave the company a "neutral" rating in a research note on Friday, March 14th. Barclays lifted their price target on 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. Itau BBA Securities raised shares of Fomento Económico Mexicano from a "market perform" rating to an "outperform" rating in a research note on Monday, April 7th. Finally, The Goldman Sachs Group cut their target price on shares of Fomento Económico Mexicano from $109.00 to $97.80 and set a "buy" rating for the company in a research report on Tuesday, January 28th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, Fomento Económico Mexicano presently has an average rating of "Moderate Buy" and an average target price of $103.95.

Fomento Económico Mexicano Price Performance

Shares of NYSE:FMX traded up $2.04 on Friday, hitting $105.83. The company had a trading volume of 370,257 shares, compared to its average volume of 638,392. The company has a market cap of $37.87 billion, a PE ratio of 27.14, a PEG ratio of 5.26 and a beta of 0.68. The business has a 50 day moving average of $95.86 and a 200 day moving average of $92.18. Fomento Económico Mexicano, S.A.B. de C.V. has a 52-week low of $81.08 and a 52-week high of $123.09. The company has a current ratio of 1.62, a quick ratio of 1.32 and a debt-to-equity ratio of 0.37.

Fomento Económico Mexicano (NYSE:FMX - Get Free Report) last released its quarterly earnings results on Thursday, February 27th. The company reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.51 by ($1.05). The firm had revenue of $9.99 billion for the quarter, compared to analyst estimates of $201.67 billion. Fomento Económico Mexicano had a return on equity of 8.37% and a net margin of 3.22%. As a group, equities analysts anticipate that Fomento Económico Mexicano, S.A.B. de C.V. will post 5.32 earnings per share for the current fiscal year.

Fomento Económico Mexicano Increases Dividend

The company also recently announced a dividend, which will be paid on Monday, May 5th. Shareholders of record on Friday, April 25th will be paid a $1.628 dividend. This is a boost from Fomento Económico Mexicano's previous dividend of $0.92. This represents a yield of 1.57%. The ex-dividend date is Thursday, April 24th. Fomento Económico Mexicano's payout ratio is presently 11.03%.

Fomento Económico Mexicano 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.