NEOS Investment Management LLC raised its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 28.5% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 11,183 shares of the shipping service provider's stock after acquiring an additional 2,483 shares during the quarter. NEOS Investment Management LLC's holdings in FedEx were worth $3,146,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in FedEx by 0.3% in the fourth quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock valued at $5,682,727,000 after buying an additional 56,236 shares during the last quarter. Geode Capital Management LLC raised its position in FedEx by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider's stock valued at $1,281,335,000 after purchasing an additional 67,502 shares during the last quarter. Franklin Resources Inc. grew its position in FedEx by 8.6% during the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider's stock worth $1,042,050,000 after purchasing an additional 314,380 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its holdings in shares of FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider's stock valued at $465,031,000 after buying an additional 11,100 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of FedEx by 3.4% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,500,736 shares of the shipping service provider's stock worth $422,202,000 after buying an additional 49,160 shares during the period. Hedge funds and other institutional investors own 84.47% of the company's stock.
Insiders Place Their Bets
In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the completion of the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Richard W. Smith sold 2,576 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now owns 111,886 shares in the company, valued at $30,984,589.98. This represents a 2.25 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,711 shares of company stock worth $3,312,693. 8.87% of the stock is owned by insiders.
FedEx Stock Performance
Shares of FDX traded up $2.29 during mid-day trading on Wednesday, reaching $244.27. 248,722 shares of the company's stock traded hands, compared to its average volume of 1,734,368. FedEx Co. has a 12 month low of $217.22 and a 12 month high of $313.84. The stock has a market capitalization of $58.53 billion, a P/E ratio of 15.57, a price-to-earnings-growth ratio of 1.11 and a beta of 1.23. The business's 50-day moving average price is $255.30 and its 200-day moving average price is $270.28. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue for the quarter was up 1.9% on a year-over-year basis. During the same period last year, the business posted $3.86 earnings per share. Equities analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Monday, March 10th were given a $1.38 dividend. This represents a $5.52 annualized dividend and a yield of 2.26%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is presently 34.63%.
Wall Street Analysts Forecast Growth
FDX has been the topic of several recent research reports. Stifel Nicolaus dropped their price target on FedEx from $364.00 to $354.00 and set a "buy" rating on the stock in a research report on Friday, March 21st. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and cut their price target for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Barclays lowered their price objective on shares of FedEx from $365.00 to $350.00 and set an "overweight" rating on the stock in a research report on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a research note on Thursday, March 20th. Finally, BNP Paribas upgraded shares of FedEx from a "strong sell" rating to a "strong-buy" rating in a research note on Thursday, January 16th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $302.71.
View Our Latest Stock Analysis on FDX
FedEx Company Profile
(
Free Report)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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