Pacer Advisors Inc. boosted its holdings in shares of FedEx Co. (NYSE:FDX - Free Report) by 52.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,838 shares of the shipping service provider's stock after purchasing an additional 8,905 shares during the period. Pacer Advisors Inc.'s holdings in FedEx were worth $7,269,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. International Assets Investment Management LLC boosted its holdings in FedEx by 473.8% during the third quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider's stock worth $2,147,540,000 after buying an additional 647,926 shares during the last quarter. Franklin Resources Inc. boosted its stake 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 acquiring an additional 314,380 shares during the last quarter. KBC Group NV lifted its position in shares of FedEx by 197.4% in the fourth quarter. KBC Group NV now owns 341,390 shares of the shipping service provider's stock worth $96,043,000 after purchasing an additional 226,608 shares in the last quarter. World Investment Advisors LLC grew its position in FedEx by 2,163.7% in the third quarter. World Investment Advisors LLC now owns 192,441 shares of the shipping service provider's stock valued at $52,667,000 after purchasing an additional 183,940 shares in the last quarter. Finally, Empirical Asset Management LLC acquired a new position in shares of FedEx during the 4th quarter worth about $49,445,000. Institutional investors and hedge funds own 84.47% of the company's stock.
Insiders Place Their Bets
In related news, Director Susan C. Schwab sold 3,980 shares of the firm's stock in a transaction on Tuesday, January 14th. The stock was sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the sale, the director now owns 8,904 shares of the company's stock, valued at $2,461,510.80. This trade represents a 30.89 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Richard W. Smith sold 2,576 shares of the business's stock in a transaction that occurred on Tuesday, January 7th. The stock was sold at an average price of $276.93, for a total transaction of $713,371.68. Following the sale, the chief executive officer now directly owns 111,886 shares in the company, valued at $30,984,589.98. The trade was a 2.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 8.87% of the company's stock.
Wall Street Analyst Weigh In
Several research analysts have weighed in on FDX shares. Sanford C. Bernstein lowered FedEx from an "outperform" rating to a "market perform" rating and lowered their price target for the stock from $337.00 to $316.00 in a research report on Tuesday, December 3rd. TD Cowen raised their target price on shares of FedEx from $328.00 to $337.00 and gave the company a "buy" rating in a research note on Friday, December 20th. Citigroup boosted their price target on FedEx from $301.00 to $331.00 and gave the stock a "buy" rating in a research report on Tuesday, November 12th. Stephens cut their price objective on FedEx from $350.00 to $345.00 and set an "overweight" rating for the company in a research report on Friday, December 20th. Finally, Raymond James increased their price target on FedEx from $305.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, December 20th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $325.43.
Read Our Latest Stock Report on FDX
FedEx Price Performance
Shares of NYSE:FDX traded down $5.67 during trading on Thursday, reaching $269.39. 2,744,560 shares of the company traded hands, compared to its average volume of 1,568,033. The company has a quick ratio of 1.19, a current ratio of 1.23 and a debt-to-equity ratio of 0.73. FedEx Co. has a 52 week low of $234.45 and a 52 week high of $313.84. The firm has a market capitalization of $64.88 billion, a PE ratio of 17.17, a PEG ratio of 1.12 and a beta of 1.20. The company's 50 day moving average is $280.84 and its two-hundred day moving average is $282.81.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Thursday, December 19th. The shipping service provider reported $4.05 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.88 by $0.17. The firm had revenue of $22 billion for the quarter, compared to the consensus estimate of $22.14 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. The business's revenue for the quarter was down .7% on a year-over-year basis. During the same period in the prior year, the company posted $3.99 earnings per share. As a group, sell-side analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were given a dividend of $1.38 per share. The ex-dividend date was Monday, December 9th. This represents a $5.52 annualized dividend and a yield of 2.05%. FedEx's dividend payout ratio is currently 35.18%.
About FedEx
(
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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