Summit Securities Group LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,200 shares of the shipping service provider's stock, valued at approximately $338,000.
A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. increased its holdings in FedEx by 0.3% during the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after acquiring an additional 56,236 shares during the period. Geode Capital Management LLC grew its position in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider's stock worth $1,281,335,000 after buying an additional 67,502 shares in the last quarter. Franklin Resources Inc. increased its stake in FedEx by 8.6% in 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. Norges Bank bought a new stake in shares of FedEx during the 4th quarter valued at about $807,352,000. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of FedEx by 0.7% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider's stock worth $465,031,000 after purchasing an additional 11,100 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.
Insider Activity at FedEx
In other news, COO John Alan Smith sold 6,155 shares of the business's stock in a transaction on Thursday, March 27th. The stock was 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 owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John W. Dietrich acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, January 7th. The shares were acquired at an average cost of $273.98 per share, for a total transaction of $273,980.00. Following the completion of the transaction, the executive vice president now directly owns 9,067 shares of the company's stock, valued at $2,484,176.66. The trade was a 12.40 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders sold 12,711 shares of company stock valued at $3,312,693 over the last 90 days. Corporate insiders own 8.87% of the company's stock.
FedEx Stock Up 1.4 %
NYSE:FDX traded up $3.47 during mid-day trading on Wednesday, hitting $245.45. 982,996 shares of the company's stock were exchanged, compared to its average volume of 1,851,488. The business has a fifty day moving average price of $255.30 and a 200 day moving average price of $270.28. FedEx Co. has a one year low of $217.22 and a one year high of $313.84. The company has a market cap of $58.81 billion, a PE ratio of 15.64, a P/E/G ratio of 1.11 and a beta of 1.23. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.23 and a quick ratio of 1.19.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The company had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a net margin of 4.45% and a return on equity of 15.59%. FedEx's revenue was up 1.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.86 earnings per share. Equities analysts predict that FedEx Co. will post 19.14 EPS for the current year.
FedEx Announces Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date was Monday, March 10th. FedEx's payout ratio is 34.63%.
Analyst Ratings Changes
A number of equities analysts have commented on the stock. Bank of America cut their price target on shares of FedEx from $295.00 to $272.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Raymond James reduced their target price on FedEx from $320.00 to $290.00 and set an "outperform" rating on the stock in a research note on Friday, March 21st. TD Cowen dropped their price target on FedEx from $337.00 to $310.00 and set a "buy" rating for the company in a research note on Friday, March 21st. Deutsche Bank Aktiengesellschaft started coverage on FedEx in a research report on Friday, March 7th. They set a "buy" rating and a $337.00 price objective on the stock. Finally, Oppenheimer reiterated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $302.71.
View Our Latest Stock Analysis on FedEx
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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