Greenhaven Associates Inc. lowered its position in shares of FedEx Co. (NYSE:FDX) by 1.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 2,981,611 shares of the shipping service provider’s stock after selling 34,077 shares during the quarter. FedEx comprises about 10.1% of Greenhaven Associates Inc.’s portfolio, making the stock its 4th largest position. Greenhaven Associates Inc. owned about 1.11% of FedEx worth $672,592,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Vanguard Group Inc. grew its position in shares of FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after purchasing an additional 492,840 shares in the last quarter. BlackRock Inc. lifted its holdings in FedEx by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after acquiring an additional 14,086,601 shares during the last quarter. FMR LLC lifted its holdings in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after acquiring an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in FedEx by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock valued at $795,260,000 after acquiring an additional 13,383 shares during the last quarter. Finally, Capital World Investors lifted its holdings in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after acquiring an additional 501,617 shares during the last quarter. 75.74% of the stock is owned by institutional investors.
A number of research analysts recently commented on FDX shares. Vetr cut FedEx to a “sell” rating and set a $204.84 price objective on the stock. in a report on Thursday, August 31st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. BMO Capital Markets reaffirmed a “buy” rating and set a $245.00 price objective on shares of FedEx in a research report on Wednesday, September 6th. Bank of America reaffirmed a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx in a research report on Friday, October 6th. Finally, Credit Suisse Group reissued an “outperform” rating and issued a $233.00 target price (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $231.81.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares in the company, valued at approximately $6,709,780. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock valued at $9,024,637 in the last three months. Insiders own 8.45% of the company’s stock.
Shares of FedEx Co. (NYSE:FDX) traded up $2.91 on Thursday, hitting $239.30. 1,232,244 shares of the company’s stock were exchanged, compared to its average volume of 1,475,491. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. The firm has a market cap of $64,150.00, a price-to-earnings ratio of 19.76, a PEG ratio of 1.48 and a beta of 1.36. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $243.06.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same quarter in the previous year, the firm posted $2.90 EPS. The business’s revenue was up 4.1% compared to the same quarter last year. equities research analysts anticipate that FedEx Co. will post 12.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. FedEx’s dividend payout ratio is currently 18.83%.
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FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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