Palladium Partners LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 23.9% during the third quarter, according to its most recent filing with the SEC. The institutional investor owned 31,150 shares of the shipping service provider’s stock after purchasing an additional 6,010 shares during the period. Palladium Partners LLC’s holdings in FedEx were worth $7,026,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of FDX. FNY Managed Accounts LLC purchased a new stake in shares of FedEx in the 1st quarter valued at about $100,000. Salem Investment Counselors Inc. raised its holdings in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC raised its holdings in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares in the last quarter. Alexandria Capital LLC raised its holdings in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx in the 3rd quarter valued at about $132,000. 75.74% of the stock is currently owned by institutional investors and hedge funds.
FedEx Co. (NYSE:FDX) traded up $0.99 on Thursday, hitting $236.39. The stock had a trading volume of 1,523,300 shares, compared to its average volume of 1,476,526. The stock has a market cap of $63,121.97, a PE ratio of 19.76, a PEG ratio of 1.48 and a beta of 1.36. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $243.06.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.90 EPS. sell-side analysts predict that FedEx Co. will post 12.47 EPS for the current fiscal year.
The firm also recently announced 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. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date is Friday, December 8th. FedEx’s payout ratio is 18.87%.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,980 shares of FedEx stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value 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 approximately $1,371,344. The disclosure for this sale can be found here. In the last three months, insiders sold 40,094 shares of company stock valued at $9,024,637. Corporate insiders own 8.45% of the company’s stock.
Several research firms have weighed in on FDX. Stifel Nicolaus reaffirmed a “neutral” rating on shares of FedEx in a report on Wednesday, August 16th. Wells Fargo & Company increased their price objective on FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Loop Capital reiterated a “buy” rating and set a $260.00 price objective (up from $250.00) on shares of FedEx in a research report on Wednesday, September 20th. Cowen restated a “buy” rating and set a $240.00 price target on shares of FedEx in a research report on Thursday, August 10th. Finally, UBS lowered FedEx from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $235.00 to $233.00 in a research report on Friday, September 15th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the stock. FedEx presently has an average rating of “Buy” and a consensus price target of $231.81.
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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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