Putnam FL Investment Management Co. purchased a new stake in FedEx Co. (NYSE:FDX) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 7,388 shares of the shipping service provider’s stock, valued at approximately $1,667,000.
A number of other institutional investors and hedge funds have also modified their holdings of the business. Krilogy Financial LLC increased its holdings in shares of FedEx by 0.4% during the second 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. Park National Corp OH grew its holdings in FedEx by 0.9% during the second quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after buying an additional 10 shares in the last quarter. Alexandria Capital LLC grew its holdings in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares in the last quarter. Salem Investment Counselors Inc. grew its holdings in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in FedEx by 0.7% during the first quarter. IHT Wealth Management LLC now owns 2,244 shares of the shipping service provider’s stock worth $440,000 after buying an additional 15 shares in the last quarter. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently issued reports on the company. Cowen reiterated an “outperform” rating and set a $240.00 price target on shares of FedEx in a report on Friday, October 13th. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx in a report on Wednesday, August 16th. Citigroup reiterated a “buy” rating and set a $235.00 price target on shares of FedEx in a report on Thursday, September 14th. Bank of America reiterated a “buy” rating and set a $240.00 price target on shares of FedEx in a report on Wednesday, September 20th. Finally, Vetr downgraded FedEx to a “sell” rating and set a $204.84 price target for the company. in a report on Thursday, August 31st. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $231.81.
Shares of FedEx Co. (NYSE FDX) traded up $0.99 during midday trading 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. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $243.06. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. 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.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the prior year, the company earned $2.90 EPS. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. research analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. FedEx’s dividend payout ratio is presently 18.87%.
In other news, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction 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 transaction, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 in the last ninety days. Insiders own 8.45% of the company’s stock.
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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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