Valeo Financial Advisors LLC bought a new stake in FedEx Co. (NYSE:FDX) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 1,161 shares of the shipping service provider’s stock, valued at approximately $262,000.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL raised its position in FedEx by 35.8% during the 1st quarter. Tudor Investment Corp ET AL now owns 8,525 shares of the shipping service provider’s stock valued at $1,664,000 after purchasing an additional 2,247 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. raised its position in shares of FedEx by 14.0% in the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 4,900 shares of the shipping service provider’s stock worth $956,000 after acquiring an additional 600 shares in the last quarter. 10 15 Associates Inc. raised its position in shares of FedEx by 1.8% in the 1st quarter. 10 15 Associates Inc. now owns 14,452 shares of the shipping service provider’s stock worth $2,820,000 after acquiring an additional 260 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of FedEx by 0.7% in the 1st quarter. IHT Wealth Management LLC now owns 2,244 shares of the shipping service provider’s stock worth $440,000 after acquiring an additional 15 shares in the last quarter. Finally, Janus Capital Management LLC raised its position in shares of FedEx by 113.2% in the 1st quarter. Janus Capital Management LLC now owns 130,469 shares of the shipping service provider’s stock worth $25,461,000 after acquiring an additional 69,269 shares in the last quarter. 75.66% of the stock is owned by institutional investors.
In other news, Director David P. Steiner sold 3,016 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. The disclosure for this sale can be found here. Insiders have sold a total of 68,671 shares of company stock worth $17,137,160 over the last three months. Insiders own 8.45% of the company’s stock.
Several research analysts have recently issued reports on FDX shares. Wells Fargo & Co increased their target price on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a research report on Thursday, September 21st. Citigroup increased their target price on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Credit Suisse Group restated a “positive” rating and issued a $283.00 price target (up previously from $278.00) on shares of FedEx in a research note on Wednesday, December 20th. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America restated a “buy” rating and issued a $247.00 price target (up previously from $240.00) on shares of FedEx in a research note on Friday, October 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $269.95.
Shares of FedEx Co. (FDX) traded up $0.66 on Friday, reaching $271.85. The company’s stock had a trading volume of 1,341,600 shares, compared to its average volume of 1,960,000. The stock has a market cap of $72,830.00, a P/E ratio of 24.99, a price-to-earnings-growth ratio of 1.63 and a beta of 1.36. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $271.90.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 EPS. equities analysts expect that FedEx Co. will post 13.05 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.74%. FedEx’s payout ratio is 18.38%.
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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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