Madison Investment Holdings Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 55.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 75,766 shares of the shipping service provider’s stock after selling 92,570 shares during the period. Madison Investment Holdings Inc.’s holdings in FedEx were worth $17,091,000 at the end of the most recent quarter.
A number of other large investors also recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new position in shares of FedEx in the 1st quarter worth about $100,000. Salem Investment Counselors Inc. raised its position 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 worth $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC raised its position 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 worth $111,000 after acquiring an additional 2 shares in the last quarter. Alexandria Capital LLC raised its position 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 worth $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new position in shares of FedEx in the 3rd quarter worth about $132,000. 75.66% of the stock is owned by institutional investors and hedge funds.
A number of analysts recently commented on FDX shares. Zacks Investment Research lowered FedEx from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. Bank of America reiterated a “buy” rating and set a $247.00 price target (up previously from $240.00) on shares of FedEx in a research note on Friday, October 6th. Sanford C. Bernstein set a $236.00 price target on FedEx and gave the company a “hold” rating in a research note on Wednesday, December 20th. Loop Capital lifted their price target on FedEx to $318.00 in a research note on Thursday, January 4th. Finally, UBS Group upgraded FedEx from a “neutral” rating to a “buy” rating and lifted their price target for the company from $264.00 to $302.00 in a research note on Friday, January 5th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $269.95.
In other news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director David P. Steiner sold 3,016 shares of the company’s 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 completion of the transaction, the director now directly owns 16,040 shares in the company, valued at approximately $4,267,442. 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 in the last three months. Insiders own 8.45% of the company’s stock.
Shares of FedEx Co. (FDX) opened at $271.85 on Friday. The company has a quick ratio of 1.50, a current ratio of 1.57 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. The company has a market cap of $72,830.00, a P/E ratio of 24.99, a P/E/G ratio of 1.63 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. analysts expect that FedEx Co. will post 13.05 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. FedEx’s payout ratio is 18.38%.
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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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