Raymond James Financial Services Advisors Inc. lifted its stake in shares of FedEx Co. (NYSE:FDX) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 74,983 shares of the shipping service provider’s stock after purchasing an additional 5,906 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in FedEx were worth $18,711,000 as of its most recent SEC filing.
Several other large investors also recently added to or reduced their stakes in FDX. Beach Investment Management LLC. bought a new stake in shares of FedEx during the 2nd quarter valued at $11,976,000. Stephens Inc. AR raised its stake in shares of FedEx by 3.4% during the 2nd quarter. Stephens Inc. AR now owns 22,924 shares of the shipping service provider’s stock valued at $4,982,000 after purchasing an additional 747 shares during the period. Raymond James Trust N.A. raised its stake in shares of FedEx by 1.0% during the 2nd quarter. Raymond James Trust N.A. now owns 7,102 shares of the shipping service provider’s stock valued at $1,544,000 after purchasing an additional 67 shares during the period. South State Corp raised its stake in shares of FedEx by 11.4% during the 2nd quarter. South State Corp now owns 1,317 shares of the shipping service provider’s stock valued at $286,000 after purchasing an additional 135 shares during the period. Finally, Peregrine Asset Advisers Inc. bought a new stake in shares of FedEx during the 2nd quarter valued at $8,821,000. Institutional investors own 75.94% of the company’s stock.
A number of analysts recently issued reports on the company. Robert W. Baird reiterated a “buy” rating and set a $270.00 price objective on shares of FedEx in a research note on Monday, February 12th. Zacks Investment Research upgraded FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price objective on the stock in a research note on Thursday, January 18th. Bank of America restated a “buy” rating and issued a $315.00 target price on shares of FedEx in a research note on Friday, January 12th. BMO Capital Markets restated a “buy” rating and issued a $300.00 target price on shares of FedEx in a research note on Monday, January 8th. Finally, UBS Group upgraded FedEx from a “neutral” rating to a “buy” rating and upped their target price for the stock from $264.00 to $302.00 in a research note on Friday, January 5th. One analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $272.69.
In other news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction dated 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 approximately $46,892,778.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock valued at $13,692,142 over the last quarter. Company insiders own 8.45% of the company’s stock.
FedEx Co. (NYSE:FDX) opened at $244.19 on Friday. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $274.66. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $65,416.06, a PE ratio of 19.87, a PEG ratio of 1.42 and a beta of 1.30.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The firm had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same period in the prior year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. research analysts anticipate that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, April 2nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.82%. FedEx’s payout ratio is currently 18.43%.
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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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