Smith Moore & CO. decreased its holdings in FedEx Co. (NYSE:FDX) by 16.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,460 shares of the shipping service provider’s stock after selling 296 shares during the quarter. Smith Moore & CO.’s holdings in FedEx were worth $364,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of FDX. Salem Investment Counselors Inc. boosted 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 purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC lifted its position in FedEx by 0.4% during 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 during the period. Cerebellum GP LLC acquired a new stake in FedEx during the 4th quarter worth about $125,000. Financial Engines Advisors L.L.C. acquired a new stake in FedEx during the 3rd quarter worth about $132,000. Finally, Massey Quick Simon & CO. LLC acquired a new stake in FedEx during the 3rd quarter worth about $136,000. 74.01% of the stock is owned by hedge funds and other institutional investors.
FedEx Co. (NYSE:FDX) opened at $240.98 on Wednesday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $274.66. The firm has a market capitalization of $65,415.96, a PE ratio of 22.21, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 analyst estimates of $15.67 billion. During the same quarter in the previous year, the business earned $2.80 EPS. FedEx’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities research analysts expect that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.83%. FedEx’s dividend payout ratio is presently 18.43%.
In related news, Director David P. Steiner sold 3,016 shares of FedEx 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 in the company, valued at approximately $4,267,442. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction dated Thursday, December 21st. The shares were 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 owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,541 shares of company stock valued at $13,692,142. 8.45% of the stock is owned by company insiders.
A number of analysts have commented on FDX shares. Citigroup lifted their price target on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Credit Suisse Group reaffirmed a “positive” rating and set a $283.00 price target (up previously from $278.00) on shares of FedEx in a research report on Wednesday, December 20th. Stephens set a $306.00 price target on FedEx and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Robert W. Baird reaffirmed a “buy” rating and set a $270.00 price target on shares of FedEx in a research report on Monday, February 12th. Finally, Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $272.69.
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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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