Iberiabank Corp lowered its position in FedEx Co. (NYSE:FDX) by 52.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,253 shares of the shipping service provider’s stock after selling 2,534 shares during the period. Iberiabank Corp’s holdings in FedEx were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also recently made changes to their positions in the company. Vigilant Capital Management LLC acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $114,000. Lenox Wealth Advisors LLC acquired a new stake in shares of FedEx during the 3rd quarter valued at approximately $120,000. Fortis Advisors LLC lifted its position in shares of FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares during the period. Qube Research & Technologies Ltd acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $129,000. Finally, IMA Wealth Inc. acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 72.77% of the company’s stock.
FDX has been the subject of a number of research reports. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reissued a “buy” rating and set a $305.00 price objective on shares of FedEx in a research note on Tuesday, September 18th. Loop Capital raised their price objective on shares of FedEx to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Finally, UBS Group cut shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research note on Monday, July 16th. Three analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $285.27.
FDX stock opened at $221.00 on Friday. The company has a market capitalization of $63.45 billion, a price-to-earnings ratio of 14.44, a PEG ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.32 and a quick ratio of 1.26. FedEx Co. has a one year low of $214.17 and a one year high of $274.66.
FedEx (NYSE:FDX) last released its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The firm had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. As a group, sell-side analysts expect that FedEx Co. will post 17.36 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were paid a $0.65 dividend. The ex-dividend date was Friday, September 7th. This represents a $2.60 annualized dividend and a yield of 1.18%. FedEx’s payout ratio is currently 16.98%.
In other FedEx news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by insiders.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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