Asset Advisors Investment Management LLC trimmed its position in FedEx Co. (NYSE:FDX) by 31.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,585 shares of the shipping service provider’s stock after selling 9,525 shares during the period. Asset Advisors Investment Management LLC’s holdings in FedEx were worth $3,734,000 at the end of the most recent quarter.
Several other institutional investors have also recently modified their holdings of the company. Pratt Collard Advisory Partners LLC lifted its holdings in shares of FedEx by 2.3% in the first quarter. Pratt Collard Advisory Partners LLC now owns 5,103 shares of the shipping service provider’s stock valued at $926,000 after purchasing an additional 115 shares in the last quarter. Autus Asset Management LLC bought a new stake in shares of FedEx in the first quarter valued at about $3,952,000. Flagship Harbor Advisors LLC lifted its holdings in shares of FedEx by 11.5% in the first quarter. Flagship Harbor Advisors LLC now owns 3,301 shares of the shipping service provider’s stock valued at $598,000 after purchasing an additional 341 shares in the last quarter. Hodges Capital Management Inc. lifted its holdings in shares of FedEx by 32.1% in the first quarter. Hodges Capital Management Inc. now owns 19,166 shares of the shipping service provider’s stock valued at $3,477,000 after purchasing an additional 4,652 shares in the last quarter. Finally, TIAA FSB bought a new stake in shares of FedEx in the first quarter valued at about $9,339,000. Institutional investors own 71.70% of the company’s stock.
FDX opened at $197.23 on Wednesday. FedEx Co. has a 52-week low of $150.94 and a 52-week high of $266.67. The stock has a market cap of $51.21 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.00 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. FedEx’s quarterly revenue was up 2.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.72 EPS. Equities research analysts predict that FedEx Co. will post 15.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 annualized dividend and a yield of 1.32%. FedEx’s dividend payout ratio is 16.98%.
A number of brokerages have recently commented on FDX. Berenberg Bank restated a “buy” rating and issued a $245.00 price target on shares of FedEx in a report on Monday, January 7th. Cowen reiterated an “outperform” rating and set a $237.00 target price (down previously from $242.00) on shares of FedEx in a report on Thursday, March 14th. Wells Fargo & Co dropped their target price on FedEx from $285.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Zacks Investment Research reiterated a “strong sell” rating on shares of FedEx in a report on Monday, December 31st. Finally, Credit Suisse Group dropped their target price on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $214.19.
In other FedEx news, VP John L. Merino sold 2,300 shares of the company’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the sale, the vice president now owns 30,185 shares in the company, valued at $5,500,914.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. Insiders sold 187,950 shares of company stock worth $35,170,622 in the last 90 days. Corporate insiders own 8.50% of the company’s stock.
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FedEx Company Profile
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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