Founders Capital Management LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 33.9% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 59,617 shares of the shipping service provider’s stock after buying an additional 15,104 shares during the period. FedEx makes up about 4.0% of Founders Capital Management LLC’s portfolio, making the stock its 10th biggest holding. Founders Capital Management LLC’s holdings in FedEx were worth $10,815,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the stock. HC Financial Advisors Inc. lifted its stake in shares of FedEx by 5.9% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock valued at $2,007,000 after purchasing an additional 464 shares during the last quarter. Dodge & Cox lifted its stake in shares of FedEx by 20.0% in the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after purchasing an additional 2,065,853 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in shares of FedEx by 365.0% in the 3rd quarter. Point72 Asset Management L.P. now owns 46,500 shares of the shipping service provider’s stock valued at $11,197,000 after purchasing an additional 36,500 shares during the last quarter. Thrivent Financial for Lutherans lifted its stake in shares of FedEx by 2.3% in the 3rd quarter. Thrivent Financial for Lutherans now owns 10,557 shares of the shipping service provider’s stock valued at $2,542,000 after purchasing an additional 234 shares during the last quarter. Finally, Brown Brothers Harriman & Co. lifted its stake in shares of FedEx by 290.2% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,351 shares of the shipping service provider’s stock valued at $1,048,000 after purchasing an additional 3,236 shares during the last quarter. 71.70% of the stock is owned by institutional investors.
FDX has been the subject of several analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $256.00 price objective on shares of FedEx in a research note on Tuesday, December 18th. Berenberg Bank reaffirmed a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research note on Monday, January 7th. Robert W. Baird lowered their price objective on FedEx from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Finally, UBS Group lowered their price objective on FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday, January 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $214.19.
In other FedEx news, Director Susan C. Schwab sold 3,000 shares of the firm’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the transaction, the executive vice president now owns 200,320 shares in the company, valued at $34,715,456. The disclosure for this sale can be found here. Insiders have sold a total of 187,950 shares of company stock valued at $35,170,622 over the last three months. 8.50% of the stock is owned by corporate insiders.
Shares of FDX stock 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 company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. The company has a market cap of $51.12 billion, a P/E ratio of 12.88, a price-to-earnings-growth ratio of 0.99 and a beta of 1.62.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the prior year, the business posted $3.72 earnings per share. FedEx’s revenue was up 2.9% on a year-over-year basis. Research analysts expect that FedEx Co. will post 15.48 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio is currently 16.98%.
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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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