IHT Wealth Management LLC grew its position in FedEx Co. (NYSE:FDX) by 33.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,177 shares of the shipping service provider’s stock after purchasing an additional 545 shares during the period. IHT Wealth Management LLC’s holdings in FedEx were worth $317,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. CX Institutional bought a new position in shares of FedEx in the third quarter valued at approximately $29,000. Accurate Investment Solutions Inc. lifted its holdings in FedEx by 125.0% during the third quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 125 shares during the period. Venturi Wealth Management LLC bought a new stake in FedEx during the third quarter worth $33,000. Nelson Roberts Investment Advisors LLC purchased a new position in FedEx in the second quarter worth $34,000. Finally, First PREMIER Bank bought a new position in FedEx in the 3rd quarter valued at $36,000. Institutional investors own 70.64% of the company’s stock.
In related news, Director R Brad Martin bought 1,000 shares of the business’s stock in a transaction on Friday, September 27th. The stock was acquired at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the purchase, the director now directly owns 49,046 shares in the company, valued at $7,111,670. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Edwardson bought 5,000 shares of FedEx stock in a transaction on Thursday, October 31st. The shares were bought at an average cost of $151.75 per share, with a total value of $758,750.00. Following the acquisition, the director now directly owns 62,966 shares in the company, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is owned by company insiders.
Several equities research analysts have recently issued reports on the company. Standpoint Research raised FedEx from a “hold” rating to a “buy” rating in a research report on Thursday, September 19th. Raymond James cut their price target on shares of FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Credit Suisse Group reduced their price target on shares of FedEx from $175.00 to $168.00 and set an “outperform” rating for the company in a research report on Wednesday, September 18th. Stifel Nicolaus downgraded shares of FedEx from a “buy” rating to a “hold” rating and decreased their price objective for the stock from $185.00 to $171.00 in a report on Wednesday, September 18th. Finally, DZ Bank reaffirmed a “sell” rating on shares of FedEx in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $170.40.
Shares of FDX stock opened at $158.03 on Tuesday. The stock has a market capitalization of $41.76 billion, a P/E ratio of 10.18, a PEG ratio of 1.10 and a beta of 1.71. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The firm’s 50 day moving average is $156.85 and its 200 day moving average is $159.19. FedEx Co. has a 12 month low of $137.78 and a 12 month high of $234.49.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the prior year, the firm posted $3.46 earnings per share. The firm’s quarterly revenue was up .0% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 12.11 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 9th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date of this dividend is Friday, December 6th. FedEx’s payout ratio is currently 16.75%.
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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