Verition Fund Management LLC purchased a new stake in FedEx Co. (NYSE:FDX) in the 2nd quarter, according to its most recent filing with the SEC. The fund purchased 1,804 shares of the shipping service provider’s stock, valued at approximately $253,000.
A number of other institutional investors and hedge funds have also modified their holdings of FDX. Tower Research Capital LLC TRC acquired a new stake in shares of FedEx during the 1st quarter worth $49,000. Legacy Advisors LLC acquired a new stake in shares of FedEx during the 2nd quarter worth $221,000. Quadrant Private Wealth Management LLC increased its holdings in shares of FedEx by 14.5% during the 1st quarter. Quadrant Private Wealth Management LLC now owns 2,739 shares of the shipping service provider’s stock worth $332,000 after buying an additional 347 shares during the last quarter. Tudor Investment Corp Et Al acquired a new stake in shares of FedEx during the 1st quarter worth $619,000. Finally, Courier Capital LLC increased its holdings in shares of FedEx by 5.6% during the 2nd quarter. Courier Capital LLC now owns 3,746 shares of the shipping service provider’s stock worth $582,000 after buying an additional 200 shares during the last quarter. Institutional investors own 71.65% of the company’s stock.
FDX has been the subject of several recent research reports. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating and set a $242.00 price target for the company. in a report on Thursday, September 3rd. Argus raised shares of FedEx from a “hold” rating to a “buy” rating and set a $185.00 price objective for the company in a research report on Monday, July 6th. Robert W. Baird upped their price objective on shares of FedEx from $140.00 to $162.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wells Fargo & Company upped their price objective on shares of FedEx from $179.00 to $221.00 and gave the company an “overweight” rating in a research report on Friday, August 14th. Finally, Citigroup upped their price objective on shares of FedEx from $235.00 to $260.00 and gave the company a “buy” rating in a research report on Thursday, September 10th. One research analyst has rated the stock with a sell rating, eleven have given a hold rating and nineteen have assigned a buy rating to the company’s stock. FedEx presently has an average rating of “Buy” and an average target price of $202.58.
In related news, EVP Robert B. Carter sold 21,480 shares of FedEx stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $157.53, for a total value of $3,383,744.40. Following the transaction, the executive vice president now owns 74,366 shares in the company, valued at approximately $11,714,875.98. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Brie Carere sold 1,307 shares of FedEx stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $202.60, for a total transaction of $264,798.20. Following the completion of the transaction, the executive vice president now owns 11,481 shares in the company, valued at approximately $2,326,050.60. The disclosure for this sale can be found here. Insiders have sold a total of 44,058 shares of company stock worth $7,149,678 in the last 90 days. 8.49% of the stock is owned by insiders.
Shares of NYSE:FDX opened at $236.67 on Wednesday. The firm has a fifty day moving average of $204.74 and a two-hundred day moving average of $148.86. The firm has a market capitalization of $62.01 billion, a P/E ratio of 48.40, a price-to-earnings-growth ratio of 1.84 and a beta of 1.48. FedEx Co. has a 12-month low of $88.69 and a 12-month high of $241.00. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.20.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.69 by $2.18. The company had revenue of $19.32 billion during the quarter, compared to analyst estimates of $17.56 billion. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The company’s revenue for the quarter was up 13.3% on a year-over-year basis. During the same quarter last year, the business posted $3.05 EPS. Equities research analysts expect that FedEx Co. will post 10.52 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend is Thursday, September 3rd. FedEx’s dividend payout ratio (DPR) is currently 27.37%.
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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