Sand Hill Global Advisors LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 1,200 shares of the shipping service provider’s stock, valued at approximately $261,000.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. FNY Managed Accounts LLC purchased a new position in FedEx during the 1st quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. lifted its stake in shares of FedEx by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after purchasing an additional 300 shares during the last quarter. Cribstone Capital Management LLC lifted its stake in shares of FedEx by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares during the last quarter. Alexandria Capital LLC lifted its stake in shares of FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Hefty Wealth Partners lifted its stake in shares of FedEx by 26.0% during the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after acquiring an additional 130 shares during the last quarter. Institutional investors and hedge funds own 76.04% of the company’s stock.
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Shares of FedEx Co. (NYSE FDX) traded up 0.17% on Friday, reaching $229.42. The company had a trading volume of 73,828 shares. FedEx Co. has a 1-year low of $170.16 and a 1-year high of $229.97. The firm has a 50-day moving average price of $220.04 and a 200 day moving average price of $207.81. The firm has a market capitalization of $61.52 billion, a price-to-earnings ratio of 21.63 and a beta of 1.31.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx had a return on equity of 14.63% and a net margin of 3.90%. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the company posted $2.90 earnings per share. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post $12.46 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.87%. FedEx’s dividend payout ratio (DPR) is 18.87%.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares in the company, valued at approximately $8,395,219.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold a total of 38,322 shares of company stock worth $8,586,522 in the last quarter. 8.45% of the stock is currently owned by company insiders.
FDX has been the subject of a number of research analyst reports. Sanford C. Bernstein reissued a “market perform” rating and set a $220.00 price target on shares of FedEx in a research note on Monday, July 3rd. Loop Capital reaffirmed a “buy” rating and set a $234.00 target price on shares of FedEx in a research report on Tuesday, July 4th. Cowen and Company reaffirmed a “buy” rating and set a $240.00 target price on shares of FedEx in a research report on Tuesday, July 11th. Vetr raised FedEx from a “sell” rating to a “hold” rating and set a $206.26 target price for the company in a research report on Tuesday, July 18th. Finally, BidaskClub lowered FedEx from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. FedEx presently has a consensus rating of “Buy” and an average price target of $228.56.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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