Farmers & Merchants Investments Inc. lessened its position in FedEx Co. (NYSE:FDX) by 9.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 19,532 shares of the shipping service provider’s stock after selling 1,968 shares during the quarter. Farmers & Merchants Investments Inc.’s holdings in FedEx were worth $4,406,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently bought and sold shares of FDX. Krilogy Financial LLC raised its holdings in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares in the last quarter. Cribstone Capital Management LLC raised its holdings in 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 acquiring an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America raised its holdings in FedEx by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after acquiring an additional 9 shares in the last quarter. Park National Corp OH raised its holdings in FedEx by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock valued at $256,000 after acquiring an additional 10 shares in the last quarter. Finally, Alexandria Capital LLC raised its holdings in FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares in the last quarter. Hedge funds and other institutional investors own 75.74% of the company’s stock.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the 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 directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by corporate insiders.
FDX has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Credit Suisse Group restated an “outperform” rating and set a $233.00 price objective (down previously from $242.00) on shares of FedEx in a research report on Friday, September 15th. Bank of America restated a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx in a research report on Friday, October 6th. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. Finally, Oppenheimer restated a “buy” rating and set a $229.00 price objective on shares of FedEx in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $231.81.
Shares of FedEx Co. (NYSE:FDX) traded up $8.21 during trading on Monday, hitting $239.05. The stock had a trading volume of 3,049,217 shares, compared to its average volume of 1,475,827. The stock has a market capitalization of $64,100.00, a P/E ratio of 19.38, a PEG ratio of 1.45 and a beta of 1.36. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $243.06. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 earnings per share. equities analysts expect that FedEx Co. will post 12.47 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is presently 18.83%.
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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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