DekaBank Deutsche Girozentrale cut its holdings in shares of FedEx Co. (NYSE:FDX) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 40,061 shares of the shipping service provider’s stock after selling 5,010 shares during the period. DekaBank Deutsche Girozentrale’s holdings in FedEx were worth $8,572,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also bought and sold shares of the company. Salem Investment Counselors Inc. grew its stake in FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC grew its stake in FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the period. FNY Managed Accounts LLC purchased a new stake in FedEx in the first quarter worth $100,000. Alexandria Capital LLC grew its stake in FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the period. Finally, Massey Quick Simon & CO. LLC purchased a new stake in FedEx in the third quarter worth $136,000. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Co. (NYSE:FDX) traded up $8.21 during mid-day trading on Tuesday, reaching $239.05. The company’s stock had a trading volume of 3,049,600 shares, compared to its average volume of 1,475,828. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $243.06. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. The company has a market capitalization of $61,899.21, a P/E ratio of 19.38, a price-to-earnings-growth ratio of 1.45 and a beta of 1.36.
FedEx (NYSE:FDX) last posted its 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 net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the prior year, the company posted $2.90 EPS. The firm’s revenue was up 4.1% compared to the same quarter last year. sell-side analysts anticipate that FedEx Co. will post 12.47 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is 18.87%.
A number of equities research analysts have recently commented on FDX shares. Barclays reissued an “overweight” rating and issued a $270.00 target price (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Sanford C. Bernstein set a $212.00 target price on FedEx and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group started coverage on FedEx in a research note on Monday, November 13th. They issued a “buy” rating and a $270.00 target price on the stock. Finally, Oppenheimer reissued a “buy” rating and issued a $236.00 target price on shares of FedEx in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $231.81.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last 90 days, insiders sold 40,094 shares of company stock valued at $9,024,637. Company insiders own 8.45% of the company’s stock.
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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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