APG Asset Management N.V. raised its position in shares of FedEx Co. (NYSE:FDX) by 3.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 373,081 shares of the shipping service provider’s stock after acquiring an additional 10,800 shares during the period. APG Asset Management N.V. owned approximately 0.14% of FedEx worth $84,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors and hedge funds have also recently modified their holdings of the company. FNY Managed Accounts LLC bought a new position in FedEx in the 1st quarter valued at $100,000. Salem Investment Counselors Inc. grew its position in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the last quarter. Cribstone Capital Management LLC grew its position 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 during the last quarter. Krilogy Financial LLC grew its position 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 during the last quarter. Finally, Alexandria Capital LLC lifted its holdings in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the period. 75.74% of the stock is currently owned by institutional investors and hedge funds.
In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the firm’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 sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is currently owned by company insiders.
FDX has been the subject of several research reports. Wells Fargo & Company upped their target price 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 from $242.00) on shares of FedEx in a research note on Friday, September 15th. Bank of America restated a “buy” rating and set a $247.00 price objective (up from $240.00) on shares of FedEx in a research note on Friday, October 6th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Finally, Oppenheimer restated a “buy” rating and set a $229.00 price objective on shares of FedEx in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $231.81.
FedEx Co. (NYSE:FDX) traded down $3.65 during midday trading on Tuesday, hitting $235.40. The stock had a trading volume of 1,591,913 shares, compared to its average volume of 1,476,323. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $243.06. The stock has a market capitalization of $61,899.21, a P/E ratio of 19.38, a PEG ratio of 1.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The business’s quarterly revenue was up 4.1% compared to the same quarter last year. research analysts forecast that FedEx Co. will post 12.47 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. FedEx’s payout ratio is 18.87%.
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FedEx Company Profile
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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