Seminole Management Co. Inc. grew its stake in shares of FedEx Co. (NYSE:FDX) by 36.7% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 16,400 shares of the shipping service provider’s stock after purchasing an additional 4,400 shares during the period. FedEx comprises approximately 0.8% of Seminole Management Co. Inc.’s portfolio, making the stock its 17th biggest position. Seminole Management Co. Inc.’s holdings in FedEx were worth $3,700,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently modified their holdings of the company. Salem Investment Counselors Inc. grew its holdings in shares of FedEx by 2.8% in the second 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 in the last quarter. Krilogy Financial LLC grew its holdings in shares of FedEx by 0.4% in the second 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. FNY Managed Accounts LLC bought a new position in shares of FedEx in the first quarter valued at approximately $100,000. Alexandria Capital LLC grew its holdings in shares of FedEx by 2.5% in the second 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. Finally, Hefty Wealth Partners grew its holdings in shares of FedEx by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares in the last quarter. 75.74% of the stock is owned by hedge funds and other institutional investors.
FedEx Co. (FDX) opened at $239.05 on Tuesday. The company has a market capitalization of $61,899.21, a price-to-earnings ratio of 19.38, a P/E/G ratio of 1.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $243.06.
FedEx (NYSE:FDX) last released its earnings results 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). The firm 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company earned $2.90 EPS. equities analysts forecast that FedEx Co. will post 12.47 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid 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 dividend yield of 0.84%. FedEx’s dividend payout ratio (DPR) is currently 18.87%.
Several equities analysts recently commented on FDX shares. Vetr downgraded FedEx to a “sell” rating and set a $204.84 price objective on the stock. in a research note on Thursday, August 31st. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research note on Wednesday, September 6th. Bank of America reiterated a “buy” rating and issued a $247.00 price objective (up previously from $240.00) on shares of FedEx in a research note on Friday, October 6th. Finally, Credit Suisse Group restated an “outperform” rating and set a $233.00 target price (down previously from $242.00) on shares of FedEx in a research report on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $231.81.
In related news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly 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 Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 over the last ninety days. 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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