Exencial Wealth Advisors LLC purchased a new position in shares of FedEx Co. (NYSE:FDX) in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 8,597 shares of the shipping service provider’s stock, valued at approximately $1,939,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its stake in FedEx by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares in the last quarter. BlackRock Inc. raised its position in shares of FedEx by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the period. FMR LLC raised its position in shares of FedEx by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after buying an additional 15,382 shares during the period. Ameriprise Financial Inc. increased its holdings in FedEx by 7.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after purchasing an additional 266,660 shares in the last quarter. Finally, Capital World Investors increased its holdings in FedEx by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after purchasing an additional 501,617 shares in the last quarter. 75.74% of the stock is owned by institutional investors.
FDX has been the subject of several recent analyst reports. Stifel Nicolaus restated a “neutral” rating on shares of FedEx in a research note on Wednesday, August 16th. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Vetr cut FedEx to a “sell” rating and set a $204.84 price target on the stock. in a report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $245.00 price target on shares of FedEx in a report on Wednesday, September 6th. Finally, Cowen reiterated a “buy” rating and set a $240.00 price objective on shares of FedEx in a research note on Tuesday, September 12th. 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 stock. FedEx presently has an average rating of “Buy” and an average price target of $231.81.
FedEx Co. (NYSE:FDX) opened at $240.73 on Friday. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $243.06. The stock has a market cap of $64,167.75, a P/E ratio of 20.09, a PEG ratio of 1.51 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 earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (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 analyst estimates of $15.35 billion. During the same quarter in the previous year, the company posted $2.90 earnings per share. FedEx’s revenue for the quarter was up 4.1% on a year-over-year basis. research analysts anticipate that FedEx Co. will post 12.47 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is presently 18.87%.
In other news, Director Kim Jabal sold 3,980 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the sale, the director now owns 6,080 shares of the company’s stock, valued at $1,371,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were 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 approximately $6,709,780. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock valued at $9,024,637 in 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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