Oppenheimer & Co. Inc. grew its position in shares of FedEx Co. (NYSE:FDX) by 8.5% in the third quarter, according to its most recent filing with the SEC. The fund owned 17,177 shares of the shipping service provider’s stock after acquiring an additional 1,339 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in FedEx were worth $3,875,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Salem Investment Counselors Inc. lifted its position 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 buying an additional 13 shares during the last quarter. Krilogy Financial LLC lifted its position 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 buying an additional 2 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in FedEx in the first quarter worth $100,000. Alexandria Capital LLC lifted its position 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 buying an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new stake in FedEx in the third quarter worth $132,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.
FedEx Co. (NYSE:FDX) opened at $240.73 on Monday. The company has a market capitalization of $64,551.20, a price-to-earnings ratio of 20.21, 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 Co. has a 52 week low of $182.89 and a 52 week high of $243.06.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate 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 for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the prior year, the business posted $2.90 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis. analysts forecast that FedEx Co. will post 12.47 EPS for the current year.
The business 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. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.83%. FedEx’s dividend payout ratio (DPR) is presently 18.87%.
FDX has been the subject of a number of analyst reports. Vetr downgraded FedEx to a “sell” rating and set a $204.84 price target for the company. in a research report on Thursday, August 31st. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. BMO Capital Markets restated a “buy” rating and issued a $245.00 price target on shares of FedEx in a research report on Wednesday, September 6th. Bank of America restated a “buy” rating and issued a $247.00 price target (up from $240.00) on shares of FedEx in a research report on Friday, October 6th. Finally, Citigroup restated a “buy” rating and issued a $235.00 price target on shares of FedEx in a research report on Thursday, September 14th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $231.81.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the firm’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 of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’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 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 worth $9,024,637 in the last quarter. 8.45% of the stock is owned by insiders.
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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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