Legal & General Group Plc grew its position in shares of FedEx Co. (NYSE:FDX) by 4.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,273,108 shares of the shipping service provider’s stock after buying an additional 51,082 shares during the quarter. Legal & General Group Plc owned 0.47% of FedEx worth $287,182,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in FDX. FNY Managed Accounts LLC purchased a new position in shares of FedEx in the 1st quarter valued at about $100,000. Salem Investment Counselors Inc. increased its holdings in shares of 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 purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC increased its holdings in shares of 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 purchasing an additional 2 shares in the last quarter. Alexandria Capital LLC increased 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 valued at $117,000 after purchasing an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx in the 3rd quarter valued at about $132,000. Institutional investors own 75.73% of the company’s stock.
FDX has been the subject of a number of research analyst reports. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx in a report on Wednesday, August 16th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Vetr downgraded shares of FedEx to a “sell” rating and set a $204.84 price target for the company. in a report on Thursday, August 31st. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 price target on shares of FedEx in a report on Wednesday, September 6th. Finally, Cowen reiterated a “buy” rating and issued a $240.00 price target on shares of FedEx in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. FedEx has an average rating of “Buy” and an average target price of $233.41.
Shares of FedEx Co. (FDX) opened at $239.50 on Wednesday. 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. The stock has a market cap of $63,982.72, a P/E ratio of 20.03, a P/E/G ratio of 1.50 and a beta of 1.36.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ 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 during the quarter, compared to analyst estimates of $15.35 billion. During the same period in the prior year, the business posted $2.90 earnings per share. FedEx’s revenue was up 4.1% on a year-over-year basis. analysts anticipate that FedEx Co. will post 12.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.84%. FedEx’s dividend payout ratio is presently 18.87%.
In related news, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction that occurred on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock worth $9,024,637 over the last three months. Corporate 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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