Oppenheimer Asset Management Inc. raised its holdings in FedEx Co. (NYSE:FDX) by 9.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 44,321 shares of the shipping service provider’s stock after purchasing an additional 3,660 shares during the quarter. Oppenheimer Asset Management Inc.’s holdings in FedEx were worth $9,998,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in shares of FedEx during the 1st quarter worth approximately $100,000. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares during the last quarter. Alexandria Capital LLC raised its position in shares of FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the 3rd quarter worth approximately $132,000. 75.66% of the stock is currently owned by institutional investors.
Several research analysts recently issued reports on FDX shares. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. Bank of America reiterated a “buy” rating and issued a $247.00 price target (up from $240.00) on shares of FedEx in a report on Friday, October 6th. Sanford C. Bernstein set a $236.00 price target on FedEx and gave the company a “hold” rating in a report on Wednesday, December 20th. Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 price target (down from $242.00) on shares of FedEx in a report on Friday, September 15th. Finally, Citigroup reiterated a “buy” rating and issued a $235.00 price target on shares of FedEx in a report on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have assigned a buy rating to the stock. FedEx has a consensus rating of “Buy” and an average target price of $269.04.
Shares of FedEx Co. (NYSE:FDX) opened at $271.19 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $271.39. The firm has a market cap of $72,650.00, a price-to-earnings ratio of 24.93, a P/E/G ratio of 1.60 and a beta of 1.36.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same period in the prior year, the company earned $2.80 EPS. The firm’s revenue was up 9.4% on a year-over-year basis. analysts anticipate that FedEx Co. will post 13.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. FedEx’s payout ratio is currently 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,671 shares of company stock valued at $17,137,160. 8.45% of the stock is currently owned by corporate insiders.
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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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