Catawba Capital Management VA lessened its stake in FedEx Co. (NYSE:FDX) by 2.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 28,505 shares of the shipping service provider’s stock after selling 708 shares during the quarter. FedEx accounts for approximately 1.6% of Catawba Capital Management VA’s holdings, making the stock its 14th biggest position. Catawba Capital Management VA’s holdings in FedEx were worth $7,113,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently bought and sold shares of FDX. Beach Investment Management LLC. purchased a new position in shares of FedEx in the 2nd quarter worth about $11,976,000. Corundum Group Inc. purchased a new position in shares of FedEx in the 2nd quarter worth about $218,000. Summit Financial Strategies Inc. purchased a new position in shares of FedEx in the 2nd quarter worth about $247,000. Trent Capital Management Inc. NC purchased a new position in shares of FedEx in the 2nd quarter worth about $5,556,000. Finally, Wetherby Asset Management Inc. raised its position in shares of FedEx by 0.8% in the 2nd quarter. Wetherby Asset Management Inc. now owns 4,694 shares of the shipping service provider’s stock worth $1,020,000 after purchasing an additional 37 shares during the last quarter. 75.69% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on FDX shares. Loop Capital lifted their price target on FedEx to $318.00 in a research report on Thursday, January 4th. Oppenheimer reissued a “buy” rating and issued a $236.00 target price on shares of FedEx in a research report on Friday, October 20th. Bank of America reissued a “buy” rating and issued a $247.00 target price (up previously from $240.00) on shares of FedEx in a research report on Friday, October 6th. Goldman Sachs Group assumed coverage on FedEx in a research report on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Citigroup boosted their target price on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has given a strong buy rating to the stock. FedEx currently has an average rating of “Buy” and an average price target of $270.49.
FedEx Co. (NYSE:FDX) traded up $0.69 during trading on Friday, hitting $272.18. The company’s stock had a trading volume of 1,903,000 shares, compared to its average volume of 1,938,983. The company has a market cap of $73,490.00, a P/E ratio of 25.02, a P/E/G ratio of 1.62 and a beta of 1.36. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $274.66. 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 (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the previous year, the company posted $2.80 EPS. equities research analysts forecast that FedEx Co. will post 13.13 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.73%. FedEx’s dividend payout ratio is currently 18.38%.
In related news, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the transaction, the director now directly owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 68,671 shares of company stock valued at $17,137,160. Corporate insiders own 8.45% of the company’s stock.
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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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