Atalanta Sosnoff Capital LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 2.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 199,646 shares of the shipping service provider’s stock after selling 4,772 shares during the period. FedEx makes up about 1.6% of Atalanta Sosnoff Capital LLC’s holdings, making the stock its 26th biggest holding. Atalanta Sosnoff Capital LLC owned 0.07% of FedEx worth $49,819,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in FDX. Krilogy Financial LLC boosted its position in 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 buying an additional 2 shares during the last quarter. Salem Investment Counselors Inc. boosted its position in 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 buying an additional 13 shares during the last quarter. RNC Capital Management LLC boosted its position in FedEx by 0.8% in the 2nd quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after buying an additional 15 shares during the last quarter. High Falls Advisors Inc boosted its position in FedEx by 2.1% in the 2nd quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after buying an additional 23 shares during the last quarter. Finally, David R. Rahn & Associates Inc. boosted its position in FedEx by 0.5% in the 2nd quarter. David R. Rahn & Associates Inc. now owns 6,590 shares of the shipping service provider’s stock valued at $1,432,000 after buying an additional 30 shares during the last quarter. 75.87% of the stock is owned by hedge funds and other institutional investors.
FDX has been the topic of several research analyst reports. Stephens set a $306.00 price target on shares of FedEx and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Goldman Sachs Group initiated coverage on shares of FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. JPMorgan Chase & Co. increased their price target on shares of FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Citigroup reiterated a “buy” rating and set a $280.00 price objective on shares of FedEx in a research note on Wednesday, December 20th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $278.00 price objective (up previously from $233.00) on shares of FedEx in a research note on Thursday, December 14th. One 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 company. FedEx presently has a consensus rating of “Buy” and an average price target of $270.49.
Shares of FedEx Co. (NYSE FDX) opened at $262.48 on Thursday. 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. The firm has a market cap of $70,042.41, a P/E ratio of 21.27, a P/E/G ratio of 1.54 and a beta of 1.36.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS 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 analyst estimates of $15.67 billion. During the same quarter last year, the business posted $2.80 EPS. The company’s revenue was up 9.4% on a year-over-year basis. equities research analysts predict that FedEx Co. will post 13.34 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.76%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio is 18.43%.
In other FedEx news, Director David P. Steiner sold 3,016 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the transaction, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders sold a total of 53,541 shares of company stock valued at $13,692,142 in the last ninety days. Company 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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