Exxonmobil Investment Management Inc. TX trimmed its holdings in FedEx Co. (NYSE:FDX) by 13.0% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 39,226 shares of the shipping service provider’s stock after selling 5,843 shares during the period. Exxonmobil Investment Management Inc. TX’s holdings in FedEx were worth $9,788,000 at the end of the most recent quarter.
A number of other institutional investors have also modified their holdings of the stock. Vanguard Group Inc. grew its position in FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares during the period. FMR LLC grew its position in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after acquiring an additional 15,382 shares during the period. Ameriprise Financial Inc. grew its position in FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after acquiring an additional 266,660 shares during the period. Capital World Investors grew its position in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after acquiring an additional 501,617 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock worth $814,875,000 after acquiring an additional 116,500 shares during the period. Institutional investors own 75.87% of the company’s stock.
In other FedEx news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the sale, the chief operating officer now owns 48,562 shares in the company, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,541 shares of company stock worth $13,692,142. Insiders own 8.45% of the company’s stock.
Shares of FedEx Co. (NYSE:FDX) traded up $1.02 during midday trading on Wednesday, hitting $262.48. The stock had a trading volume of 1,760,000 shares, compared to its average volume of 1,860,000. The firm has a market capitalization of $70,320.00, a PE ratio of 24.13, a P/E/G ratio of 1.58 and a beta of 1.36. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. FedEx Co. has a twelve month low of $182.89 and a twelve month high of $274.66.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. The business had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the firm earned $2.80 earnings per share. sell-side analysts expect that FedEx Co. will post 13.28 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.76%. The ex-dividend date was Friday, December 8th. FedEx’s payout ratio is currently 18.38%.
FDX has been the subject of several analyst reports. Loop Capital increased their price objective on FedEx to $318.00 in a research report on Thursday, January 4th. Oppenheimer restated a “buy” rating and set a $236.00 price target on shares of FedEx in a research report on Friday, October 20th. Goldman Sachs Group initiated coverage on FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. Citigroup raised their price target on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Finally, Bank of America restated a “buy” rating and set a $247.00 price target (up from $240.00) on shares of FedEx in a research report on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have issued a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $270.49.
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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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