BlackRock Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.2% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 15,003,466 shares of the shipping service provider’s stock after selling 181,969 shares during the period. BlackRock Inc. owned approximately 0.06% of FedEx worth $3,743,965,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% during the second 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. Cerebellum GP LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $125,000. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% during the second 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. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the third quarter valued at about $132,000. Finally, Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx during the third quarter valued at about $136,000. 75.94% of the stock is owned by institutional investors and hedge funds.
Shares of FedEx Co. (NYSE FDX) opened at $244.19 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57. The firm has a market cap of $65,420.00, a PE ratio of 22.44, a price-to-earnings-growth ratio of 1.42 and a beta of 1.30. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $274.66.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.80 earnings per share. sell-side analysts predict that FedEx Co. will post 13.45 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Monday, April 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.82%. FedEx’s dividend payout ratio is 18.38%.
A number of brokerages have recently commented on FDX. Oppenheimer reaffirmed a “buy” rating and set a $265.00 price objective (up previously from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. BMO Capital Markets reaffirmed a “buy” rating and set a $300.00 price objective on shares of FedEx in a research report on Monday, January 8th. Sanford C. Bernstein set a $212.00 price objective on shares of FedEx and gave the company a “hold” rating in a research report on Wednesday, November 15th. Finally, Bank of America reaffirmed a “buy” rating and set a $315.00 price objective on shares of FedEx in a research report on Friday, January 12th. One research 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’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $272.69.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction dated Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the sale, the chief operating officer now directly owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the sale, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The disclosure for this sale can be found here. Insiders have sold 53,541 shares of company stock worth $13,692,142 over the last ninety days. 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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