Tower Research Capital LLC TRC boosted its position in FedEx Co. (NYSE:FDX) by 1,011.7% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,957 shares of the shipping service provider’s stock after purchasing an additional 2,691 shares during the quarter. Tower Research Capital LLC TRC’s holdings in FedEx were worth $738,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its stake 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 purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC increased its stake 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 valued at $111,000 after acquiring an additional 2 shares during the last quarter. Cerebellum GP LLC acquired a new position in shares of FedEx during the 4th quarter valued at about $125,000. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the 3rd quarter valued at about $132,000. Finally, Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx during the 3rd quarter valued at about $136,000. 74.01% of the stock is owned by hedge funds and other institutional investors.
A number of research firms 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 note on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note 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 note 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 note 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 note on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have assigned a buy rating and one has given a strong buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and an average target price of $272.69.
In other FedEx news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last 90 days, insiders sold 53,541 shares of company stock valued at $13,692,142. 8.45% of the stock is owned by company insiders.
Shares of FedEx Co. (NYSE:FDX) opened at $244.19 on Tuesday. 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 fifty-two week low of $182.89 and a fifty-two week high of $274.66. The stock has a market capitalization of $65,415.96, a PE ratio of 22.51, a PEG ratio of 1.42 and a beta of 1.30.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the previous year, the business earned $2.80 EPS. The company’s revenue for the quarter was up 9.4% on a year-over-year basis. research analysts expect that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.82%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio is presently 18.43%.
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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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