Cetera Advisor Networks LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 8.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,168 shares of the shipping service provider’s stock after buying an additional 391 shares during the period. Cetera Advisor Networks LLC’s holdings in FedEx were worth $1,284,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Salem Investment Counselors Inc. lifted its holdings in FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the last quarter. Krilogy Financial LLC lifted its holdings in FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares during the last quarter. Cerebellum GP LLC purchased a new stake in FedEx during the 4th quarter worth about $125,000. Financial Engines Advisors L.L.C. purchased a new stake in FedEx during the 3rd quarter worth about $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new stake in FedEx during the 3rd quarter worth about $136,000. 74.01% of the stock is owned by institutional investors.
FedEx Co. (NYSE FDX) opened at $252.22 on Friday. The stock has a market capitalization of $65,748.14, a PE ratio of 23.25, a P/E/G ratio of 1.43 and a beta of 1.30. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $274.66. The company has a debt-to-equity ratio of 0.89, a current ratio of 1.57 and a quick ratio of 1.50.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ 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 firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the previous year, the firm posted $2.80 EPS. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. equities analysts expect that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s payout ratio is 18.43%.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the business’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 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director David P. Steiner sold 3,016 shares of the business’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 transaction, the director now owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. Insiders have sold a total of 53,541 shares of company stock worth $13,692,142 in the last quarter. 8.45% of the stock is currently owned by insiders.
A number of brokerages have issued reports on FDX. Zacks Investment Research raised FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 price target for the company in a report on Thursday, January 18th. Bank of America reaffirmed a “buy” rating and set a $315.00 price target on shares of FedEx in a report on Friday, January 12th. BMO Capital Markets reissued a “buy” rating and issued a $300.00 target price on shares of FedEx in a report on Monday, January 8th. Robert W. Baird reissued a “buy” rating and issued a $280.00 target price on shares of FedEx in a report on Tuesday, January 9th. Finally, UBS Group raised FedEx from a “neutral” rating to a “buy” rating and boosted their target price for the company from $264.00 to $302.00 in a report on Friday, January 5th. One analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the company. FedEx currently has an average rating of “Buy” and a consensus price target of $275.04.
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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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