MetLife Investment Advisors LLC acquired a new stake in FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 76,330 shares of the shipping service provider’s stock, valued at approximately $19,047,000.
Other hedge funds and other institutional investors have also modified their holdings of the company. Cerebellum GP LLC acquired a new stake in shares of FedEx during the 4th quarter worth about $125,000. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of FedEx during the 4th quarter worth about $144,000. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the 3rd quarter worth about $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx during the 3rd quarter worth about $136,000. Finally, Carroll Financial Associates Inc. boosted its stake in shares of FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after purchasing an additional 240 shares during the last quarter. 74.58% of the stock is currently owned by hedge funds and other institutional investors.
FedEx stock opened at $252.10 on Monday. FedEx Co. has a 1-year low of $182.89 and a 1-year 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. The company has a market cap of $67,516.21, a P/E ratio of 23.23, a P/E/G ratio of 1.47 and a beta of 1.32.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate 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 for the quarter, compared to analyst estimates of $15.67 billion. During the same quarter last year, the firm posted $2.80 earnings per share. FedEx’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities analysts expect that FedEx Co. will post 13.49 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be given a $0.50 dividend. 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 dividend payout ratio (DPR) is 18.43%.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction that occurred on Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the completion of the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 transaction of $802,406.80. Following the completion of the sale, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 in the last ninety days. 8.45% of the stock is owned by corporate insiders.
Several research firms have issued reports on FDX. JPMorgan Chase & Co. set a $315.00 price target on shares of FedEx and gave the stock a “buy” rating in a research note on Monday. Robert W. Baird raised their price target on shares of FedEx from $270.00 to $280.00 and gave the stock an “outperform” rating in a research note on Thursday. Citigroup raised their price target on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday, December 12th. Stifel Nicolaus raised their price target on shares of FedEx from $221.00 to $272.00 and gave the stock a “hold” rating in a research note on Wednesday, December 20th. Finally, Barclays reiterated an “overweight” rating and set a $270.00 price objective (up from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-three have assigned a buy rating to the company. FedEx presently has a consensus rating of “Buy” and a consensus target price of $278.08.
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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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