Biltmore Family Office LLC bought a new stake in shares of FedEx (NYSE:FDX) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,127 shares of the shipping service provider’s stock, valued at approximately $282,000.
A number of other hedge funds have also added to or reduced their stakes in FDX. Cerebellum GP LLC bought a new stake in FedEx during the fourth quarter valued at $125,000. Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the third quarter valued at $132,000. Massey Quick Simon & CO. LLC acquired a new position in shares of FedEx during the third quarter valued at $136,000. Carroll Financial Associates Inc. boosted its holdings in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock valued at $140,000 after acquiring an additional 240 shares during the period. Finally, Pinnacle Wealth Planning Services Inc. acquired a new position in shares of FedEx during the fourth quarter valued at $144,000. Hedge funds and other institutional investors own 74.68% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Credit Suisse Group reduced their price target on shares of FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a report on Wednesday, March 21st. Oppenheimer reissued a “buy” rating and set a $265.00 price target (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reissued a “buy” rating and set a $300.00 price target on shares of FedEx in a report on Monday, January 8th. Finally, Bank of America reiterated a “buy” rating and issued a $315.00 target price on shares of FedEx in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and twenty-two have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $281.51.
FedEx stock traded down $6.78 during trading hours on Friday, reaching $234.29. 1,445,894 shares of the company were exchanged, compared to its average volume of 2,130,503. The stock has a market capitalization of $64,580.14, a P/E ratio of 19.05, a PEG ratio of 1.25 and a beta of 1.38. The company has a quick ratio of 1.37, a current ratio of 1.43 and a debt-to-equity ratio of 0.85. FedEx has a 12 month low of $182.89 and a 12 month high of $274.66.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. The firm had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The company’s revenue was up 10.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.35 earnings per share. sell-side analysts anticipate that FedEx will post 15.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 12th were given a dividend of $0.50 per share. The ex-dividend date was Friday, March 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.85%. FedEx’s payout ratio is currently 16.26%.
COPYRIGHT VIOLATION NOTICE: This piece of content was published by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are reading this piece of content on another site, it was illegally copied and republished in violation of U.S. & international copyright and trademark laws. The legal version of this piece of content can be accessed at https://www.dispatchtribunal.com/2018/04/07/biltmore-family-office-llc-takes-position-in-fedex-co-fdx.html.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.