Westwood Holdings Group Inc. cut its stake in shares of FedEx (NYSE:FDX) by 1.5% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 383,201 shares of the shipping service provider’s stock after selling 5,679 shares during the period. Westwood Holdings Group Inc. owned about 0.14% of FedEx worth $95,625,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FDX. Ameriprise Financial Inc. raised its position in shares of FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after buying an additional 266,660 shares during the last quarter. Jennison Associates LLC raised its position in shares of FedEx by 47.4% in the fourth quarter. Jennison Associates LLC now owns 3,687,689 shares of the shipping service provider’s stock valued at $920,226,000 after buying an additional 1,185,447 shares during the last quarter. Canada Pension Plan Investment Board raised its position in shares of FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock valued at $814,875,000 after buying an additional 116,500 shares during the last quarter. TIAA CREF Investment Management LLC raised its position in shares of FedEx by 5.6% in the fourth quarter. TIAA CREF Investment Management LLC now owns 2,395,924 shares of the shipping service provider’s stock valued at $597,879,000 after buying an additional 126,993 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of FedEx by 3.2% in the fourth quarter. Geode Capital Management LLC now owns 2,392,806 shares of the shipping service provider’s stock valued at $595,716,000 after buying an additional 73,830 shares during the last quarter. Institutional investors own 74.68% of the company’s stock.
FDX stock traded down $6.78 during mid-day trading on Friday, hitting $234.29. 1,447,010 shares of the company were exchanged, compared to its average volume of 2,130,503. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.43 and a quick ratio of 1.37. The firm has a market cap of $64,580.14, a PE ratio of 19.05, a price-to-earnings-growth ratio of 1.25 and a beta of 1.38. 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 for the quarter, topping the Thomson Reuters’ consensus estimate of $3.11 by $0.61. The company had revenue of $16.53 billion during the quarter, compared to analyst estimates of $16.17 billion. FedEx had a net margin of 6.99% and a return on equity of 21.65%. FedEx’s revenue was up 10.2% compared to the same quarter last year. During the same quarter last year, the firm posted $2.35 earnings per share. sell-side analysts anticipate that FedEx will post 15.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 2nd. Shareholders of record on Monday, March 12th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.85%. The ex-dividend date was Friday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 16.26%.
FDX has been the subject of a number of recent research reports. Credit Suisse Group reduced their target price on shares of FedEx from $314.00 to $306.00 and set an “outperform” rating for the company in a research report on Wednesday, March 21st. Zacks Investment Research cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Thursday, January 4th. UBS upgraded shares of FedEx from a “neutral” rating to a “buy” rating and increased their target price for the company from $264.00 to $302.00 in a research report on Friday, January 5th. Sanford C. Bernstein set a $236.00 target price on shares of FedEx and gave the company a “hold” rating in a research report on Wednesday, December 20th. Finally, Loop Capital increased their target price on shares of FedEx to $318.00 in a research report on Thursday, January 4th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have issued a buy rating to the company. FedEx has a consensus rating of “Buy” and an average target price of $281.51.
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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.
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