DNB Asset Management AS grew its holdings in FedEx Co. (NYSE:FDX) by 3.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 32,910 shares of the shipping service provider’s stock after purchasing an additional 1,000 shares during the quarter. DNB Asset Management AS’s holdings in FedEx were worth $7,924,000 at the end of the most recent quarter.
Other hedge funds have also added to or reduced their stakes in the company. Manning & Napier Group LLC boosted its position in FedEx by 0.7% during the third quarter. Manning & Napier Group LLC now owns 517,144 shares of the shipping service provider’s stock worth $124,522,000 after acquiring an additional 3,575 shares during the last quarter. Factory Mutual Insurance Co. raised its stake in FedEx by 2.8% during the third quarter. Factory Mutual Insurance Co. now owns 327,600 shares of the shipping service provider’s stock worth $78,883,000 after purchasing an additional 9,000 shares during the period. Smith Shellnut Wilson LLC ADV purchased a new position in FedEx during the third quarter worth approximately $1,124,000. United Capital Management of KS Inc. purchased a new position in FedEx during the third quarter worth approximately $217,000. Finally, State of Alaska Department of Revenue raised its stake in FedEx by 0.6% during the third quarter. State of Alaska Department of Revenue now owns 42,827 shares of the shipping service provider’s stock worth $10,311,000 after purchasing an additional 242 shares during the period. Institutional investors and hedge funds own 72.77% of the company’s stock.
In other news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 8.50% of the company’s stock.
Shares of FDX stock opened at $221.00 on Friday. FedEx Co. has a 52 week low of $214.17 and a 52 week high of $274.66. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79. The firm has a market capitalization of $63.45 billion, a PE ratio of 14.44, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44.
FedEx (NYSE:FDX) last issued its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Zacks’ consensus estimate of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.88 billion. During the same period in the prior year, the business posted $2.65 EPS. The business’s revenue was up 11.5% on a year-over-year basis. On average, equities analysts expect that FedEx Co. will post 17.36 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, September 7th. FedEx’s dividend payout ratio is presently 16.98%.
FDX has been the topic of a number of recent analyst reports. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Credit Suisse Group set a $307.00 price target on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $305.00 price target on shares of FedEx in a research note on Tuesday, September 18th. Loop Capital increased their price target on shares of FedEx to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Finally, UBS Group downgraded shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target on the stock. in a research note on Monday, July 16th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $285.27.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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