People s United Financial Inc. trimmed its holdings in FedEx Co. (NYSE:FDX) by 5.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,980 shares of the shipping service provider’s stock after selling 615 shares during the period. People s United Financial Inc.’s holdings in FedEx were worth $2,404,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. InterOcean Capital LLC lifted its holdings in FedEx by 56.6% during the 3rd quarter. InterOcean Capital LLC now owns 47,121 shares of the shipping service provider’s stock worth $11,346,000 after purchasing an additional 17,030 shares during the last quarter. Marathon Trading Investment Management LLC acquired a new position in FedEx in the 3rd quarter valued at $280,000. Pettyjohn Wood & White Inc. raised its holdings in FedEx by 5.9% in the 3rd quarter. Pettyjohn Wood & White Inc. now owns 19,575 shares of the shipping service provider’s stock valued at $4,713,000 after acquiring an additional 1,090 shares in the last quarter. Karp Capital Management Corp raised its holdings in FedEx by 9.2% in the 3rd quarter. Karp Capital Management Corp now owns 10,972 shares of the shipping service provider’s stock valued at $2,642,000 after acquiring an additional 921 shares in the last quarter. Finally, Redmond Asset Management LLC raised its holdings in FedEx by 3.8% in the 3rd quarter. Redmond Asset Management LLC now owns 12,060 shares of the shipping service provider’s stock valued at $2,904,000 after acquiring an additional 442 shares in the last quarter. 72.11% of the stock is owned by institutional investors.
Several equities analysts have recently issued reports on the company. Berenberg Bank assumed coverage on FedEx in a research note on Friday, September 21st. They issued a “buy” rating and a $300.00 price target on the stock. Robert W. Baird lifted their price target on FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Morgan Stanley reiterated a “hold” rating and issued a $242.00 price target (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research note on Monday. Finally, Wolfe Research set a $275.00 price target on FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company. FedEx has a consensus rating of “Buy” and an average target price of $285.85.
In other FedEx news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the transaction, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan Patricia Griffith bought 1,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The shares were bought at an average cost of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Insiders own 8.45% of the company’s stock.
Shares of FDX stock opened at $215.06 on Friday. The firm has a market cap of $56.79 billion, a P/E ratio of 14.05, a PEG ratio of 0.97 and a beta of 1.35. FedEx Co. has a twelve month low of $207.90 and a twelve month high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company’s revenue was up 11.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.65 EPS. Equities research analysts expect that FedEx Co. will post 17.36 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, December 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.21%. FedEx’s dividend payout ratio is currently 16.98%.
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FedEx Company Profile
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.
See Also: Systematic Risk and Investors
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