Leavell Investment Management Inc. boosted its holdings in FedEx Co. (NYSE:FDX) by 1.5% in the 1st quarter, HoldingsChannel.com reports. The firm owned 7,014 shares of the shipping service provider’s stock after acquiring an additional 101 shares during the quarter. Leavell Investment Management Inc.’s holdings in FedEx were worth $1,277,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. HC Financial Advisors Inc. grew its position in FedEx by 5.9% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock valued at $2,007,000 after purchasing an additional 464 shares during the period. Dodge & Cox grew its position in FedEx by 20.0% in the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock valued at $2,983,666,000 after purchasing an additional 2,065,853 shares during the period. Point72 Asset Management L.P. boosted its holdings in FedEx by 365.0% during the 3rd quarter. Point72 Asset Management L.P. now owns 46,500 shares of the shipping service provider’s stock worth $11,197,000 after acquiring an additional 36,500 shares during the last quarter. Thrivent Financial for Lutherans boosted its holdings in FedEx by 2.3% during the 3rd quarter. Thrivent Financial for Lutherans now owns 10,557 shares of the shipping service provider’s stock worth $2,542,000 after acquiring an additional 234 shares during the last quarter. Finally, Brown Brothers Harriman & Co. boosted its holdings in FedEx by 290.2% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 4,351 shares of the shipping service provider’s stock worth $1,048,000 after acquiring an additional 3,236 shares during the last quarter. 71.70% of the stock is owned by institutional investors and hedge funds.
Shares of NYSE:FDX opened at $197.23 on Wednesday. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $51.12 billion, a P/E ratio of 12.88, a P/E/G ratio of 0.99 and a beta of 1.62. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. FedEx’s quarterly revenue was up 2.9% compared to the same quarter last year. During the same period last year, the firm posted $3.72 earnings per share. On average, analysts expect that FedEx Co. will post 15.48 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.32%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s dividend payout ratio (DPR) is currently 16.98%.
A number of research firms have issued reports on FDX. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $174.00 price objective on shares of FedEx in a report on Thursday, March 28th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Barclays cut their price objective on shares of FedEx from $235.00 to $215.00 and set an “overweight” rating on the stock in a report on Wednesday, March 20th. Oppenheimer cut their price objective on shares of FedEx from $288.00 to $234.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. Finally, Daiwa Capital Markets set a $190.00 price objective on shares of FedEx and gave the stock a “buy” rating in a report on Thursday, December 20th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $214.19.
In related news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction dated Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares of the company’s stock, valued at approximately $2,837,032,888.92. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the transaction, the vice president now directly owns 30,185 shares in the company, valued at $5,500,914.40. The disclosure for this sale can be found here. Insiders sold a total of 187,950 shares of company stock worth $35,170,622 over the last three months. 8.50% of the stock is owned by insiders.
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FedEx Company Profile
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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