Meiji Yasuda Asset Management Co Ltd. grew its holdings in shares of FedEx Co. (NYSE:FDX) by 2.2% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 7,948 shares of the shipping service provider’s stock after buying an additional 172 shares during the period. Meiji Yasuda Asset Management Co Ltd.’s holdings in FedEx were worth $1,442,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors have also made changes to their positions in the company. Berman Capital Advisors LLC purchased a new stake in shares of FedEx during the 4th quarter worth approximately $25,000. Cordasco Financial Network boosted its stake in shares of FedEx by 181.8% during the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after acquiring an additional 100 shares in the last quarter. Covenant Multifamily Offices LLC purchased a new stake in shares of FedEx during the 1st quarter worth approximately $29,000. Evolution Wealth Advisors LLC purchased a new stake in shares of FedEx during the 1st quarter worth approximately $31,000. Finally, Advocacy Wealth Management Services LLC boosted its stake in shares of FedEx by 52.5% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 63 shares in the last quarter. 69.45% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on the company. UBS Group lowered FedEx from a “neutral” rating to a “sell” rating and decreased their price target for the stock from $171.00 to $161.00 in a research note on Friday, April 26th. Credit Suisse Group reissued a “buy” rating and set a $241.00 price target on shares of FedEx in a research note on Monday, April 1st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. KeyCorp reduced their target price on FedEx from $240.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Finally, Barclays reduced their target price on FedEx from $235.00 to $215.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 20th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $203.86.
FDX traded up $1.69 during trading on Wednesday, hitting $161.13. The company’s stock had a trading volume of 775,157 shares, compared to its average volume of 2,037,284. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. The company has a market capitalization of $41.18 billion, a PE ratio of 10.52, a price-to-earnings-growth ratio of 0.76 and a beta of 1.69. FedEx Co. has a twelve month low of $150.68 and a twelve month 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 Thomson Reuters’ consensus estimate of $3.10 by ($0.07). The business had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s revenue was up 2.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.72 earnings per share. As a group, equities research analysts forecast that FedEx Co. will post 15.42 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Monday, June 24th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, June 21st. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.61%. FedEx’s payout ratio is 16.98%.
In other news, Director Susan C. Schwab sold 3,000 shares of the company’s stock in a transaction on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 185,650 shares of company stock valued at $34,751,470. Insiders own 8.50% of the company’s stock.
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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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