Vestmark Advisory Solutions Inc. bought a new stake in FedEx Co. (NYSE:FDX) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,110 shares of the shipping service provider’s stock, valued at approximately $1,834,000.
A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Oregon Public Employees Retirement Fund lifted its stake in FedEx by 15,104.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock valued at $87,000 after acquiring an additional 13,970,642 shares during the last quarter. Norges Bank acquired a new stake in FedEx in the fourth quarter valued at approximately $303,958,000. Artisan Partners Limited Partnership raised its position in shares of FedEx by 40.7% in the first quarter. Artisan Partners Limited Partnership now owns 2,740,543 shares of the shipping service provider’s stock valued at $497,162,000 after purchasing an additional 792,575 shares during the period. LSV Asset Management raised its position in shares of FedEx by 39.7% in the first quarter. LSV Asset Management now owns 1,986,887 shares of the shipping service provider’s stock valued at $360,441,000 after purchasing an additional 564,452 shares during the period. Finally, Lakewood Capital Management LP raised its position in shares of FedEx by 102.8% in the fourth quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock valued at $152,166,000 after purchasing an additional 478,000 shares during the period. Hedge funds and other institutional investors own 69.45% of the company’s stock.
A number of equities analysts have recently commented on the stock. Daiwa Capital Markets lowered shares of FedEx from an “outperform” rating to a “neutral” rating and dropped their price target for the company from $187.00 to $179.00 in a research report on Thursday, March 21st. They noted that the move was a valuation call. Morgan Stanley set a $148.00 target price on shares of FedEx and gave the stock a “hold” rating in a research report on Friday, May 17th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 target price on shares of FedEx in a research report on Thursday, May 30th. ValuEngine lowered shares of FedEx from a “sell” rating to a “strong sell” rating in a research report on Monday, June 3rd. Finally, KeyCorp dropped their target price on shares of FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $202.43.
Shares of NYSE:FDX traded down $1.12 on Friday, hitting $164.55. The stock had a trading volume of 1,590,227 shares, compared to its average volume of 2,055,837. FedEx Co. has a twelve month low of $150.68 and a twelve month high of $264.99. 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 $42.88 billion, a PE ratio of 10.75, a P/E/G ratio of 0.79 and a beta of 1.69.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the prior year, the firm posted $3.72 EPS. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. On average, analysts forecast that FedEx Co. will post 15.42 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, July 8th. Stockholders of record on Monday, June 24th will be paid a $0.65 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.60 annualized dividend and a dividend yield of 1.58%. FedEx’s dividend payout ratio is presently 16.98%.
In related news, Director Susan C. Schwab sold 3,000 shares of the company’s stock in a transaction dated Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total transaction of $525,330.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the transaction, the executive vice president now owns 200,320 shares in the company, valued at approximately $34,715,456. The disclosure for this sale can be found here. Insiders sold a total of 185,650 shares of company stock worth $34,751,470 in the last 90 days. 8.50% of the stock is owned by corporate insiders.
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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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