Holderness Investments Co. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 1.2% during the first quarter, HoldingsChannel reports. The institutional investor owned 7,177 shares of the shipping service provider’s stock after selling 84 shares during the quarter. Holderness Investments Co.’s holdings in FedEx were worth $1,302,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of FDX. Berman Capital Advisors LLC bought a new stake in FedEx during the fourth quarter worth $25,000. Cordasco Financial Network lifted its stake in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after purchasing an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC bought a new stake in FedEx during the first quarter worth $29,000. Evolution Wealth Advisors LLC bought a new stake in FedEx during the first quarter worth $31,000. Finally, Advocacy Wealth Management Services LLC lifted its stake in FedEx by 52.5% during the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 63 shares during the last quarter. 69.25% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:FDX opened at $164.55 on Monday. The firm has a market cap of $42.88 billion, a P/E ratio of 10.75, a P/E/G ratio of 0.79 and a beta of 1.69. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. FedEx Co. has a 12-month low of $150.68 and a 12-month high of $264.99.
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). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business had revenue of $17.01 billion for the quarter, compared to analyst estimates of $17.70 billion. During the same quarter in the previous year, the business posted $3.72 earnings per share. The business’s revenue was up 2.9% on a year-over-year basis. Analysts expect that FedEx Co. will post 15.42 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Shareholders 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 yield of 1.58%. FedEx’s payout ratio is currently 16.98%.
In other FedEx news, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was sold at an average price of $173.30, for a total value of $4,679,100.00. Following the sale, the executive vice president now owns 200,320 shares of the company’s stock, valued at $34,715,456. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 185,650 shares of company stock valued at $34,751,470. Company insiders own 8.50% of the company’s stock.
Several equities research analysts have weighed in on FDX shares. UBS Group cut FedEx from a “neutral” rating to a “sell” rating and cut their target price for the stock from $171.00 to $161.00 in a research note on Friday, April 26th. Morgan Stanley cut their target price on FedEx from $156.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 20th. Credit Suisse Group restated a “buy” rating and set a $241.00 target price on shares of FedEx in a research note on Monday, April 1st. Cowen reiterated an “outperform” rating and issued a $237.00 price target (down from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Finally, Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $202.43.
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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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