Kavar Capital Partners LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 300 shares of the shipping service provider’s stock, valued at approximately $49,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Lindbrook Capital LLC boosted its holdings in shares of FedEx by 7.2% in the 1st quarter. Lindbrook Capital LLC now owns 808 shares of the shipping service provider’s stock worth $146,000 after buying an additional 54 shares during the last quarter. Associated Banc Corp boosted its holdings in shares of FedEx by 3.7% in the 1st quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock worth $298,000 after buying an additional 59 shares during the last quarter. McIlrath & Eck LLC boosted its holdings in shares of FedEx by 27.5% in the 1st quarter. McIlrath & Eck LLC now owns 283 shares of the shipping service provider’s stock worth $51,000 after buying an additional 61 shares during the last quarter. Zions Bancorporation N.A. boosted its holdings in shares of FedEx by 4.0% in the 2nd quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock worth $273,000 after buying an additional 64 shares during the last quarter. Finally, Legacy Bridge LLC boosted its holdings in shares of FedEx by 13.8% in the 1st quarter. Legacy Bridge LLC now owns 535 shares of the shipping service provider’s stock worth $97,000 after buying an additional 65 shares during the last quarter. 68.64% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FDX traded up $3.18 during midday trading on Friday, hitting $156.00. 1,536,200 shares of the company traded hands, compared to its average volume of 2,020,749. The stock has a 50-day moving average of $164.88 and a 200-day moving average of $173.86. FedEx Co. has a one year low of $150.68 and a one year high of $259.25. The firm has a market cap of $40.44 billion, a P/E ratio of 10.05, a PEG ratio of 0.84 and a beta of 1.65. The company has a debt-to-equity ratio of 0.94, a current ratio of 1.45 and a quick ratio of 1.39.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.93 by $0.08. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The firm had revenue of $17.81 billion for the quarter, compared to analysts’ expectations of $17.85 billion. During the same period in the prior year, the business posted $5.91 earnings per share. The company’s revenue was up 2.8% on a year-over-year basis. Sell-side analysts forecast that FedEx Co. will post 14.61 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.67%. FedEx’s dividend payout ratio is presently 16.75%.
Several equities research analysts have commented on the stock. JPMorgan Chase & Co. dropped their price objective on shares of FedEx from $184.00 to $172.00 and set a “neutral” rating on the stock in a report on Wednesday, June 26th. Oppenheimer dropped their price objective on shares of FedEx from $192.00 to $176.00 and set an “outperform” rating on the stock in a report on Thursday, June 27th. Berenberg Bank set a $175.00 price objective on shares of FedEx and gave the company a “hold” rating in a report on Friday, June 28th. Barclays reaffirmed a “buy” rating and set a $185.00 price objective on shares of FedEx in a report on Thursday, June 13th. Finally, Citigroup dropped their price objective on shares of FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a report on Wednesday, June 26th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $191.63.
In related news, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of the company’s stock in a transaction that occurred on Thursday, July 11th. The stock was sold at an average price of $161.88, for a total transaction of $718,747.20. Following the completion of the transaction, the director now owns 16,440 shares in the company, valued at $2,661,307.20. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.
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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