Quantamental Technologies LLC bought a new stake in FedEx Co. (NYSE:FDX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 579 shares of the shipping service provider’s stock, valued at approximately $95,000.
Several other hedge funds also recently modified their holdings of FDX. Sageworth Trust Co bought a new stake in shares of FedEx in the 2nd quarter worth approximately $25,000. Evolution Wealth Advisors LLC acquired a new stake in FedEx during the 1st quarter worth $31,000. Nelson Roberts Investment Advisors LLC purchased a new stake in FedEx during the 2nd quarter valued at approximately $34,000. Icon Wealth Partners LLC acquired a new stake in FedEx during the 1st quarter worth approximately $38,000. Finally, Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx during the 2nd quarter worth approximately $39,000. Institutional investors own 71.40% of the company’s stock.
Shares of NYSE:FDX traded up $0.03 on Wednesday, hitting $172.29. The company had a trading volume of 74,093 shares, compared to its average volume of 1,541,874. The firm’s 50-day simple moving average is $161.64 and its two-hundred day simple moving average is $171.12. The firm has a market capitalization of $43.66 billion, a price-to-earnings ratio of 11.08, a P/E/G ratio of 0.90 and a beta of 1.69. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. FedEx Co. has a 1 year low of $147.82 and a 1 year high of $259.25.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, topping the consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. FedEx’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same period last year, the company earned $5.91 EPS. Equities research analysts anticipate that FedEx Co. will post 14.7 EPS for the current year.
The firm 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 $0.65 dividend. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.51%. FedEx’s payout ratio is currently 16.75%.
A number of research firms have recently issued reports on FDX. Berenberg Bank set a $175.00 target price on shares of FedEx and gave the stock a “hold” rating in a research note on Friday, June 28th. Deutsche Bank reaffirmed a “buy” rating on shares of FedEx in a research report on Wednesday, June 26th. Stephens set a $210.00 price objective on FedEx and gave the company a “buy” rating in a report on Wednesday, June 26th. KeyCorp cut their target price on FedEx from $215.00 to $190.00 and set an “overweight” rating on the stock in a report on Wednesday, June 12th. Finally, UBS Group set a $136.00 price target on FedEx and gave the company a “sell” rating in a research report on Wednesday, June 26th. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating and sixteen have given a buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and an average target price of $190.92.
In other news, 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 directly owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
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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