Carlton Hofferkamp & Jenks Wealth Management LLC cut its stake in FedEx Co. (NYSE:FDX) by 4.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,600 shares of the shipping service provider’s stock after selling 275 shares during the period. Carlton Hofferkamp & Jenks Wealth Management LLC’s holdings in FedEx were worth $792,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently modified their holdings of the company. Sageworth Trust Co acquired a new stake in shares of FedEx in the 2nd quarter valued at about $25,000. CX Institutional acquired a new stake in shares of FedEx in the 3rd quarter valued at about $29,000. Accurate Investment Solutions Inc. raised its stake in shares of FedEx by 125.0% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 125 shares during the period. Nelson Roberts Investment Advisors LLC acquired a new stake in shares of FedEx in the 2nd quarter valued at about $34,000. Finally, First PREMIER Bank acquired a new stake in shares of FedEx in the 3rd quarter valued at about $36,000. 71.32% of the stock is owned by institutional investors and hedge funds.
FedEx stock traded up $3.77 during midday trading on Friday, reaching $145.13. 201,643 shares of the company’s stock were exchanged, compared to its average volume of 3,954,249. FedEx Co. has a 52 week low of $137.78 and a 52 week high of $234.49. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. The firm has a market cap of $36.11 billion, a price-to-earnings ratio of 9.34, a P/E/G ratio of 0.95 and a beta of 1.72. The stock’s 50-day simple moving average is $153.78 and its 200 day simple moving average is $167.03.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The business had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter in the previous year, the business posted $3.46 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. Research analysts forecast that FedEx Co. will post 12.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date of this dividend was Friday, September 6th. FedEx’s dividend payout ratio is presently 16.75%.
In other news, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction that occurred on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares in the company, valued at $12,031,437.88. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin acquired 1,000 shares of FedEx stock in a transaction dated Friday, September 27th. The shares were purchased at an average price of $145.00 per share, with a total value of $145,000.00. Following the acquisition, the director now owns 49,046 shares of the company’s stock, valued at $7,111,670. The disclosure for this purchase can be found here. Insiders own 8.44% of the company’s stock.
A number of research firms recently issued reports on FDX. Loop Capital lowered their target price on FedEx to $200.00 and set a “buy” rating on the stock in a research report on Monday, September 23rd. BMO Capital Markets downgraded FedEx from an “outperform” rating to a “market perform” rating and lowered their target price for the company from $190.00 to $165.00 in a research report on Wednesday, September 18th. ValuEngine raised FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. JPMorgan Chase & Co. set a $140.00 target price on FedEx and gave the company a “neutral” rating in a research report on Friday, October 4th. Finally, Deutsche Bank raised FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the company. FedEx presently has a consensus rating of “Hold” and a consensus price target of $171.64.
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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