FedEx Co. (FDX) Shares Bought by Mitsubishi UFJ Kokusai Asset Management Co. Ltd.
Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its stake in FedEx Co. (NYSE:FDX) by 4.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,977 shares of the shipping service provider’s stock after acquiring an additional 1,656 shares during the quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in FedEx were worth $8,567,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently made changes to their positions in FDX. FNY Managed Accounts LLC bought a new stake in FedEx during the first quarter valued at approximately $100,000. Salem Investment Counselors Inc. grew its position in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after buying an additional 13 shares during the period. Krilogy Financial LLC grew its position in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the period. Alexandria Capital LLC grew its position in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after buying an additional 13 shares during the period. Finally, Hefty Wealth Partners grew its position in FedEx by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after buying an additional 130 shares during the period. Hedge funds and other institutional investors own 75.74% of the company’s stock.
Several analysts recently issued reports on the stock. Cowen restated an “outperform” rating and set a $240.00 target price on shares of FedEx in a research report on Friday, October 13th. Oppenheimer reiterated a “buy” rating and issued a $236.00 price target on shares of FedEx in a research report on Friday, October 20th. J P Morgan Chase & Co upped their price target on shares of FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Finally, Bank of America reiterated a “buy” rating and issued a $247.00 price target (up from $240.00) on shares of FedEx in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $230.21.
FedEx Co. (NYSE FDX) traded up $5.07 during mid-day trading on Wednesday, hitting $223.58. 147,059 shares of the stock traded hands, compared to its average volume of 1,459,991. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $231.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The stock has a market capitalization of $58,188.05, a P/E ratio of 18.22, a PEG ratio of 1.36 and a beta of 1.37.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the firm posted $2.90 EPS. FedEx’s quarterly revenue was up 4.1% compared to the same quarter last year. equities analysts expect that FedEx Co. will post 12.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 18.87%.
In other news, insider Henry J. Maier sold 11,150 shares of the business’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock worth $9,024,637 in the last three months. Insiders own 8.45% of the company’s stock.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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