USA Financial Portformulas Corp Acquires New Holdings in FedEx Co. (FDX)
USA Financial Portformulas Corp acquired a new stake in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,289 shares of the shipping service provider’s stock, valued at approximately $291,000.
Several other hedge funds have also recently bought and sold shares of FDX. FNY Managed Accounts LLC acquired a new stake in shares of FedEx in the first quarter valued at approximately $100,000. Salem Investment Counselors Inc. boosted its holdings in shares of FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the period. Krilogy Financial LLC boosted its holdings in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the period. Alexandria Capital LLC boosted its holdings in shares of FedEx by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Hefty Wealth Partners boosted its holdings in shares of FedEx by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the period. 75.74% of the stock is owned by institutional investors and hedge funds.
Several research firms have recently weighed in on FDX. Barclays reissued a “top pick” rating and issued a $270.00 price objective on shares of FedEx in a report on Thursday. They noted that the move was a valuation call. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Monday. Sanford C. Bernstein set a $212.00 price target on FedEx and gave the stock a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group started coverage on FedEx in a research note on Monday, November 13th. They set a “buy” rating and a $270.00 price target for the company. Finally, Oppenheimer restated a “buy” rating and set a $236.00 price target on shares of FedEx in a research note on Friday, October 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, twenty-two have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus price target of $231.81.
FedEx Co. (NYSE FDX) traded up $4.51 during trading hours on Thursday, reaching $230.44. The company’s stock had a trading volume of 216,649 shares, compared to its average volume of 1,461,825. The stock has a market capitalization of $58,592.95, a PE ratio of 18.35, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $231.35.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx had a return on equity of 20.69% and a net margin of 4.72%. The company’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 EPS. sell-side analysts anticipate that FedEx Co. will post 12.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.87%. The ex-dividend date is Friday, December 8th. FedEx’s payout ratio is 18.87%.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock valued at $9,024,637 in the last quarter. 8.45% of the stock is currently owned by company insiders.
FedEx Company Profile
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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