FedEx Co. (FDX) Shares Bought by Jacobi Capital Management LLC
Jacobi Capital Management LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 1,556.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,002 shares of the shipping service provider’s stock after acquiring an additional 4,700 shares during the period. Jacobi Capital Management LLC’s holdings in FedEx were worth $1,104,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Joel Isaacson & Co. LLC acquired a new position in shares of FedEx during the third quarter valued at about $261,000. Keybank National Association OH raised its position in shares of FedEx by 2.2% during the third quarter. Keybank National Association OH now owns 42,408 shares of the shipping service provider’s stock valued at $9,566,000 after buying an additional 930 shares during the last quarter. Prudential Financial Inc. raised its position in shares of FedEx by 17.5% during the third quarter. Prudential Financial Inc. now owns 926,570 shares of the shipping service provider’s stock valued at $209,015,000 after buying an additional 137,880 shares during the last quarter. Smith Moore & CO. acquired a new position in shares of FedEx during the third quarter valued at about $396,000. Finally, Minneapolis Portfolio Management Group LLC raised its position in shares of FedEx by 1.3% during the third quarter. Minneapolis Portfolio Management Group LLC now owns 146,611 shares of the shipping service provider’s stock valued at $33,073,000 after buying an additional 1,884 shares during the last quarter. 75.74% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Co. (NYSE FDX) opened at $230.84 on Friday. The firm has a market cap of $62,065.47, a PE ratio of 19.43, a P/E/G ratio of 1.46 and a beta of 1.36. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $233.89. 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 (NYSE:FDX) last posted its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.90 EPS. equities analysts expect that FedEx Co. will post 12.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.50 per share. The ex-dividend date is Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.87%. FedEx’s dividend payout ratio is 18.87%.
A number of research analysts have recently commented on the stock. Barclays reaffirmed an “overweight” rating and set a $270.00 price objective (up previously from $230.00) on shares of FedEx in a research report on Thursday. They noted that the move was a valuation call. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. Sanford C. Bernstein set a $212.00 price objective on shares of FedEx and gave the company a “hold” rating in a research report on Wednesday, November 15th. Goldman Sachs Group assumed coverage on shares of FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price objective for the company. Finally, Oppenheimer reaffirmed a “buy” rating and set a $236.00 price objective on shares of FedEx in a research report on Friday, October 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. FedEx presently has an average rating of “Buy” and an average price target of $231.81.
In other FedEx news, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 over the last ninety days. 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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