Evergreen Capital Management LLC Raises Holdings in FedEx Co. (FDX)
Evergreen Capital Management LLC boosted its holdings in FedEx Co. (NYSE:FDX) by 7.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 18,906 shares of the shipping service provider’s stock after acquiring an additional 1,229 shares during the quarter. Evergreen Capital Management LLC’s holdings in FedEx were worth $4,265,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of FDX. BlackRock Inc. raised its holdings in FedEx by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the period. Harbour Capital Advisors LLC raised its holdings in FedEx by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after buying an additional 1,418,066 shares during the period. Davis Selected Advisers raised its holdings in FedEx by 265.4% during the 2nd quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after buying an additional 1,223,646 shares during the period. Janus Henderson Group PLC raised its holdings in FedEx by 381.6% during the 2nd quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after buying an additional 699,728 shares during the period. Finally, Jackson Square Partners LLC raised its holdings in FedEx by 28.7% during the 2nd quarter. Jackson Square Partners LLC now owns 2,905,839 shares of the shipping service provider’s stock worth $631,525,000 after buying an additional 647,401 shares during the period. Hedge funds and other institutional investors own 75.73% of the company’s stock.
Several analysts have issued reports on the company. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Tuesday. Citigroup boosted their price objective on FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday. Barclays restated an “overweight” rating and set a $270.00 price objective (up previously from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. Cowen restated an “outperform” rating and set a $240.00 price objective on shares of FedEx in a report on Friday, October 13th. Finally, Oppenheimer reaffirmed a “buy” rating and set a $236.00 target price on shares of FedEx in a research note on Friday, October 20th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $233.41.
Shares of FedEx Co. (FDX) opened at $242.02 on Thursday. The company has a market capitalization of $64,221.38, a P/E ratio of 20.11, a P/E/G ratio of 1.51 and a beta of 1.36. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $243.48. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. FedEx had a return on equity of 20.69% and a net margin of 4.72%. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.90 EPS. research analysts expect that FedEx Co. will post 12.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. FedEx’s payout ratio is currently 18.87%.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction that occurred 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 sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction that occurred on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, the director now directly owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 in the last ninety days. Company insiders own 8.45% of the company’s stock.
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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