Boston Private Wealth LLC Boosts Stake in FedEx Co. (FDX)
Boston Private Wealth LLC grew its holdings in FedEx Co. (NYSE:FDX) by 0.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 100,986 shares of the shipping service provider’s stock after purchasing an additional 776 shares during the period. Boston Private Wealth LLC’s holdings in FedEx were worth $22,780,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in FedEx by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares during the period. BlackRock Inc. increased 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 acquiring an additional 14,086,601 shares during the period. FMR LLC increased its holdings in FedEx by 0.3% during the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after acquiring an additional 15,382 shares during the period. Ameriprise Financial Inc. increased its holdings in FedEx by 7.3% during the 3rd quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock worth $885,594,000 after acquiring an additional 266,660 shares during the period. Finally, Capital World Investors increased its holdings in FedEx by 16.1% during the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after acquiring an additional 501,617 shares during the period. 75.73% of the stock is currently owned by institutional investors.
In other news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of 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 sold a total of 40,094 shares of company stock valued at $9,024,637 in the last ninety days. 8.45% of the stock is owned by corporate insiders.
A number of research firms recently weighed in on FDX. Wells Fargo & Company upped their target price on shares of FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $278.00 target price (up previously from $233.00) on shares of FedEx in a report on Thursday. Citigroup upped their target price on shares of FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday. Stifel Nicolaus reaffirmed a “hold” rating and set a $221.00 target price (up previously from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Loop Capital reissued a “buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of FedEx in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. FedEx presently has a consensus rating of “Buy” and an average target price of $235.21.
Shares of FedEx Co. (NYSE:FDX) opened at $238.50 on Friday. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $243.48. The stock has a market cap of $64,897.11, a price-to-earnings ratio of 20.32, a PEG ratio of 1.52 and a beta of 1.36. 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 quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the company posted $2.90 EPS. FedEx’s revenue for the quarter was up 4.1% on a year-over-year basis. analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.84%. FedEx’s dividend payout ratio (DPR) is 18.87%.
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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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