KBC Group NV Has $13.78 Million Holdings in FedEx Co. (FDX)
KBC Group NV trimmed its position in shares of FedEx Co. (NYSE:FDX) by 15.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 61,094 shares of the shipping service provider’s stock after selling 10,881 shares during the quarter. KBC Group NV’s holdings in FedEx were worth $13,781,000 at the end of the most recent reporting period.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of FedEx by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after acquiring an additional 14,086,601 shares in the last quarter. Harbour Capital Advisors LLC increased its holdings in shares of FedEx by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after acquiring an additional 1,418,066 shares in the last quarter. Davis Selected Advisers increased its holdings in FedEx by 265.4% in 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 increased its holdings in FedEx by 381.6% in 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 increased its holdings in FedEx by 28.7% in 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. 75.73% of the stock is owned by institutional investors and hedge funds.
FedEx Co. (NYSE:FDX) opened at $240.05 on Friday. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $243.48. The firm has a market capitalization of $63,953.23, a price-to-earnings ratio of 20.02, a price-to-earnings-growth ratio of 1.50 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 issued 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). 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 analyst estimates of $15.35 billion. During the same period last year, the business earned $2.90 earnings per share. The firm’s revenue was up 4.1% compared to the same quarter last year. equities research analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal 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 paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 18.87%.
FDX has been the topic of several research reports. Vetr downgraded shares of FedEx to a “sell” rating and set a $204.84 price target on the stock. in a report on Thursday, August 31st. J P Morgan Chase & Co increased their price target on shares of FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They issued a “buy” rating and a $270.00 price target on the stock. Credit Suisse Group reiterated an “outperform” rating and issued a $233.00 price target (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Finally, Robert W. Baird reiterated a “buy” rating and issued a $235.00 price target on shares of FedEx in a report on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $235.21.
In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction on Friday, September 29th. The stock was 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 directly 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 can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction dated 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 sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. 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 over the last ninety days. Corporate 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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