Waters Parkerson & CO. LLC Acquires New Holdings in FedEx Co. (FDX)
Waters Parkerson & CO. LLC acquired a new position in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 900 shares of the shipping service provider’s stock, valued at approximately $203,000.
A number of other hedge funds also recently bought and sold shares of FDX. Lazard Asset Management LLC raised its holdings in FedEx by 127.9% during the 1st quarter. Lazard Asset Management LLC now owns 130,828 shares of the shipping service provider’s stock worth $25,529,000 after buying an additional 73,424 shares during the period. First Heartland Consultants Inc. raised its holdings in FedEx by 3.3% during the 1st quarter. First Heartland Consultants Inc. now owns 1,290 shares of the shipping service provider’s stock worth $252,000 after buying an additional 41 shares during the period. Miles Capital Inc. raised its holdings in FedEx by 4.3% during the 1st quarter. Miles Capital Inc. now owns 7,779 shares of the shipping service provider’s stock worth $1,518,000 after buying an additional 323 shares during the period. 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. Finally, Capital Investment Counsel Inc raised its holdings in FedEx by 1.9% during the 1st quarter. Capital Investment Counsel Inc now owns 4,585 shares of the shipping service provider’s stock worth $895,000 after buying an additional 85 shares during the period. 75.73% of the stock is owned by institutional investors and hedge funds.
FDX has been the topic of several recent analyst reports. Wells Fargo & Company boosted their price objective on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Citigroup boosted their price objective on FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday, December 12th. Credit Suisse Group restated an “outperform” rating and set a $233.00 price objective (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Bank of America restated a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx in a report on Friday, October 6th. Finally, Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company. FedEx has a consensus rating of “Buy” and an average price target of $235.21.
In related news, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction that occurred 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 owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last three months, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by company insiders.
FedEx Co. (NYSE FDX) opened at $240.05 on Monday. The firm has a market capitalization of $64,368.93, a PE ratio of 20.16, a PEG ratio of 1.51 and a beta of 1.36. FedEx Co. has a twelve month low of $182.89 and a twelve 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 issued its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. FedEx’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.90 EPS. sell-side analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors 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 annualized dividend and a dividend yield of 0.83%. FedEx’s payout ratio is 18.87%.
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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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