FedEx Co. (FDX) Stake Raised by Pennsylvania Trust Co
Pennsylvania Trust Co grew its position in shares of FedEx Co. (NYSE:FDX) by 2.1% during the third quarter, Holdings Channel reports. The institutional investor owned 14,855 shares of the shipping service provider’s stock after purchasing an additional 300 shares during the period. Pennsylvania Trust Co’s holdings in FedEx were worth $3,577,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Achmea Investment Management B.V. boosted its holdings in FedEx by 188.1% in the first quarter. Achmea Investment Management B.V. now owns 3,503 shares of the shipping service provider’s stock worth $839,000 after purchasing an additional 2,287 shares during the last quarter. Blair William & Co. IL boosted its holdings in FedEx by 1.7% in the first quarter. Blair William & Co. IL now owns 68,599 shares of the shipping service provider’s stock worth $16,471,000 after purchasing an additional 1,155 shares during the last quarter. Ostrum Asset Management purchased a new stake in FedEx in the first quarter worth approximately $1,033,000. Arete Wealth Advisors LLC boosted its holdings in FedEx by 34.2% in the first quarter. Arete Wealth Advisors LLC now owns 1,086 shares of the shipping service provider’s stock worth $261,000 after purchasing an additional 277 shares during the last quarter. Finally, Ladenburg Thalmann Financial Services Inc. boosted its holdings in FedEx by 18.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 45,195 shares of the shipping service provider’s stock worth $10,776,000 after purchasing an additional 7,114 shares during the last quarter. Hedge funds and other institutional investors own 72.77% of the company’s stock.
Several equities research analysts recently issued reports on the stock. Credit Suisse Group raised their target price on shares of FedEx from $306.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, June 20th. Zacks Investment Research cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Loop Capital dropped their target price on shares of FedEx to $310.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. Bank of America dropped their target price on shares of FedEx from $310.00 to $304.00 and set a “buy” rating on the stock in a report on Tuesday, September 18th. Finally, Oppenheimer raised their target price on shares of FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, June 14th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus price target of $286.14.
Shares of FedEx stock opened at $221.46 on Thursday. The firm has a market cap of $63.45 billion, a PE ratio of 14.47, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. FedEx Co. has a 1-year low of $214.17 and a 1-year high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The business had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.65 EPS. As a group, equities analysts expect that FedEx Co. will post 17.36 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.17%. The ex-dividend date was Friday, September 7th. FedEx’s dividend payout ratio is presently 16.98%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
Featured Article: What is a Fiduciary?
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.