Birch Hill Investment Advisors LLC grew its stake in shares of FedEx Co. (NYSE:FDX) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 23,256 shares of the shipping service provider’s stock after buying an additional 745 shares during the period. Birch Hill Investment Advisors LLC’s holdings in FedEx were worth $3,385,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds also recently made changes to their positions in the company. Edmp Inc. acquired a new position in shares of FedEx during the third quarter valued at about $740,000. Osborn Williams & Donohoe LLC raised its position in FedEx by 9.8% in the third quarter. Osborn Williams & Donohoe LLC now owns 3,921 shares of the shipping service provider’s stock worth $571,000 after purchasing an additional 350 shares in the last quarter. Signaturefd LLC raised its position in FedEx by 21.8% in the third quarter. Signaturefd LLC now owns 1,673 shares of the shipping service provider’s stock worth $244,000 after purchasing an additional 300 shares in the last quarter. CIBC Private Wealth Group LLC raised its position in FedEx by 230.6% in the third quarter. CIBC Private Wealth Group LLC now owns 68,069 shares of the shipping service provider’s stock worth $9,909,000 after purchasing an additional 47,478 shares in the last quarter. Finally, Ingalls & Snyder LLC raised its position in FedEx by 104.8% in the third quarter. Ingalls & Snyder LLC now owns 33,356 shares of the shipping service provider’s stock worth $4,856,000 after purchasing an additional 17,072 shares in the last quarter. 71.33% of the stock is owned by institutional investors and hedge funds.
In related news, Director R Brad Martin purchased 1,000 shares of the firm’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average cost of $145.00 per share, with a total value of $145,000.00. Following the completion of the purchase, the director now directly owns 49,046 shares of the company’s stock, valued at $7,111,670. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction that occurred on Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the sale, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
Several research analysts recently issued reports on FDX shares. Loop Capital dropped their price target on shares of FedEx to $200.00 and set a “buy” rating for the company in a research report on Monday, September 23rd. JPMorgan Chase & Co. set a $140.00 price target on shares of FedEx and gave the stock a “neutral” rating in a research report on Friday, October 4th. Edward Jones lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, September 18th. DZ Bank reissued a “sell” rating on shares of FedEx in a research report on Wednesday, September 18th. Finally, Goldman Sachs Group started coverage on shares of FedEx in a research report on Wednesday, July 10th. They issued a “buy” rating and a $200.00 price target for the company. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. FedEx presently has an average rating of “Hold” and a consensus target price of $171.64.
Shares of FDX traded up $0.32 during mid-day trading on Thursday, hitting $151.09. 655,704 shares of the company traded hands, compared to its average volume of 4,168,273. FedEx Co. has a one year low of $137.78 and a one year high of $234.49. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70. The business has a 50-day moving average of $152.96 and a 200 day moving average of $166.21. The stock has a market capitalization of $38.30 billion, a price-to-earnings ratio of 9.74, a PEG ratio of 1.01 and a beta of 1.72.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The company had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the company earned $3.46 earnings per share. FedEx’s revenue for the quarter was up .0% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 12.11 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.72%. FedEx’s dividend payout ratio (DPR) is currently 16.75%.
FedEx Company Profile
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.
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