Pasadena Private Wealth LLC acquired a new stake in FedEx Co. (NYSE:FDX) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,847 shares of the shipping service provider’s stock, valued at approximately $269,000.
Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund raised its position in FedEx by 22.0% during the 2nd quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock worth $17,637,000 after buying an additional 19,349 shares during the last quarter. InterOcean Capital LLC raised its position in FedEx by 8.0% during the 2nd quarter. InterOcean Capital LLC now owns 160,442 shares of the shipping service provider’s stock worth $26,343,000 after buying an additional 11,932 shares during the last quarter. Heritage Investors Management Corp raised its position in FedEx by 4.3% during the 2nd quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock worth $12,610,000 after buying an additional 3,189 shares during the last quarter. Greylin Investment Mangement Inc. raised its position in FedEx by 25.7% during the 2nd quarter. Greylin Investment Mangement Inc. now owns 10,717 shares of the shipping service provider’s stock worth $1,760,000 after buying an additional 2,194 shares during the last quarter. Finally, Baker Ellis Asset Management LLC raised its position in FedEx by 4.2% during the 2nd quarter. Baker Ellis Asset Management LLC now owns 4,950 shares of the shipping service provider’s stock worth $813,000 after buying an additional 200 shares during the last quarter. 71.33% of the stock is owned by hedge funds and other institutional investors.
FedEx stock traded up $0.52 during trading on Thursday, reaching $151.30. The company had a trading volume of 1,072,412 shares, compared to its average volume of 4,168,273. The firm’s 50-day simple moving average is $152.96 and its 200 day simple moving average is $166.21. FedEx Co. has a 1-year low of $137.78 and a 1-year high of $234.49. The firm has a market capitalization of $38.30 billion, a PE ratio of 9.75, a price-to-earnings-growth ratio of 1.01 and a beta of 1.72. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $17.05 billion. During the same period in the prior year, the business posted $3.46 EPS. FedEx’s revenue was up .0% compared to the same quarter last year. Analysts anticipate that FedEx Co. will post 12.11 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.72%. FedEx’s payout ratio is currently 16.75%.
FDX has been the subject of a number of recent research reports. Cowen reduced their price target on shares of FedEx from $206.00 to $190.00 and set an “outperform” rating for the company in a research report on Wednesday, September 18th. Goldman Sachs Group initiated coverage on shares of FedEx in a research report on Wednesday, July 10th. They set a “buy” rating and a $200.00 price target for the company. Berenberg Bank set a $155.00 price target on shares of FedEx and gave the stock a “hold” rating in a research report on Friday, October 11th. UBS Group dropped their price objective on shares of FedEx from $136.00 to $132.00 and set a “sell” rating on the stock in a research note on Wednesday, September 18th. Finally, BMO Capital Markets cut shares of FedEx from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $190.00 to $165.00 in a research note on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $171.64.
In other FedEx news, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction on Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin acquired 1,000 shares of the firm’s stock in a transaction on Friday, September 27th. The stock was purchased at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the acquisition, the director now directly owns 49,046 shares in the company, valued at approximately $7,111,670. The disclosure for this purchase can be found here. Company insiders own 8.44% of the company’s stock.
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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