Bridges Investment Management Inc. lessened its stake in shares of FedEx Co. (NYSE:FDX) by 83.7% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 27,867 shares of the shipping service provider’s stock after selling 143,266 shares during the quarter. Bridges Investment Management Inc.’s holdings in FedEx were worth $4,214,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in FDX. Psagot Investment House Ltd. raised its stake in FedEx by 1.2% in the 3rd quarter. Psagot Investment House Ltd. now owns 76,021 shares of the shipping service provider’s stock valued at $11,066,000 after purchasing an additional 920 shares during the last quarter. Colony Group LLC raised its stake in FedEx by 2.1% in the 3rd quarter. Colony Group LLC now owns 37,946 shares of the shipping service provider’s stock valued at $5,524,000 after purchasing an additional 781 shares during the last quarter. Voya Investment Management LLC raised its stake in FedEx by 3.7% in the 3rd quarter. Voya Investment Management LLC now owns 144,796 shares of the shipping service provider’s stock valued at $21,078,000 after purchasing an additional 5,138 shares during the last quarter. Stifel Financial Corp raised its stake in FedEx by 4.5% in the 3rd quarter. Stifel Financial Corp now owns 219,523 shares of the shipping service provider’s stock valued at $31,899,000 after purchasing an additional 9,411 shares during the last quarter. Finally, Global Retirement Partners LLC raised its stake in FedEx by 22.4% in the 3rd quarter. Global Retirement Partners LLC now owns 524 shares of the shipping service provider’s stock valued at $76,000 after purchasing an additional 96 shares during the last quarter. 73.00% of the stock is owned by institutional investors.
FDX has been the subject of several recent analyst reports. KeyCorp restated a “hold” rating on shares of FedEx in a report on Wednesday, December 18th. Credit Suisse Group lowered their price target on FedEx from $159.00 to $121.00 and set an “outperform” rating for the company in a report on Wednesday, March 18th. Oppenheimer cut FedEx from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th. Stephens lowered their price target on FedEx from $180.00 to $145.00 and set an “overweight” rating for the company in a report on Monday, March 16th. Finally, Raymond James lowered their price target on FedEx from $167.00 to $150.00 and set an “outperform” rating for the company in a report on Wednesday, March 18th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $154.75.
In other FedEx news, EVP Alan B. Graf, Jr. sold 18,829 shares of the company’s stock in a transaction that occurred on Thursday, March 19th. The stock was sold at an average price of $110.49, for a total value of $2,080,416.21. Following the completion of the transaction, the executive vice president now owns 201,050 shares in the company, valued at approximately $22,214,014.50. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson purchased 5,000 shares of the firm’s stock in a transaction on Friday, March 20th. The stock was bought at an average price of $111.06 per share, with a total value of $555,300.00. Following the acquisition, the director now owns 82,966 shares in the company, valued at $9,214,203.96. The disclosure for this purchase can be found here. 8.44% of the stock is owned by corporate insiders.
Shares of NYSE:FDX opened at $118.31 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 1.16 and a current ratio of 1.21. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $199.32. The stock has a market capitalization of $31.36 billion, a P/E ratio of -85.12, a PEG ratio of 1.04 and a beta of 1.57. The stock has a 50-day simple moving average of $136.24 and a 200-day simple moving average of $150.17.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 17th. The shipping service provider reported $1.41 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $1.41. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. The business had revenue of $17.49 billion during the quarter, compared to analysts’ expectations of $16.89 billion. During the same quarter in the previous year, the business earned $3.03 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. Analysts predict that FedEx Co. will post 9.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Stockholders of record on Monday, March 9th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 2.20%. The ex-dividend date of this dividend is Friday, March 6th. FedEx’s payout ratio 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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