CRA Financial Services LLC grew its position in shares of FedEx Co. (NYSE:FDX – Get Rating) by 5.8% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 2,011 shares of the shipping service provider's stock after purchasing an additional 110 shares during the quarter. CRA Financial Services LLC's holdings in FedEx were worth $456,000 as of its most recent filing with the SEC.
Several other hedge funds also recently modified their holdings of the company. Bowling Portfolio Management LLC acquired a new position in shares of FedEx in the 2nd quarter worth $1,939,000. Charter Oak Capital Management LLC acquired a new position in shares of FedEx in the 2nd quarter worth $79,000. LeJeune Puetz Investment Counsel LLC grew its holdings in shares of FedEx by 16.1% in the 2nd quarter. LeJeune Puetz Investment Counsel LLC now owns 10,077 shares of the shipping service provider's stock worth $2,284,000 after acquiring an additional 1,397 shares during the last quarter. SOL Capital Management CO grew its holdings in shares of FedEx by 12.5% in the 2nd quarter. SOL Capital Management CO now owns 13,045 shares of the shipping service provider's stock worth $2,957,000 after acquiring an additional 1,445 shares during the last quarter. Finally, Keene & Associates Inc. grew its holdings in shares of FedEx by 1.2% in the 2nd quarter. Keene & Associates Inc. now owns 14,922 shares of the shipping service provider's stock worth $3,383,000 after acquiring an additional 180 shares during the last quarter. 71.62% of the stock is currently owned by institutional investors and hedge funds.
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Analyst Ratings Changes
A number of equities analysts recently issued reports on the company. Cowen decreased their target price on FedEx from $230.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, September 23rd. Deutsche Bank Aktiengesellschaft set a $320.00 price target on FedEx in a report on Monday, September 19th. StockNews.com downgraded FedEx from a "buy" rating to a "hold" rating in a report on Monday, September 19th. The Goldman Sachs Group lowered their price target on FedEx from $250.00 to $215.00 and set a "buy" rating on the stock in a report on Friday, September 23rd. Finally, Wells Fargo & Company reduced their price objective on FedEx from $269.00 to $199.00 and set an "overweight" rating for the company in a research report on Friday, September 16th. Ten investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $215.50.
FedEx Stock Performance
FDX stock opened at $148.47 on Friday. The business's fifty day moving average is $207.04 and its 200-day moving average is $213.71. The company has a quick ratio of 1.38, a current ratio of 1.42 and a debt-to-equity ratio of 0.79. The company has a market cap of $38.63 billion, a P/E ratio of 10.97, a price-to-earnings-growth ratio of 0.84 and a beta of 1.21. FedEx Co. has a twelve month low of $141.92 and a twelve month high of $266.79.
FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, missing analysts' consensus estimates of $5.14 by ($1.70). The company had revenue of $23.20 billion during the quarter, compared to analyst estimates of $23.78 billion. FedEx had a net margin of 3.79% and a return on equity of 20.95%. The business's revenue for the quarter was up 5.4% compared to the same quarter last year. During the same period last year, the company earned $4.37 EPS. Equities research analysts forecast that FedEx Co. will post 15.2 EPS for the current year.
FedEx Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date is Thursday, September 1st. FedEx's dividend payout ratio is currently 33.97%.
Insider Activity at FedEx
In related news, EVP Robert B. Carter sold 12,310 shares of the company's stock in a transaction on Friday, July 8th. The shares were sold at an average price of $230.61, for a total value of $2,838,809.10. Following the completion of the sale, the executive vice president now owns 54,916 shares in the company, valued at approximately $12,664,178.76. The transaction was disclosed in a filing with the SEC, which is available through this link. In other FedEx news, EVP Robert B. Carter sold 12,310 shares of the stock in a transaction dated Friday, July 8th. The stock was sold at an average price of $230.61, for a total transaction of $2,838,809.10. Following the completion of the transaction, the executive vice president now owns 54,916 shares in the company, valued at approximately $12,664,178.76. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director R Brad Martin bought 1,500 shares of the stock in a transaction on Monday, September 26th. The shares were purchased at an average price of $143.41 per share, with a total value of $215,115.00. Following the acquisition, the director now owns 750 shares in the company, valued at approximately $107,557.50. The disclosure for this purchase can be found here. Insiders sold a total of 48,810 shares of company stock worth $11,199,898 in the last quarter. Corporate insiders own 8.62% of the company's stock.
About FedEx
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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
Further Reading
- Get a free copy of the StockNews.com research report on FedEx (FDX)
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