Woodley Farra Manion Portfolio Management Inc. acquired a new stake in shares of FedEx Co. (NYSE:FDX – Get Rating) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,142 shares of the shipping service provider's stock, valued at approximately $260,000.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Successful Portfolios LLC lifted its holdings in FedEx by 6.9% during the second quarter. Successful Portfolios LLC now owns 932 shares of the shipping service provider's stock valued at $211,000 after purchasing an additional 60 shares in the last quarter. Artemis Investment Management LLP lifted its holdings in FedEx by 1,056.8% during the second quarter. Artemis Investment Management LLP now owns 267,172 shares of the shipping service provider's stock valued at $60,702,000 after purchasing an additional 244,077 shares in the last quarter. Culbertson A N & Co Inc lifted its holdings in FedEx by 3.1% during the second quarter. Culbertson A N & Co Inc now owns 31,794 shares of the shipping service provider's stock valued at $7,208,000 after purchasing an additional 945 shares in the last quarter. Sandy Spring Bank lifted its holdings in FedEx by 2.9% during the second quarter. Sandy Spring Bank now owns 11,187 shares of the shipping service provider's stock valued at $2,536,000 after purchasing an additional 312 shares in the last quarter. Finally, CRA Financial Services LLC lifted its holdings in FedEx by 5.8% during the second quarter. CRA Financial Services LLC now owns 2,011 shares of the shipping service provider's stock valued at $456,000 after purchasing an additional 110 shares in the last quarter. 71.62% of the stock is owned by hedge funds and other institutional investors.
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Analyst Upgrades and Downgrades
FDX has been the topic of several research reports. Bank of America decreased their price target on shares of FedEx from $186.00 to $178.00 and set a "neutral" rating on the stock in a research note on Friday, September 23rd. Stephens decreased their price target on shares of FedEx from $295.00 to $200.00 in a research note on Friday, September 23rd. Cowen decreased their price target on shares of FedEx from $230.00 to $185.00 and set an "outperform" rating on the stock in a research note on Friday, September 23rd. Stifel Nicolaus downgraded shares of FedEx from a "buy" rating to a "hold" rating and decreased their price target for the stock from $288.00 to $195.00 in a research note on Friday, September 16th. Finally, Barclays decreased their price target on shares of FedEx from $320.00 to $240.00 and set an "overweight" rating on the stock in a research note on Monday, September 19th. Ten equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $215.50.
Insider Transactions at FedEx
In related news, Director Vincenzo J. Vena acquired 900 shares of FedEx stock in a transaction dated Wednesday, July 6th. The stock was acquired at an average price of $230.04 per share, for a total transaction of $207,036.00. Following the transaction, the director now owns 1,325 shares of the company's stock, valued at $304,803. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through
this hyperlink. In other FedEx news, Director Vincenzo J. Vena bought 900 shares of the business's stock in a transaction dated Wednesday, July 6th. The shares were acquired at an average cost of $230.04 per share, with a total value of $207,036.00. Following the acquisition, the director now directly owns 1,325 shares of the company's stock, valued at approximately $304,803. The purchase was disclosed in a filing with the SEC, which is accessible through
this hyperlink. Also, Director R Brad Martin bought 1,500 shares of the business's stock in a transaction dated Monday, September 26th. The stock was acquired at an average cost of $143.41 per share, for a total transaction of $215,115.00. Following the completion of the acquisition, the director now directly owns 750 shares in the company, valued at $107,557.50. The disclosure for this purchase can be found
here. In the last quarter, insiders sold 48,810 shares of company stock worth $11,199,898. 8.62% of the stock is currently owned by insiders.
FedEx Trading Down 2.5 %
NYSE FDX opened at $148.47 on Friday. The firm has a 50 day simple moving average of $207.04 and a 200-day simple moving average of $213.63. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.38 and a current ratio of 1.42. FedEx Co. has a one year low of $141.92 and a one year high of $266.79. The firm has a market cap of $38.63 billion, a price-to-earnings ratio of 10.97, a PEG ratio of 0.84 and a beta of 1.21.
FedEx (NYSE:FDX – Get Rating) last issued its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $5.14 by ($1.70). The firm had revenue of $23.20 billion during the quarter, compared to analysts' expectations of $23.78 billion. FedEx had a return on equity of 20.95% and a net margin of 3.79%. The firm's revenue was up 5.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $4.37 EPS. Equities research analysts anticipate that FedEx Co. will post 15.2 EPS for the current fiscal year.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a dividend of $1.15 per share. The ex-dividend date of this dividend is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 3.10%. FedEx's dividend payout ratio is presently 33.97%.
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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