Schwab Charles Investment Management Inc. raised its stake in FedEx Co. (NYSE:FDX) by 0.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 939,199 shares of the shipping service provider’s stock after acquiring an additional 4,736 shares during the period. Schwab Charles Investment Management Inc. owned approximately 0.35% of FedEx worth $211,865,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Salem Investment Counselors Inc. raised its holdings in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC raised its holdings in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of FedEx during the 1st quarter worth $100,000. Alexandria Capital LLC raised its holdings in shares of FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new position in shares of FedEx during the 3rd quarter worth $132,000. 75.73% of the stock is owned by hedge funds and other institutional investors.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now owns 30,499 shares in the company, valued at approximately $6,709,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now owns 6,080 shares in the company, valued at approximately $1,371,344. The disclosure for this sale can be found here. In the last ninety days, insiders sold 40,094 shares of company stock valued at $9,024,637. Insiders own 8.45% of the company’s stock.
FDX has been the subject of a number of research analyst reports. Wells Fargo & Company boosted their price target on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Citigroup boosted their price target on FedEx to $275.00 and gave the stock a “buy” rating in a report on Tuesday. Credit Suisse Group reissued an “outperform” rating and set a $233.00 price target (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Bank of America reissued a “buy” rating and set a $247.00 price target (up previously from $240.00) on shares of FedEx in a report on Friday, October 6th. Finally, Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and a consensus target price of $233.41.
FedEx Co. (FDX) opened at $242.02 on Thursday. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $243.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The stock has a market capitalization of $64,221.38, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. During the same period in the previous year, the company earned $2.90 EPS. FedEx’s revenue for the quarter was up 4.1% on a year-over-year basis. equities analysts forecast that FedEx Co. will post 12.47 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. FedEx’s payout ratio is presently 18.87%.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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