Wesbanco Bank Inc. trimmed its stake in FedEx Co. (NYSE:FDX) by 1.9% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 80,570 shares of the shipping service provider’s stock after selling 1,548 shares during the quarter. FedEx accounts for 0.9% of Wesbanco Bank Inc.’s portfolio, making the stock its 25th biggest holding. Wesbanco Bank Inc.’s holdings in FedEx were worth $18,294,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors also recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its stake in shares of FedEx by 14,866.7% in the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock worth $108,000 after purchasing an additional 446 shares during the last quarter. Vigilant Capital Management LLC purchased a new position in shares of FedEx in the second quarter worth $114,000. IMA Wealth Inc. purchased a new position in shares of FedEx in the second quarter worth $136,000. Trust Department MB Financial Bank N A purchased a new position in shares of FedEx in the second quarter worth $141,000. Finally, Kaizen Advisory LLC raised its stake in shares of FedEx by 174.2% in the second quarter. Kaizen Advisory LLC now owns 647 shares of the shipping service provider’s stock worth $147,000 after purchasing an additional 411 shares during the last quarter. 72.70% of the stock is currently owned by institutional investors and hedge funds.
FedEx stock traded up $2.87 during mid-day trading on Tuesday, reaching $251.66. 56,274 shares of the stock traded hands, compared to its average volume of 1,224,559. The stock has a market cap of $65.30 billion, a PE ratio of 16.44, a price-to-earnings-growth ratio of 1.12 and a beta of 1.43. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.33 and a current ratio of 1.39. FedEx Co. has a 12-month low of $204.87 and a 12-month high of $274.66.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.19. The company had revenue of $17.31 billion during the quarter, compared to analysts’ expectations of $17.24 billion. FedEx had a return on equity of 23.17% and a net margin of 6.99%. FedEx’s revenue for the quarter was up 10.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.25 earnings per share. sell-side analysts predict that FedEx Co. will post 17.31 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Shareholders of record on Monday, September 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.03%. The ex-dividend date of this dividend is Friday, September 7th. FedEx’s dividend payout ratio is presently 16.98%.
Several research analysts have recently weighed in on FDX shares. Loop Capital decreased their price target on FedEx to $310.00 and set a “buy” rating for the company in a research note on Thursday, June 21st. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $282.00 price target for the company in a research note on Wednesday, May 30th. Morgan Stanley decreased their price target on FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 20th. UBS Group cut FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research report on Monday, July 16th. Finally, Credit Suisse Group upped their price objective on FedEx from $306.00 to $315.00 and gave the company an “outperform” rating in a research report on Wednesday, June 20th. One investment analyst has rated the stock with a sell rating, three have given a hold rating and eighteen have given a buy rating to the company. FedEx has an average rating of “Buy” and an average price target of $283.75.
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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