Delta Capital Management LLC decreased its stake in shares of FedEx Co. (NYSE:FDX) by 6.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 13,615 shares of the shipping service provider’s stock after selling 1,000 shares during the period. Delta Capital Management LLC’s holdings in FedEx were worth $1,982,000 at the end of the most recent quarter.
Other large investors also recently made changes to their positions in the company. Parnassus Investments CA lifted its holdings in FedEx by 2,614.2% during the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock worth $574,644,000 after acquiring an additional 3,370,929 shares during the period. BlackRock Inc. raised its stake in shares of FedEx by 9.5% in the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after buying an additional 1,395,988 shares during the period. Nuveen Asset Management LLC raised its stake in shares of FedEx by 11,911.3% in the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock valued at $183,645,000 after buying an additional 1,109,177 shares during the period. Nordea Investment Management AB raised its stake in shares of FedEx by 63.5% in the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after buying an additional 601,465 shares during the period. Finally, ANTIPODES PARTNERS Ltd bought a new stake in shares of FedEx in the second quarter valued at $84,956,000. 71.32% of the stock is currently owned by institutional investors.
In other news, EVP Robert B. Carter sold 23,100 shares of the business’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares of the company’s stock, valued at approximately $12,031,437.88. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director R Brad Martin bought 1,000 shares of the stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $145.00 per share, with a total value of $145,000.00. Following the purchase, the director now owns 49,046 shares in the company, valued at approximately $7,111,670. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by corporate insiders.
FedEx stock traded up $4.23 during midday trading on Friday, hitting $145.59. 2,254,802 shares of the company’s stock were exchanged, compared to its average volume of 3,954,249. FedEx Co. has a 52-week low of $137.78 and a 52-week high of $234.49. The stock has a 50-day moving average price of $153.78 and a two-hundred day moving average price of $167.03. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31. The company has a market cap of $36.11 billion, a P/E ratio of 9.38, a PEG ratio of 0.95 and a beta of 1.72.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a return on equity of 21.15% and a net margin of 0.65%. The business had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $17.05 billion. During the same quarter in the previous year, the firm earned $3.46 earnings per share. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. As a group, sell-side analysts expect that FedEx Co. will post 12.11 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Friday, September 6th. FedEx’s payout ratio is currently 16.75%.
FDX has been the topic of several research reports. DZ Bank restated a “sell” rating on shares of FedEx in a research note on Wednesday, September 18th. Berenberg Bank set a $155.00 price objective on FedEx and gave the company a “hold” rating in a research note on Friday. Morgan Stanley decreased their price objective on FedEx from $131.00 to $120.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 18th. ValuEngine upgraded FedEx from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Edward Jones lowered FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, September 18th. Three analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $171.64.
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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