Fluent Financial LLC trimmed its position in shares of FedEx Co. (NYSE:FDX) by 35.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,390 shares of the shipping service provider’s stock after selling 2,368 shares during the quarter. Fluent Financial LLC’s holdings in FedEx were worth $664,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also recently made changes to their positions in the company. Simon Quick Advisors LLC lifted its stake in shares of FedEx by 1,600.0% in the fourth quarter. Simon Quick Advisors LLC now owns 170 shares of the shipping service provider’s stock worth $26,000 after buying an additional 160 shares during the last quarter. CX Institutional bought a new stake in FedEx during the third quarter valued at about $29,000. Accurate Investment Solutions Inc. grew its position in shares of FedEx by 125.0% in the third quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 125 shares during the last quarter. Venturi Wealth Management LLC acquired a new stake in shares of FedEx in the third quarter valued at about $33,000. Finally, First PREMIER Bank bought a new position in shares of FedEx in the third quarter worth about $36,000. Institutional investors and hedge funds own 70.48% of the company’s stock.
Several equities analysts recently weighed in on FDX shares. Morgan Stanley cut their price objective on FedEx from $111.00 to $109.00 and set an “equal weight” rating for the company in a research report on Wednesday, December 18th. Credit Suisse Group set a $170.00 price target on FedEx and gave the stock a “buy” rating in a research report on Tuesday, December 24th. BMO Capital Markets dropped their price target on FedEx from $165.00 to $160.00 and set a “market perform” rating on the stock in a research report on Wednesday, December 18th. Standpoint Research upgraded FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Finally, Oppenheimer cut FedEx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $169.88.
In related news, Director John A. Edwardson acquired 10,000 shares of the business’s stock in a transaction on Friday, December 20th. The stock was bought at an average cost of $148.22 per share, with a total value of $1,482,200.00. Following the completion of the acquisition, the director now owns 77,966 shares in the company, valued at $11,556,120.52. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director John A. Edwardson acquired 5,000 shares of the business’s stock in a transaction on Thursday, October 31st. The shares were bought at an average cost of $151.75 per share, with a total value of $758,750.00. Following the completion of the acquisition, the director now owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by company insiders.
FDX traded up $1.04 during trading on Friday, reaching $160.58. 51,596 shares of the company’s stock were exchanged, compared to its average volume of 2,709,988. FedEx Co. has a fifty-two week low of $137.78 and a fifty-two week high of $199.32. The company has a quick ratio of 1.20, a current ratio of 1.25 and a debt-to-equity ratio of 1.67. The business has a 50 day moving average price of $155.86 and a 200 day moving average price of $157.60. The company has a market capitalization of $42.34 billion, a P/E ratio of 10.33, a PEG ratio of 1.25 and a beta of 1.68.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $2.78 by ($0.27). FedEx had a return on equity of 19.10% and a net margin of 0.11%. The business had revenue of $17.32 billion for the quarter, compared to analyst estimates of $17.69 billion. During the same quarter in the prior year, the firm earned $4.03 EPS. The firm’s quarterly revenue was down 2.8% on a year-over-year basis. As a group, research analysts forecast that FedEx Co. will post 10.84 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 9th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, December 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.62%. FedEx’s payout ratio is presently 16.75%.
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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