Leavell Investment Management Inc. grew its stake in shares of FedEx Co. (NYSE:FDX) by 2.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,173 shares of the shipping service provider’s stock after acquiring an additional 175 shares during the quarter. Leavell Investment Management Inc.’s holdings in FedEx were worth $1,557,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of FDX. Selective Wealth Management Inc. bought a new position in shares of FedEx during the second quarter valued at $28,000. Hoover Financial Advisors Inc. bought a new position in shares of FedEx during the second quarter valued at $28,000. RMR Wealth Builders bought a new stake in FedEx in the 2nd quarter worth about $48,000. Tower Research Capital LLC TRC bought a new stake in FedEx in the 1st quarter worth about $49,000. Finally, Keebeck Wealth Management LLC purchased a new position in FedEx in the second quarter worth about $52,000. Hedge funds and other institutional investors own 71.65% of the company’s stock.
A number of analysts have issued reports on the company. Argus raised FedEx from a “hold” rating to a “buy” rating and set a $185.00 price objective on the stock in a research note on Monday, July 6th. Credit Suisse Group reaffirmed a “buy” rating and issued a $322.00 price objective on shares of FedEx in a research note on Wednesday, September 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $298.00 price objective (up previously from $265.00) on shares of FedEx in a research note on Wednesday, September 16th. Deutsche Bank Aktiengesellschaft raised FedEx from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $243.00 to $318.00 in a research note on Monday, September 28th. Finally, Sanford C. Bernstein raised FedEx from a “market perform” rating to an “outperform” rating and set a $225.00 price objective on the stock in a research note on Monday, August 10th. Eight analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $277.46.
In other FedEx news, VP John L. Merino sold 24,981 shares of the stock in a transaction that occurred on Friday, September 18th. The stock was sold at an average price of $246.16, for a total transaction of $6,149,322.96. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO John Alan Smith sold 808 shares of the stock in a transaction that occurred on Tuesday, September 22nd. The stock was sold at an average price of $237.88, for a total value of $192,207.04. Following the transaction, the chief executive officer now owns 10,401 shares in the company, valued at approximately $2,474,189.88. The disclosure for this sale can be found here. Insiders sold 100,255 shares of company stock worth $25,844,347 over the last three months. Corporate insiders own 8.49% of the company’s stock.
Shares of FDX stock opened at $267.02 on Friday. The stock’s 50-day simple moving average is $259.21 and its 200-day simple moving average is $180.50. The company has a debt-to-equity ratio of 1.19, a quick ratio of 1.64 and a current ratio of 1.69. The firm has a market capitalization of $70.12 billion, a PE ratio of 39.44, a P/E/G ratio of 1.51 and a beta of 1.39. FedEx Co. has a fifty-two week low of $88.69 and a fifty-two week high of $293.30.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share for the quarter, beating analysts’ consensus estimates of $2.69 by $2.18. The business had revenue of $19.32 billion for the quarter, compared to analyst estimates of $17.56 billion. FedEx had a return on equity of 15.82% and a net margin of 2.50%. The company’s revenue was up 13.3% on a year-over-year basis. During the same period in the prior year, the company earned $3.05 earnings per share. Sell-side analysts forecast that FedEx Co. will post 15.59 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Friday, September 4th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.97%. The ex-dividend date was Thursday, September 3rd. FedEx’s dividend payout ratio is presently 27.37%.
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.
Featured Story: Market Perform
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.