Concentric Capital Strategies LP purchased a new stake in FedEx Co. (NYSE:FDX - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 5,758 shares of the shipping service provider's stock, valued at approximately $1,620,000.
A number of other institutional investors also recently modified their holdings of FDX. Fortitude Family Office LLC boosted its position in FedEx by 144.4% during the 4th quarter. Fortitude Family Office LLC now owns 88 shares of the shipping service provider's stock worth $25,000 after acquiring an additional 52 shares during the last quarter. Transce3nd LLC bought a new stake in shares of FedEx in the fourth quarter worth $26,000. Peoples Financial Services CORP. acquired a new position in FedEx during the fourth quarter worth $28,000. City Holding Co. bought a new position in FedEx in the fourth quarter valued at $28,000. Finally, Kentucky Trust Co acquired a new stake in FedEx in the 4th quarter valued at $28,000. 84.47% of the stock is currently owned by institutional investors.
FedEx Trading Up 0.9 %
FDX stock opened at $215.43 on Thursday. FedEx Co. has a 52 week low of $194.30 and a 52 week high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. The company's 50-day simple moving average is $226.09 and its 200 day simple moving average is $258.79. The company has a market capitalization of $51.62 billion, a PE ratio of 13.73, a price-to-earnings-growth ratio of 1.11 and a beta of 1.36.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business's revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $3.86 EPS. As a group, sell-side analysts anticipate that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Monday, March 10th were issued a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend was Monday, March 10th. FedEx's dividend payout ratio (DPR) is currently 34.63%.
Wall Street Analysts Forecast Growth
Several equities analysts have recently weighed in on FDX shares. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and decreased their price objective for the company from $300.00 to $275.00 in a report on Monday, March 24th. Oppenheimer reaffirmed a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and dropped their price objective for the stock from $283.00 to $221.00 in a research note on Friday, March 21st. Cfra Research upgraded shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Finally, Raymond James cut their price target on shares of FedEx from $320.00 to $290.00 and set an "outperform" rating for the company in a research note on Friday, March 21st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $297.71.
Check Out Our Latest Report on FDX
Insider Buying and Selling
In other FedEx news, COO John Alan Smith sold 6,155 shares of the stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the sale, the chief operating officer now directly owns 23,347 shares in the company, valued at $5,686,161.85. This represents a 20.86 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 8.87% of the stock is owned by company insiders.
FedEx Profile
(
Free Report)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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