Aptus Capital Advisors LLC grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 151.3% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 20,884 shares of the shipping service provider's stock after purchasing an additional 12,575 shares during the period. Aptus Capital Advisors LLC's holdings in FedEx were worth $6,033,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in FDX. Norges Bank bought a new stake in FedEx in the 4th quarter valued at $859,085,000. Vanguard Group Inc. boosted its holdings in shares of FedEx by 13.2% during the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider's stock worth $5,527,870,000 after buying an additional 2,741,723 shares during the period. Boston Partners bought a new stake in FedEx in the 3rd quarter valued at about $468,195,000. Dodge & Cox boosted its holdings in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider's stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the period. Finally, AQR Capital Management LLC lifted its holdings in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider's stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the period. 84.47% of the stock is owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently weighed in on FDX. Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They set a "buy" rating for the company. HSBC reduced their price objective on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research note on Monday, June 1st. JPMorgan Chase & Co. upgraded shares of FedEx from a "neutral" rating to an "overweight" rating and raised their price target for the stock from $432.00 to $460.00 in a report on Wednesday, May 27th. Sanford C. Bernstein raised their price objective on shares of FedEx from $457.00 to $470.00 and gave the company an "outperform" rating in a research note on Thursday, April 9th. Finally, Rothschild & Co Redburn dropped their price target on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. Eighteen equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus target price of $371.45.
Check Out Our Latest Analysis on FDX
FedEx Price Performance
FDX opened at $338.12 on Tuesday. The company has a market capitalization of $80.68 billion, a price-to-earnings ratio of 17.99, a PEG ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $371.37 and a 200-day moving average price of $343.63. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.37.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to analysts' expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx's revenue for the quarter was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $4.51 earnings per share. Equities analysts expect that FedEx Corporation will post 19.78 EPS for the current year.
FedEx Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx's payout ratio is presently 30.87%.
Insider Buying and Selling at FedEx
In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of the firm's stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares of the company's stock, valued at $4,017,070.44. This trade represents a 60.54% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Kawal Preet sold 4,900 shares of the business's stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company's stock.
FedEx Company Profile
(
Free Report)
FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
See Also
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