J.W. Cole Advisors Inc. increased its stake in FedEx Corporation (NYSE:FDX - Free Report) by 250.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,275 shares of the shipping service provider's stock after acquiring an additional 3,770 shares during the period. J.W. Cole Advisors Inc.'s holdings in FedEx were worth $1,286,000 as of its most recent SEC filing.
Other large investors have also added to or reduced their stakes in the company. Dodge & Cox grew its stake in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of FedEx by 2.3% during the fourth quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after buying an additional 109,006 shares during the last quarter. Franklin Resources Inc. increased its position in shares of FedEx by 8.1% during the fourth quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares in the last quarter. Invesco Ltd. raised its holdings in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock worth $906,165,000 after acquiring an additional 127,044 shares during the last quarter. Finally, Norges Bank bought a new position in FedEx in the 4th quarter valued at approximately $807,352,000. Institutional investors own 84.47% of the company's stock.
Insider Buying and Selling at FedEx
In related news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director directly owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares of the company's stock, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 9,343 shares of company stock worth $2,228,816. Insiders own 8.87% of the company's stock.
Wall Street Analysts Forecast Growth
A number of equities analysts recently commented on the company. BMO Capital Markets decreased their target price on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Susquehanna lifted their price objective on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Cowen restated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Finally, Barclays restated an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of "Moderate Buy" and a consensus target price of $283.25.
Get Our Latest Stock Analysis on FDX
FedEx Price Performance
Shares of FDX traded down $1.15 during mid-day trading on Thursday, reaching $236.75. 2,079,702 shares of the company's stock were exchanged, compared to its average volume of 2,129,385. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a 50-day simple moving average of $226.74 and a two-hundred day simple moving average of $237.29. The company has a market cap of $55.85 billion, a price-to-earnings ratio of 14.03, a PEG ratio of 1.24 and a beta of 1.35.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the previous year, the firm posted $5.41 earnings per share. On average, sell-side analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.
FedEx Increases Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a dividend of $1.45 per share. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.45%. FedEx's dividend payout ratio is presently 34.36%.
FedEx Company Profile
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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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