Rossby Financial LCC bought a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,333 shares of the shipping service provider's stock, valued at approximately $325,000.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Vanguard Group Inc. boosted its position in shares of FedEx by 0.3% in the 4th quarter. Vanguard Group Inc. now owns 20,199,506 shares of the shipping service provider's stock worth $5,682,727,000 after purchasing an additional 56,236 shares in the last quarter. Dodge & Cox increased its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. Geode Capital Management LLC increased 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 acquiring an additional 109,006 shares in the last quarter. Franklin Resources Inc. increased its holdings 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. Finally, Invesco Ltd. boosted its holdings in shares of FedEx by 4.1% during the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after acquiring an additional 127,044 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Trading Up 0.7%
NYSE:FDX traded up $1.74 during mid-day trading on Friday, hitting $240.88. 2,410,389 shares of the stock traded hands, compared to its average volume of 1,851,340. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The stock has a market capitalization of $57.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.26 and a beta of 1.35. The firm's 50 day moving average is $222.83 and its two-hundred day moving average is $241.18.
FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $5.41 EPS. On average, equities research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.
FedEx Increases Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.41%. FedEx's dividend payout ratio is presently 34.36%.
Wall Street Analyst Weigh In
FDX has been the subject of several research reports. Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Wall Street Zen lowered shares of FedEx from a "buy" rating to a "hold" rating in a research note on Friday, May 30th. Stifel Nicolaus set a $315.00 target price on shares of FedEx in a research note on Wednesday, June 25th. Susquehanna boosted their target price on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research note on Wednesday, June 25th. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and a consensus target price of $282.46.
Check Out Our Latest Stock Analysis on FedEx
FedEx Company 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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