Sicart Associates LLC trimmed its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 5.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,318 shares of the shipping service provider's stock after selling 1,408 shares during the quarter. FedEx comprises about 2.2% of Sicart Associates LLC's investment portfolio, making the stock its 17th biggest holding. Sicart Associates LLC's holdings in FedEx were worth $6,452,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of FDX. Transce3nd LLC bought a new position in shares of FedEx during the fourth quarter valued at approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx in the 4th quarter worth approximately $28,000. Runnymede Capital Advisors Inc. bought a new position in FedEx during the 4th quarter valued at approximately $32,000. Accredited Wealth Management LLC purchased a new position in FedEx during the fourth quarter valued at $35,000. Finally, Optiver Holding B.V. bought a new stake in FedEx in the fourth quarter worth $39,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
FDX has been the subject of several analyst reports. Raymond James Financial restated an "outperform" rating and set a $260.00 price target (down from $275.00) on shares of FedEx in a report on Wednesday. Barclays restated an "overweight" rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a research note on Wednesday. Citigroup decreased their target price on shares of FedEx from $267.00 to $259.00 and set a "buy" rating for the company in a report on Wednesday. Oppenheimer reiterated a "market perform" rating on shares of FedEx in a report on Friday, March 21st. Finally, Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.00.
View Our Latest Analysis on FDX
FedEx Trading Up 3.8%
FedEx stock opened at $229.37 on Friday. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.84. The company has a market cap of $54.96 billion, a P/E ratio of 13.59, a P/E/G ratio of 1.22 and a beta of 1.35. The company has a quick ratio of 1.19, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The business has a 50-day simple moving average of $220.19 and a two-hundred day simple moving average of $242.69.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business posted $5.41 earnings per share. Analysts predict that FedEx Corporation will post 19.14 EPS for the current year.
FedEx Increases Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is 36.39%.
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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