Axa lifted its position in FedEx Co. (NYSE:FDX) by 11.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,418 shares of the shipping service provider’s stock after buying an additional 8,256 shares during the quarter. Axa’s holdings in FedEx were worth $19,818,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Bowen Hanes & Co. Inc. increased its position in shares of FedEx by 1.4% in the fourth quarter. Bowen Hanes & Co. Inc. now owns 149,066 shares of the shipping service provider’s stock worth $37,198,000 after purchasing an additional 2,030 shares during the last quarter. 180 Wealth Advisors LLC bought a new position in shares of FedEx in the fourth quarter worth approximately $920,000. Pittenger & Anderson Inc. increased its position in shares of FedEx by 1.3% in the fourth quarter. Pittenger & Anderson Inc. now owns 20,162 shares of the shipping service provider’s stock worth $5,031,000 after purchasing an additional 265 shares during the last quarter. WESCAP Management Group Inc. increased its position in shares of FedEx by 5.3% in the fourth quarter. WESCAP Management Group Inc. now owns 8,513 shares of the shipping service provider’s stock worth $2,124,000 after purchasing an additional 432 shares during the last quarter. Finally, Haverford Trust Co. increased its position in shares of FedEx by 32.5% in the fourth quarter. Haverford Trust Co. now owns 1,930 shares of the shipping service provider’s stock worth $482,000 after purchasing an additional 473 shares during the last quarter. 73.94% of the stock is currently owned by hedge funds and other institutional investors.
Several research firms recently weighed in on FDX. Citigroup upped their price objective on shares of FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Barclays restated an “overweight” rating and issued a $270.00 price objective (up from $230.00) on shares of FedEx in a research report on Thursday, November 30th. They noted that the move was a valuation call. Goldman Sachs Group began coverage on shares of FedEx in a research report on Monday, November 13th. They issued a “buy” rating and a $270.00 price objective on the stock. Stifel Nicolaus upped their price objective on shares of FedEx from $221.00 to $272.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Finally, Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-four have given a buy rating and one has given a strong buy rating to the company. FedEx presently has an average rating of “Buy” and an average target price of $275.04.
Shares of FedEx Co. (FDX) opened at $240.47 on Friday. The firm has a market capitalization of $64,420.00, a P/E ratio of 22.10, a PEG ratio of 1.42 and a beta of 1.32. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $274.66. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The firm had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.80 earnings per share. sell-side analysts forecast that FedEx Co. will post 13.45 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 18.38%.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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