Jones Financial Companies Lllp increased its stake in FedEx Co. (NYSE:FDX) by 7.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 10,476 shares of the shipping service provider’s stock after buying an additional 700 shares during the quarter. Jones Financial Companies Lllp’s holdings in FedEx were worth $2,614,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Teachers Insurance & Annuity Association of America purchased a new stake in FedEx in the fourth quarter worth $574,000. HPM Partners LLC increased its stake in FedEx by 266.9% in the fourth quarter. HPM Partners LLC now owns 15,588 shares of the shipping service provider’s stock worth $3,890,000 after purchasing an additional 11,340 shares during the period. DekaBank Deutsche Girozentrale increased its stake in FedEx by 1.5% in the fourth quarter. DekaBank Deutsche Girozentrale now owns 40,661 shares of the shipping service provider’s stock worth $8,700,000 after purchasing an additional 600 shares during the period. Franklin Resources Inc. increased its stake in FedEx by 1.6% in the fourth quarter. Franklin Resources Inc. now owns 444,875 shares of the shipping service provider’s stock worth $111,014,000 after purchasing an additional 7,068 shares during the period. Finally, Brandywine Global Investment Management LLC increased its stake in FedEx by 3.3% in the fourth quarter. Brandywine Global Investment Management LLC now owns 36,930 shares of the shipping service provider’s stock worth $9,216,000 after purchasing an additional 1,194 shares during the period. Institutional investors own 74.65% of the company’s stock.
FedEx Co. (NYSE FDX) opened at $247.12 on Monday. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $274.66. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a market capitalization of $66,200.88, a PE ratio of 20.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.81%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio is presently 18.43%.
FDX has been the topic of a number of recent analyst reports. Loop Capital increased their target price on FedEx to $318.00 in a research note on Thursday, January 4th. Oppenheimer reiterated a “buy” rating and issued a $265.00 target price (up previously from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Citigroup reiterated a “buy” rating and issued a $280.00 target price on shares of FedEx in a research note on Wednesday, December 20th. Stephens set a $306.00 target price on FedEx and gave the stock a “buy” rating in a research note on Wednesday, December 20th. Finally, Bank of America increased their target price on FedEx from $247.00 to $293.00 and gave the stock a “buy” rating in a research note on Wednesday, December 20th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, twenty-three have assigned a buy rating and one has issued a strong buy rating to the company. FedEx currently has a consensus rating of “Buy” and an average target price of $275.04.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last three months, insiders sold 53,541 shares of company stock valued at $13,692,142. Corporate insiders own 8.45% of the company’s stock.
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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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