Captrust Financial Advisors bought a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 8,876 shares of the shipping service provider’s stock, valued at approximately $2,219,000.
Other hedge funds also recently made changes to their positions in the company. Cerebellum GP LLC purchased a new position in FedEx during the fourth quarter worth about $125,000. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the third quarter worth about $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx during the third quarter worth about $136,000. Carroll Financial Associates Inc. lifted its position in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after purchasing an additional 240 shares in the last quarter. Finally, Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of FedEx during the fourth quarter worth about $144,000. 74.65% of the stock is owned by institutional investors.
Shares of FedEx Co. (NYSE:FDX) opened at $246.54 on Tuesday. The firm has a market cap of $66,050.00, a P/E ratio of 22.66, a P/E/G ratio of 1.44 and a beta of 1.32. FedEx Co. has a 1-year low of $182.89 and a 1-year 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 business also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Shareholders of record on Monday, March 12th will be issued a dividend of $0.50 per share. The ex-dividend date is Friday, March 9th. This represents a $2.00 dividend on an annualized basis and a yield of 0.81%. FedEx’s payout ratio is currently 18.38%.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction that occurred on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. In the last three months, insiders have sold 53,541 shares of company stock worth $13,692,142. 8.45% of the stock is owned by corporate insiders.
Several analysts have recently issued reports on FDX shares. Stephens set a $306.00 price target on shares of FedEx and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Goldman Sachs Group started coverage on shares of FedEx in a research report on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. Robert W. Baird reissued a “buy” rating and set a $280.00 price target on shares of FedEx in a research report on Tuesday, January 9th. Citigroup reissued a “buy” rating and set a $280.00 price target on shares of FedEx in a research report on Wednesday, December 20th. Finally, Zacks Investment Research raised 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-three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $275.04.
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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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