Auxier Asset Management boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 98.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,890 shares of the shipping service provider’s stock after buying an additional 5,390 shares during the period. Auxier Asset Management’s holdings in FedEx were worth $2,473,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Moneta Group Investment Advisors LLC boosted its stake in shares of FedEx by 14,866.7% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after purchasing an additional 446 shares in the last quarter. Vigilant Capital Management LLC acquired a new position in FedEx during the 2nd quarter worth about $114,000. Fortis Advisors LLC lifted its position in FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after buying an additional 370 shares in the last quarter. IMA Wealth Inc. acquired a new position in FedEx during the 2nd quarter worth about $136,000. Finally, Trust Department MB Financial Bank N A acquired a new position in FedEx during the 2nd quarter worth about $141,000. Hedge funds and other institutional investors own 72.54% of the company’s stock.
Shares of FDX stock opened at $253.17 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.39 and a quick ratio of 1.33. The stock has a market capitalization of $65.94 billion, a PE ratio of 16.54, a P/E/G ratio of 1.13 and a beta of 1.45. FedEx Co. has a one year low of $211.74 and a one year high of $274.66.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, beating analysts’ consensus estimates of $5.72 by $0.19. The company had revenue of $17.31 billion during the quarter, compared to analysts’ expectations of $17.24 billion. FedEx had a return on equity of 23.17% and a net margin of 6.99%. FedEx’s revenue was up 10.1% on a year-over-year basis. During the same period in the prior year, the business posted $4.25 EPS. sell-side analysts expect that FedEx Co. will post 17.31 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 1st. Stockholders of record on Monday, September 10th will be paid a $0.65 dividend. The ex-dividend date is Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
Several research analysts recently issued reports on the stock. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research report on Friday, September 7th. Credit Suisse Group boosted their price objective on FedEx from $306.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, June 20th. Loop Capital dropped their price objective on FedEx to $310.00 and set a “buy” rating for the company in a report on Thursday, June 21st. Oppenheimer boosted their price objective on FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a report on Thursday, June 14th. Finally, Morgan Stanley boosted their price objective on FedEx from $240.00 to $248.00 and gave the stock an “equal weight” rating in a report on Monday, June 4th. Three investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and a consensus price target of $287.70.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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