Bridges Investment Management Inc. grew its position in shares of FedEx Co. (NYSE:FDX) by 3.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 87,996 shares of the shipping service provider’s stock after buying an additional 3,223 shares during the period. Bridges Investment Management Inc.’s holdings in FedEx were worth $19,980,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. HPM Partners LLC increased its position in shares of FedEx by 4.4% in the second quarter. HPM Partners LLC now owns 12,962 shares of the shipping service provider’s stock worth $2,943,000 after purchasing an additional 549 shares during the period. Cozad Asset Management Inc. bought a new position in shares of FedEx in the second quarter worth $4,008,000. Forsta AP Fonden increased its position in shares of FedEx by 40.5% in the second quarter. Forsta AP Fonden now owns 108,900 shares of the shipping service provider’s stock worth $24,727,000 after purchasing an additional 31,400 shares during the period. Moneta Group Investment Advisors LLC increased its position in shares of FedEx by 14,117.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after purchasing an additional 63,386 shares during the period. Finally, Worldquant Millennium Quantitative Strategies LLC bought a new position in shares of FedEx in the second quarter worth $17,150,000. Hedge funds and other institutional investors own 72.54% of the company’s stock.
FDX has been the topic of several research analyst reports. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Loop Capital reduced their price objective on FedEx to $310.00 and set a “buy” rating on the stock in a research note on Thursday, June 21st. UBS Group lowered FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective on the stock. in a research note on Monday, July 16th. Morgan Stanley raised their price objective on FedEx from $240.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday, June 4th. Finally, Oppenheimer raised their price objective on FedEx from $282.00 to $288.00 and gave the company an “outperform” rating in a research note on Thursday, June 14th. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $287.70.
Shares of FDX stock opened at $253.17 on Friday. FedEx Co. has a 12 month low of $211.74 and a 12 month high of $274.66. The stock has a market cap of $65.94 billion, a PE ratio of 16.54, a PEG ratio of 1.13 and a beta of 1.45. The company has a current ratio of 1.39, a quick ratio of 1.33 and a debt-to-equity ratio of 0.79.
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 the Zacks’ consensus estimate of $5.72 by $0.19. FedEx had a return on equity of 23.17% and a net margin of 6.99%. The firm had revenue of $17.31 billion for the quarter, compared to analyst estimates of $17.24 billion. During the same period last year, the firm posted $4.25 earnings per share. The business’s revenue for the quarter was up 10.1% on a year-over-year basis. equities analysts predict that FedEx Co. will post 17.31 EPS for the current year.
The company 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 dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, September 7th. FedEx’s payout ratio is 16.98%.
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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