Chesley Taft & Associates LLC boosted its position in FedEx Co. (NYSE:FDX) by 5.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 60,188 shares of the shipping service provider’s stock after purchasing an additional 3,210 shares during the quarter. FedEx makes up 1.2% of Chesley Taft & Associates LLC’s portfolio, making the stock its 26th biggest position. Chesley Taft & Associates LLC’s holdings in FedEx were worth $14,493,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Vigilant Capital Management LLC bought a new position in shares of FedEx during the second quarter valued at $114,000. Moneta Group Investment Advisors LLC increased its holdings in shares of FedEx by 14,117.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after acquiring an additional 63,386 shares in the last quarter. Fortis Advisors LLC increased its holdings in shares of FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares in the last quarter. Lenox Wealth Advisors LLC bought a new position in shares of FedEx during the third quarter valued at $120,000. Finally, Qube Research & Technologies Ltd bought a new position in shares of FedEx during the second quarter valued at $129,000. Institutional investors and hedge funds own 72.77% of the company’s stock.
In related news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares in the company, valued at approximately $7,949,080. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.50% of the stock is currently owned by company insiders.
Several brokerages have recently weighed in on FDX. JPMorgan Chase & Co. set a $286.00 price target on FedEx and gave the company a “buy” rating in a report on Friday. Morgan Stanley reduced their price target on FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a report on Wednesday, June 20th. Credit Suisse Group raised their price target on FedEx from $306.00 to $315.00 and gave the company an “outperform” rating in a report on Wednesday, June 20th. Berenberg Bank began coverage on FedEx in a report on Friday, September 21st. They set a “buy” rating and a $300.00 price target for the company. Finally, Oppenheimer raised their price target on FedEx from $282.00 to $288.00 and gave the company an “outperform” rating in a report on Thursday, June 14th. Three research analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and a consensus target price of $285.27.
NYSE FDX traded up $4.33 during trading hours on Friday, hitting $221.75. The company’s stock had a trading volume of 149,496 shares, compared to its average volume of 1,712,296. FedEx Co. has a 12 month low of $214.17 and a 12 month high of $274.66. The company has a market capitalization of $63.45 billion, a price-to-earnings ratio of 14.55, a PEG ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32.
FedEx (NYSE:FDX) last released its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The business had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $16.88 billion. During the same quarter in the previous year, the business posted $2.65 earnings per share. FedEx’s quarterly revenue was up 11.5% compared to the same quarter last year. On average, equities analysts predict that FedEx Co. will post 17.36 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, September 7th. This represents a $2.60 annualized dividend and a yield of 1.17%. FedEx’s payout ratio is 16.98%.
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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