First Republic Investment Management Inc. decreased its position in shares of FedEx Co. (NYSE:FDX) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 88,456 shares of the shipping service provider’s stock after selling 1,038 shares during the quarter. First Republic Investment Management Inc.’s holdings in FedEx were worth $21,300,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Parkside Financial Bank & Trust grew its stake in FedEx by 10.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,422 shares of the shipping service provider’s stock valued at $583,000 after acquiring an additional 233 shares during the period. Nwam LLC grew its stake in FedEx by 13.4% in the 3rd quarter. Nwam LLC now owns 2,012 shares of the shipping service provider’s stock valued at $484,000 after acquiring an additional 237 shares during the period. KCS Wealth Advisory grew its stake in FedEx by 4.6% in the 3rd quarter. KCS Wealth Advisory now owns 5,490 shares of the shipping service provider’s stock valued at $1,322,000 after acquiring an additional 239 shares during the period. State of Alaska Department of Revenue grew its stake in FedEx by 0.6% in the 3rd quarter. State of Alaska Department of Revenue now owns 42,827 shares of the shipping service provider’s stock valued at $10,311,000 after acquiring an additional 242 shares during the period. Finally, Vantage Financial Partners Ltd. Inc. grew its stake in FedEx by 5.2% in the 3rd quarter. Vantage Financial Partners Ltd. Inc. now owns 5,050 shares of the shipping service provider’s stock valued at $1,216,000 after acquiring an additional 250 shares during the period. 72.11% of the stock is currently owned by institutional investors and hedge funds.
In related news, Director Susan Patricia Griffith purchased 1,000 shares of FedEx stock in a transaction dated Wednesday, October 17th. The shares were acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now owns 32,800 shares in the company, valued at approximately $7,949,080. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.
NYSE FDX opened at $201.39 on Friday. FedEx Co. has a 52 week low of $200.12 and a 52 week high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. The firm has a market cap of $56.67 billion, a PE ratio of 13.22, a P/E/G ratio of 0.97 and a beta of 1.35.
FedEx (NYSE:FDX) last posted its quarterly earnings results 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 company had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.88 billion. During the same quarter in the prior year, the firm earned $2.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. Sell-side analysts expect that FedEx Co. will post 17.37 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.29%. FedEx’s dividend payout ratio is presently 16.98%.
Several brokerages have issued reports on FDX. Morgan Stanley reaffirmed a “hold” rating and set a $242.00 target price (down previously from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. Credit Suisse Group set a $307.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 21st. Finally, Berenberg Bank began coverage on shares of FedEx in a research note on Friday, September 21st. They set a “buy” rating and a $300.00 target price on the stock. Three equities research analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $285.85.
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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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