IFM Investors Pty Ltd lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 4.7% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 25,751 shares of the shipping service provider’s stock after selling 1,258 shares during the period. IFM Investors Pty Ltd’s holdings in FedEx were worth $3,894,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FDX. BlackRock Inc. boosted its holdings in FedEx by 9.5% in the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock valued at $2,654,161,000 after acquiring an additional 1,395,988 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of FedEx by 11,911.3% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock valued at $183,645,000 after purchasing an additional 1,109,177 shares during the last quarter. Parnassus Investments CA boosted its stake in shares of FedEx by 17.1% in the 3rd quarter. Parnassus Investments CA now owns 4,099,219 shares of the shipping service provider’s stock valued at $596,723,000 after purchasing an additional 599,344 shares during the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in shares of FedEx in the 2nd quarter valued at $84,956,000. Finally, Millennium Management LLC increased its position in shares of FedEx by 2,287.7% during the third quarter. Millennium Management LLC now owns 531,046 shares of the shipping service provider’s stock worth $77,304,000 after buying an additional 508,805 shares during the period. 70.48% of the stock is owned by hedge funds and other institutional investors.
FDX stock opened at $162.13 on Wednesday. The stock’s 50 day simple moving average is $155.94 and its 200 day simple moving average is $157.64. FedEx Co. has a fifty-two week low of $137.78 and a fifty-two week high of $199.32. The company has a debt-to-equity ratio of 1.67, a quick ratio of 1.20 and a current ratio of 1.25. The company has a market cap of $41.85 billion, a P/E ratio of 10.45, a price-to-earnings-growth ratio of 1.20 and a beta of 1.68.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 17th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $2.78 by ($0.27). FedEx had a net margin of 0.11% and a return on equity of 19.10%. The firm had revenue of $17.32 billion during the quarter, compared to analyst estimates of $17.69 billion. During the same period last year, the business posted $4.03 EPS. The company’s revenue was down 2.8% on a year-over-year basis. Equities analysts predict that FedEx Co. will post 10.84 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Shareholders of record on Monday, December 9th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, December 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.60%. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
In other FedEx news, Director John A. Edwardson acquired 10,000 shares of the company’s stock in a transaction on Friday, December 20th. The shares were purchased at an average cost of $148.22 per share, with a total value of $1,482,200.00. Following the completion of the purchase, the director now owns 77,966 shares of the company’s stock, valued at $11,556,120.52. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson acquired 5,000 shares of the company’s stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $151.75 per share, for a total transaction of $758,750.00. Following the completion of the purchase, the director now directly owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The disclosure for this purchase can be found here. Insiders own 8.44% of the company’s stock.
Several equities analysts recently issued reports on FDX shares. Wolfe Research set a $184.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, September 18th. KeyCorp reiterated a “hold” rating on shares of FedEx in a report on Wednesday, December 18th. Robert W. Baird decreased their price target on FedEx from $180.00 to $175.00 and set an “outperform” rating for the company in a report on Wednesday, September 18th. Credit Suisse Group set a $170.00 price objective on FedEx and gave the stock a “buy” rating in a research report on Tuesday, December 24th. Finally, Oppenheimer downgraded FedEx from an “outperform” rating to a “market perform” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $169.88.
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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