FedEx Co. (NYSE:FDX) Stake Lifted by Raymond James Trust N.A.


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Raymond James Trust N.A. raised its holdings in shares of FedEx Co. (NYSE:FDX) by 5.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 8,439 shares of the shipping service provider’s stock after buying an additional 449 shares during the period. Raymond James Trust N.A.’s holdings in FedEx were worth $2,191,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of the stock. State Street Corp grew its stake in shares of FedEx by 1.3% in the 3rd quarter. State Street Corp now owns 10,219,307 shares of the shipping service provider’s stock valued at $2,576,892,000 after purchasing an additional 129,780 shares during the period. FMR LLC grew its position in shares of FedEx by 16.8% during the 2nd quarter. FMR LLC now owns 4,945,173 shares of the shipping service provider’s stock valued at $693,412,000 after acquiring an additional 711,755 shares during the period. Morgan Stanley grew its position in shares of FedEx by 4.7% during the 3rd quarter. Morgan Stanley now owns 1,557,414 shares of the shipping service provider’s stock valued at $391,723,000 after acquiring an additional 69,663 shares during the period. UBS Asset Management Americas Inc. lifted its stake in FedEx by 9.6% in the 3rd quarter. UBS Asset Management Americas Inc. now owns 958,101 shares of the shipping service provider’s stock worth $240,982,000 after purchasing an additional 84,124 shares in the last quarter. Finally, Nuveen Asset Management LLC lifted its stake in FedEx by 2.4% in the 2nd quarter. Nuveen Asset Management LLC now owns 949,561 shares of the shipping service provider’s stock worth $133,147,000 after purchasing an additional 22,663 shares in the last quarter. Hedge funds and other institutional investors own 68.36% of the company’s stock.

Shares of NYSE FDX opened at $252.22 on Thursday. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $305.66. The stock has a market cap of $66.86 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 1.33 and a beta of 1.34. The firm has a 50-day moving average of $274.18 and a 200 day moving average of $237.45. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.76 and a quick ratio of 1.71.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.82. FedEx had a net margin of 3.28% and a return on equity of 18.65%. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $19.45 billion. During the same period last year, the company posted $2.51 EPS. FedEx’s revenue was up 18.7% on a year-over-year basis. Research analysts expect that FedEx Co. will post 17.02 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Monday, December 28th. Investors of record on Monday, December 14th were given a dividend of $0.65 per share. The ex-dividend date was Friday, December 11th. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. FedEx’s dividend payout ratio (DPR) is currently 27.37%.

A number of equities analysts have recently commented on the stock. Cowen increased their price target on shares of FedEx from $290.00 to $328.00 and gave the stock an “outperform” rating in a report on Wednesday, December 16th. Argus increased their target price on shares of FedEx from $270.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, December 30th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on shares of FedEx from $300.00 to $365.00 in a report on Thursday, December 3rd. Smith Barney Citigroup raised their price target on shares of FedEx from $300.00 to $365.00 in a report on Thursday, December 3rd. Finally, Deutsche Bank Aktiengesellschaft raised shares of FedEx from a “hold” rating to a “buy” rating and raised their price target for the stock from $243.00 to $318.00 in a report on Monday, September 28th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and a consensus target price of $312.00.

In other FedEx news, Director Joshua Cooper Ramo sold 13,461 shares of FedEx stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $262.70, for a total value of $3,536,204.70. Following the completion of the transaction, the director now directly owns 8,353 shares of the company’s stock, valued at $2,194,333.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Henry J. Maier sold 7,322 shares of FedEx stock in a transaction dated Friday, October 16th. The stock was sold at an average price of $283.22, for a total transaction of $2,073,736.84. Following the completion of the transaction, the chief executive officer now directly owns 47,989 shares of the company’s stock, valued at $13,591,444.58. The disclosure for this sale can be found here. Over the last three months, insiders have sold 42,643 shares of company stock valued at $11,567,579. 8.49% of the stock is currently owned by corporate insiders.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers 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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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