Sheaff Brock Investment Advisors LLC boosted its position in FedEx Co. (NYSE:FDX – Get Rating) by 2.6% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,205 shares of the shipping service provider’s stock after buying an additional 55 shares during the period. Sheaff Brock Investment Advisors LLC’s holdings in FedEx were worth $510,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Dixon Hughes Goodman Wealth Advisors LLC purchased a new stake in shares of FedEx in the 4th quarter valued at $26,000. Holloway Wealth Management LLC purchased a new stake in FedEx in the first quarter valued at $29,000. Sumitomo Mitsui Financial Group Inc. acquired a new stake in FedEx during the 4th quarter worth about $33,000. Byrne Asset Management LLC acquired a new stake in FedEx during the 4th quarter worth about $36,000. Finally, JNBA Financial Advisors raised its stake in shares of FedEx by 44.8% during the 4th quarter. JNBA Financial Advisors now owns 152 shares of the shipping service provider’s stock valued at $39,000 after buying an additional 47 shares during the last quarter. Institutional investors and hedge funds own 79.92% of the company’s stock.
Analyst Ratings Changes
Several analysts recently commented on the company. JPMorgan Chase & Co. set a $284.00 target price on FedEx in a report on Thursday, June 30th. KeyCorp raised their price objective on shares of FedEx from $300.00 to $325.00 and gave the stock an “overweight” rating in a research note on Thursday, June 30th. Berenberg Bank cut shares of FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $333.00 to $275.00 in a research note on Friday, July 1st. Credit Suisse Group set a $314.00 price target on shares of FedEx in a research report on Thursday, July 7th. Finally, Stephens upped their price objective on shares of FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a research report on Friday, June 24th. Four analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $297.50.
FedEx Trading Up 1.2 %
FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share for the quarter, missing the consensus estimate of $6.91 by ($0.04). FedEx had a return on equity of 22.29% and a net margin of 4.09%. The business had revenue of $24.39 billion during the quarter, compared to analysts’ expectations of $24.28 billion. During the same period in the prior year, the business posted $5.01 earnings per share. Research analysts expect that FedEx Co. will post 23.16 earnings per share for the current fiscal year.
FedEx Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, July 11th. Stockholders of record on Monday, June 27th were given a $1.15 dividend. The ex-dividend date was Friday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 dividend on an annualized basis and a dividend yield of 1.95%. FedEx’s dividend payout ratio is 32.17%.
Insider Buying and Selling
In related news, Director Vincenzo J. Vena bought 900 shares of the company’s stock in a transaction on Wednesday, July 6th. The stock was bought at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now directly owns 1,325 shares in the company, valued at $304,803. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Vincenzo J. Vena bought 900 shares of the firm’s stock in a transaction on Wednesday, July 6th. The shares were bought at an average cost of $230.04 per share, for a total transaction of $207,036.00. Following the acquisition, the director now directly owns 1,325 shares of the company’s stock, valued at approximately $304,803. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Michael C. Lenz sold 7,335 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The stock was sold at an average price of $230.72, for a total transaction of $1,692,331.20. Following the sale, the executive vice president now owns 18,251 shares of the company’s stock, valued at approximately $4,210,870.72. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 31,955 shares of company stock worth $7,296,828. 8.16% of the stock is owned by corporate insiders.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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