Ancora Advisors LLC Acquires New Position in FedEx Co. (FDX)
Ancora Advisors LLC acquired a new stake in shares of FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 760 shares of the shipping service provider’s stock, valued at approximately $183,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Dimensional Fund Advisors LP grew its stake in FedEx by 32.0% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,956,071 shares of the shipping service provider’s stock valued at $470,996,000 after acquiring an additional 474,354 shares in the last quarter. PNC Financial Services Group Inc. grew its stake in shares of FedEx by 209.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 419,755 shares of the shipping service provider’s stock valued at $95,309,000 after buying an additional 284,134 shares during the period. FMR LLC grew its stake in shares of FedEx by 4.5% in the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock valued at $1,040,600,000 after buying an additional 197,188 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of FedEx by 4.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,617,702 shares of the shipping service provider’s stock valued at $871,106,000 after buying an additional 170,410 shares during the period. Finally, BlackRock Inc. grew its stake in shares of FedEx by 0.9% in the 2nd quarter. BlackRock Inc. now owns 15,172,550 shares of the shipping service provider’s stock valued at $3,445,080,000 after buying an additional 134,397 shares during the period. 72.11% of the stock is owned by institutional investors.
Shares of FDX stock opened at $215.06 on Friday. The company has a current ratio of 1.32, a quick ratio of 1.26 and a debt-to-equity ratio of 0.79. FedEx Co. has a one year low of $207.90 and a one year high of $274.66. The company has a market capitalization of $56.79 billion, a PE ratio of 14.05, a P/E/G ratio of 0.97 and a beta of 1.35.
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be issued a $0.65 dividend. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.21%. FedEx’s dividend payout ratio is currently 16.98%.
In other news, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now directly owns 32,800 shares in the company, valued at approximately $7,949,080. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the firm’s stock in a transaction dated Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Corporate insiders own 8.45% of the company’s stock.
FDX has been the subject of several analyst reports. Wolfe Research set a $275.00 price target on shares of FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a research note on Monday. Loop Capital increased their price target on shares of FedEx to $318.00 and gave the company a “buy” rating in a research note on Tuesday, September 18th. Berenberg Bank initiated coverage on shares of FedEx in a research note on Friday, September 21st. They issued a “buy” rating and a $300.00 price target for the company. Finally, Robert W. Baird increased their price target on shares of FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price 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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