CapWealth Advisors LLC Sells 1,105 Shares of FedEx Co. (FDX)
CapWealth Advisors LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 19.5% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 4,549 shares of the shipping service provider’s stock after selling 1,105 shares during the period. CapWealth Advisors LLC’s holdings in FedEx were worth $1,095,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its stake in shares of FedEx by 2.2% during the 3rd quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock valued at $132,752,000 after buying an additional 11,798 shares during the last quarter. North Star Asset Management Inc. grew its position in shares of FedEx by 4.0% during the 3rd quarter. North Star Asset Management Inc. now owns 38,811 shares of the shipping service provider’s stock valued at $9,345,000 after acquiring an additional 1,510 shares during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of FedEx by 3.9% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 60,766 shares of the shipping service provider’s stock valued at $13,800,000 after acquiring an additional 2,253 shares during the period. Pensionfund Sabic acquired a new stake in shares of FedEx during the 3rd quarter valued at about $2,263,000. Finally, Bruderman Asset Management LLC grew its position in shares of FedEx by 654.8% during the 2nd quarter. Bruderman Asset Management LLC now owns 15,405 shares of the shipping service provider’s stock valued at $3,498,000 after acquiring an additional 13,364 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.
FDX stock opened at $215.52 on Thursday. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 12-month low of $207.90 and a 12-month high of $274.66. The stock has a market capitalization of $56.79 billion, a P/E ratio of 14.08, a PEG ratio of 0.97 and a beta of 1.35.
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be issued a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.21%. The ex-dividend date of this dividend is Friday, December 7th. FedEx’s payout ratio is 16.98%.
In other news, Director Susan Patricia Griffith acquired 1,000 shares of the stock in a transaction that occurred on Wednesday, October 17th. The shares were bought at an average cost of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares in the company, valued at $7,949,080. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.
A number of equities research analysts have recently commented on FDX shares. Morgan Stanley restated a “hold” rating and set a $242.00 target price (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Berenberg Bank started coverage on FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 target price on the stock. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. JPMorgan Chase & Co. restated a “buy” rating and set a $305.00 target price on shares of FedEx in a research report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 target price on FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Three analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock currently has a consensus 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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