Farr Miller & Washington LLC DC Sells 593 Shares of FedEx Co. (FDX)
Farr Miller & Washington LLC DC reduced its position in shares of FedEx Co. (NYSE:FDX) by 0.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 158,401 shares of the shipping service provider’s stock after selling 593 shares during the quarter. FedEx comprises about 3.4% of Farr Miller & Washington LLC DC’s portfolio, making the stock its 7th biggest position. Farr Miller & Washington LLC DC owned approximately 0.06% of FedEx worth $35,732,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of FDX. BlackRock Inc. raised its stake in FedEx by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares during the period. Harbour Capital Advisors LLC raised its stake in shares of FedEx by 21,011.5% in the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after purchasing an additional 1,418,066 shares during the last quarter. Davis Selected Advisers raised its stake in shares of FedEx by 265.4% in the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after purchasing an additional 1,223,646 shares during the last quarter. Janus Henderson Group PLC raised its stake in shares of FedEx by 381.6% in the second quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after purchasing an additional 699,728 shares during the last quarter. Finally, Jackson Square Partners LLC raised its stake in shares of FedEx by 28.7% in the second quarter. Jackson Square Partners LLC now owns 2,905,839 shares of the shipping service provider’s stock worth $631,525,000 after purchasing an additional 647,401 shares during the last quarter. 75.73% of the stock is currently owned by institutional investors and hedge funds.
In other FedEx news, Director Kim Jabal sold 3,980 shares of the stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total transaction of $897,689.00. Following the completion of the transaction, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is owned by corporate insiders.
FDX has been the subject of several analyst reports. Wells Fargo & Company increased their price objective on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Citigroup increased their price objective on FedEx to $275.00 and gave the stock a “buy” rating in a research note on Tuesday. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 price objective (down from $242.00) on shares of FedEx in a research note on Friday, September 15th. Bank of America reissued a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx in a research note on Friday, October 6th. Finally, Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $233.41.
Shares of FedEx Co. (NYSE FDX) opened at $242.02 on Thursday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The company has a market capitalization of $64,221.38, a P/E ratio of 20.11, a P/E/G ratio of 1.51 and a beta of 1.36. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $243.48.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 earnings per share. research analysts anticipate that FedEx Co. will post 12.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is 18.87%.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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