FedEx Co. (FDX) Holdings Raised by Cascade Investment Advisors Inc.
Cascade Investment Advisors Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 4.4% in the 1st quarter, HoldingsChannel reports. The fund owned 7,050 shares of the shipping service provider’s stock after purchasing an additional 295 shares during the quarter. FedEx accounts for 1.1% of Cascade Investment Advisors Inc.’s portfolio, making the stock its 27th biggest position. Cascade Investment Advisors Inc.’s holdings in FedEx were worth $1,279,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in the business. Lederer & Associates Investment Counsel CA increased its holdings in shares of FedEx by 3.2% in the first quarter. Lederer & Associates Investment Counsel CA now owns 8,667 shares of the shipping service provider’s stock worth $1,572,000 after acquiring an additional 265 shares in the last quarter. Lodestar Investment Counsel LLC IL increased its holdings in shares of FedEx by 5.4% in the first quarter. Lodestar Investment Counsel LLC IL now owns 27,990 shares of the shipping service provider’s stock worth $5,078,000 after acquiring an additional 1,430 shares in the last quarter. CAPROCK Group Inc. increased its holdings in shares of FedEx by 3.4% in the first quarter. CAPROCK Group Inc. now owns 7,914 shares of the shipping service provider’s stock worth $1,441,000 after acquiring an additional 258 shares in the last quarter. Bristol John W & Co. Inc. NY increased its holdings in shares of FedEx by 19.6% in the first quarter. Bristol John W & Co. Inc. NY now owns 362,302 shares of the shipping service provider’s stock worth $65,725,000 after acquiring an additional 59,315 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV bought a new stake in shares of FedEx in the first quarter worth about $587,000. Institutional investors own 71.73% of the company’s stock.
In other news, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now owns 30,185 shares in the company, valued at approximately $5,500,914.40. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the transaction, the chief executive officer now owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 187,950 shares of company stock worth $35,170,622. Corporate insiders own 8.50% of the company’s stock.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The firm had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a return on equity of 22.67% and a net margin of 5.25%. FedEx’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter last year, the business posted $3.72 EPS. Equities research analysts predict that FedEx Co. will post 15.48 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.32%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
Several equities research analysts have issued reports on FDX shares. JPMorgan Chase & Co. restated a “buy” rating and issued a $256.00 price target on shares of FedEx in a report on Tuesday, December 18th. Berenberg Bank reaffirmed a “buy” rating and set a $245.00 price objective on shares of FedEx in a research report on Monday, January 7th. Robert W. Baird reduced their price objective on FedEx from $225.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, December 19th. ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a research report on Wednesday, December 26th. Finally, UBS Group reduced their price objective on FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research report on Thursday, January 10th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $214.19.
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FedEx Company Profile
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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