FedEx Co. (FDX) Holdings Raised by Norinchukin Bank The
Norinchukin Bank The boosted its holdings in shares of FedEx Co. (NYSE:FDX) by 3.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 30,896 shares of the shipping service provider’s stock after acquiring an additional 1,169 shares during the quarter. Norinchukin Bank The’s holdings in FedEx were worth $6,970,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. FNY Managed Accounts LLC acquired a new stake in FedEx during the first quarter worth $100,000. Salem Investment Counselors Inc. increased its stake in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC increased its stake in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the last quarter. Alexandria Capital LLC increased its stake in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new stake in FedEx during the third quarter worth $132,000. 75.74% of the stock is owned by institutional investors.
FDX has been the subject of several recent analyst reports. Citigroup reissued a “buy” rating and set a $235.00 target price on shares of FedEx in a research note on Thursday, September 14th. Robert W. Baird restated a “buy” rating and set a $235.00 price target on shares of FedEx in a research report on Tuesday, September 12th. Cowen restated a “buy” rating and set a $240.00 price target on shares of FedEx in a research report on Tuesday, September 12th. BMO Capital Markets restated a “buy” rating and set a $245.00 price target on shares of FedEx in a research report on Wednesday, September 6th. Finally, Loop Capital restated a “buy” rating and set a $260.00 price target (up from $250.00) on shares of FedEx in a research report on Wednesday, September 20th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $231.81.
FedEx Co. (FDX) opened at $240.73 on Friday. The stock has a market capitalization of $64,551.27, a price-to-earnings ratio of 20.21, a P/E/G ratio of 1.51 and a beta of 1.36. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $243.06. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during 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 company’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the business posted $2.90 earnings per share. research analysts anticipate that FedEx Co. will post 12.47 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.83%. FedEx’s dividend payout ratio (DPR) is presently 18.87%.
In related news, insider Henry J. Maier sold 11,150 shares of FedEx stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at $8,395,219.62. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 3,980 shares of FedEx stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares of the company’s stock, valued at $1,371,344. The disclosure for this sale can be found here. Over the last quarter, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by company insiders.
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FedEx Company Profile
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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