FedEx Co. (FDX) is AMI Asset Management Corp’s 5th Largest Position
AMI Asset Management Corp cut its position in FedEx Co. (NYSE:FDX) by 3.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 169,051 shares of the shipping service provider’s stock after selling 6,685 shares during the period. FedEx accounts for about 2.9% of AMI Asset Management Corp’s investment portfolio, making the stock its 5th biggest position. AMI Asset Management Corp’s holdings in FedEx were worth $42,185,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Strategic Advisors LLC boosted its position in FedEx by 16.7% in the second quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after buying an additional 306 shares in the last quarter. Stevens Capital Management LP boosted its position in FedEx by 60.6% in the second quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock valued at $8,550,000 after buying an additional 14,845 shares in the last quarter. Vanguard Group Inc. boosted its position in FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares in the last quarter. Prudential PLC boosted its position in FedEx by 25.8% in the second quarter. Prudential PLC now owns 52,403 shares of the shipping service provider’s stock valued at $11,389,000 after buying an additional 10,753 shares in the last quarter. Finally, Sandy Spring Bank boosted its position in FedEx by 4.8% in the second quarter. Sandy Spring Bank now owns 3,241 shares of the shipping service provider’s stock valued at $705,000 after buying an additional 147 shares in the last quarter. Hedge funds and other institutional investors own 75.69% of the company’s stock.
In related news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Kim Jabal sold 3,980 shares of the stock in a transaction that occurred on Wednesday, November 1st. The shares were 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 owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold 68,671 shares of company stock worth $17,137,160 over the last 90 days. 8.45% of the stock is currently owned by company insiders.
FDX has been the topic of a number of recent analyst reports. Wells Fargo & Co boosted their price target on shares of FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Citigroup boosted their price target on shares of FedEx to $275.00 and gave the company a “buy” rating in a research report on Tuesday, December 12th. Credit Suisse Group restated a “positive” rating and issued a $283.00 price target (up from $278.00) on shares of FedEx in a research report on Wednesday, December 20th. Stephens set a $306.00 target price on shares of FedEx and gave the stock a “buy” rating in a research report on Wednesday, December 20th. Finally, Bank of America reiterated a “buy” rating and set a $247.00 target price (up from $240.00) on shares of FedEx in a research report on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. FedEx has an average rating of “Buy” and an average target price of $269.95.
FedEx Co. (FDX) opened at $269.58 on Wednesday. FedEx Co. has a twelve month low of $182.89 and a twelve month high of $273.16. The firm has a market cap of $72,220.00, a P/E ratio of 24.78, a P/E/G ratio of 1.62 and a beta of 1.36. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same period in the prior year, the business posted $2.80 earnings per share. FedEx’s revenue was up 9.4% compared to the same quarter last year. equities analysts predict that FedEx Co. will post 13.13 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were issued a $0.50 dividend. The ex-dividend date was Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.74%. FedEx’s dividend payout ratio is currently 18.38%.
COPYRIGHT VIOLATION WARNING: “FedEx Co. (FDX) is AMI Asset Management Corp’s 5th Largest Position” was first reported by Watch List News and is owned by of Watch List News. If you are accessing this article on another domain, it was stolen and reposted in violation of international copyright & trademark law. The legal version of this article can be accessed at https://www.watchlistnews.com/fedex-co-fdx-is-ami-asset-management-corps-5th-largest-position/1810122.html.
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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with Analyst Ratings Network's FREE daily email newsletter.