FedEx Co. (FDX) Position Lowered by American International Group Inc.
American International Group Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 4.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 73,584 shares of the shipping service provider’s stock after selling 3,770 shares during the quarter. American International Group Inc.’s holdings in FedEx were worth $16,599,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its stake in shares of FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after acquiring an additional 492,840 shares in the last quarter. BlackRock Inc. lifted its stake in shares of FedEx by 1,912.1% in the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after acquiring an additional 14,086,601 shares in the last quarter. FMR LLC increased its holdings in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after buying an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. increased its holdings in FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after buying an additional 266,660 shares during the last quarter. Finally, Capital World Investors increased its holdings in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after buying an additional 501,617 shares during the last quarter. Institutional investors and hedge funds own 75.73% of the company’s stock.
Shares of FedEx Co. (NYSE:FDX) opened at $240.73 on Monday. The firm has a market capitalization of $64,551.20, a P/E ratio of 20.21, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $243.06.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.83%. FedEx’s dividend payout ratio (DPR) is presently 18.87%.
In other 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 sale, the director now owns 6,080 shares in the company, valued at approximately $1,371,344. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the sale, the insider now owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock valued at $9,024,637 in the last quarter. Insiders own 8.45% of the company’s stock.
Several analysts recently weighed in on the company. Barclays reissued an “overweight” rating and issued a $270.00 price objective (up from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Sanford C. Bernstein set a $212.00 price objective on FedEx and gave the company a “hold” rating in a report on Wednesday, November 15th. Goldman Sachs Group assumed coverage on FedEx in a report on Monday, November 13th. They issued a “buy” rating and a $270.00 price objective for the company. Finally, Oppenheimer reissued a “buy” rating and issued a $236.00 price objective on shares of FedEx in a report on Friday, October 20th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $231.81.
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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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