FedEx Co. (FDX) Position Trimmed by Westwood Management Corp IL
Westwood Management Corp IL decreased its position in shares of FedEx Co. (NYSE:FDX) by 0.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 117,098 shares of the shipping service provider’s stock after selling 600 shares during the quarter. FedEx comprises approximately 4.0% of Westwood Management Corp IL’s investment portfolio, making the stock its 11th biggest holding. Westwood Management Corp IL’s holdings in FedEx were worth $26,415,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in FDX. Vanguard Group Inc. lifted its position 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 purchasing an additional 492,840 shares in the last quarter. BlackRock Inc. lifted its position 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 purchasing an additional 14,086,601 shares in the last quarter. FMR LLC lifted its position in shares of FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares in the last quarter. Ameriprise Financial Inc. lifted its position in shares of FedEx by 0.4% in the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after purchasing an additional 13,383 shares in the last quarter. Finally, Capital World Investors lifted its position in shares of FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares in the last quarter. 76.07% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx Co. (NYSE FDX) opened at $217.00 on Friday. The firm has a market cap of $58,410.61, a P/E ratio of 18.29, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $231.35.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The firm had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same period in the prior year, the company posted $2.90 EPS. equities research analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is presently 18.87%.
In other news, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares of the company’s stock, valued at approximately $8,395,219.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction that occurred 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 sale, the director now directly owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. 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 three months. Insiders own 8.45% of the company’s stock.
A number of brokerages recently weighed in on FDX. Cowen Inc restated a “buy” rating and set a $240.00 target price on shares of FedEx in a report on Thursday, August 10th. Oppenheimer Holdings, Inc. reiterated a “buy” rating and issued a $229.00 price objective on shares of FedEx in a report on Wednesday, September 20th. BidaskClub downgraded shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Stifel Nicolaus reiterated a “hold” rating and issued a $221.00 price objective (up from $216.00) on shares of FedEx in a report on Wednesday, September 20th. Finally, Wells Fargo & Company upped their price objective on shares of FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $230.21.
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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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