FedEx Co. (FDX) Shares Bought by National Asset Management Inc.
National Asset Management Inc. lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 32.4% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,528 shares of the shipping service provider’s stock after buying an additional 619 shares during the period. National Asset Management Inc.’s holdings in FedEx were worth $571,000 as of its most recent filing with the SEC.
Several other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of FedEx by 2.7% in the 2nd 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 during the last quarter. BlackRock Inc. grew its position in shares of FedEx by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares during the last quarter. FMR LLC grew its position in shares of FedEx by 0.3% in the 2nd 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. grew its position in shares of FedEx by 7.3% in the 3rd 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 grew its position in shares of FedEx by 16.1% in the 2nd 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. 75.73% of the stock is owned by institutional investors.
In other FedEx news, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the sale, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 over the last ninety days. 8.45% of the stock is currently owned by company insiders.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion for 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 business’s revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the business posted $2.90 earnings per share. equities research analysts predict that FedEx Co. will post 12.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors 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 dividend yield of 0.83%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is 18.87%.
FDX has been the topic of a number of analyst reports. Vetr lowered FedEx to a “sell” rating and set a $204.84 price target on the stock. in a research report on Thursday, August 31st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 27th. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 price target on shares of FedEx in a research report on Wednesday, September 6th. Bank of America restated a “buy” rating and set a $247.00 target price (up previously from $240.00) on shares of FedEx in a research report on Friday, October 6th. Finally, Citigroup restated a “buy” rating and set a $235.00 target price on shares of FedEx in a research report on Thursday, September 14th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $235.21.
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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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