FedEx Co. (FDX) Shares Bought by Sheets Smith Wealth Management
Sheets Smith Wealth Management increased its stake in shares of FedEx Co. (NYSE:FDX) by 25.5% during the 4th quarter, Holdings Channel reports. The firm owned 8,550 shares of the shipping service provider’s stock after acquiring an additional 1,735 shares during the quarter. Sheets Smith Wealth Management’s holdings in FedEx were worth $2,134,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Bremer Trust National Association grew its stake in shares of FedEx by 2.6% during the fourth quarter. Bremer Trust National Association now owns 7,822 shares of the shipping service provider’s stock valued at $1,952,000 after purchasing an additional 197 shares during the last quarter. Nisa Investment Advisors LLC grew its stake in shares of FedEx by 0.6% during the fourth quarter. Nisa Investment Advisors LLC now owns 97,486 shares of the shipping service provider’s stock valued at $24,324,000 after purchasing an additional 550 shares during the last quarter. Addenda Capital Inc. lifted its holdings in FedEx by 7.7% in the fourth quarter. Addenda Capital Inc. now owns 18,291 shares of the shipping service provider’s stock valued at $4,574,000 after buying an additional 1,307 shares during the period. CHURCHILL MANAGEMENT Corp lifted its holdings in FedEx by 16.2% in the fourth quarter. CHURCHILL MANAGEMENT Corp now owns 13,512 shares of the shipping service provider’s stock valued at $3,372,000 after buying an additional 1,881 shares during the period. Finally, Sawyer & Company Inc acquired a new position in FedEx in the fourth quarter valued at approximately $1,233,000. 75.66% of the stock is currently owned by institutional investors and hedge funds.
FedEx Co. (NYSE:FDX) traded up $0.73 on Friday, reaching $271.85. 1,340,000 shares of the company’s stock traded hands, compared to its average volume of 1,960,000. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. The firm has a market capitalization of $72,830.00, a price-to-earnings ratio of 24.99, a PEG ratio of 1.60 and a beta of 1.36. FedEx Co. has a 12 month low of $182.89 and a 12 month high of $271.90.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $2.80 earnings per share. research analysts forecast that FedEx Co. will post 13.03 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.74%. FedEx’s dividend payout ratio (DPR) is presently 18.38%.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction 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 sale, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the completion of the sale, the director now owns 16,040 shares in the company, valued at $4,267,442. The disclosure for this sale can be found here. Over the last quarter, insiders sold 68,671 shares of company stock worth $17,137,160. Company insiders own 8.45% of the company’s stock.
Several equities analysts recently weighed in on FDX shares. Wells Fargo & Co increased 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. Citigroup increased their price objective on shares of FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. Credit Suisse Group restated a “positive” rating and issued a $283.00 price objective (up from $278.00) on shares of FedEx in a report on Wednesday, December 20th. Stephens set a $306.00 price objective on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Finally, Bank of America restated a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have issued a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and an average price target of $269.95.
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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