Mascoma Wealth Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX – Get Rating) by 18.5% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 330 shares of the shipping service provider’s stock after selling 75 shares during the quarter. Mascoma Wealth Management LLC’s holdings in FedEx were worth $75,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Dodge & Cox lifted its stake in FedEx by 22.2% during the fourth quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock valued at $4,312,801,000 after buying an additional 3,031,046 shares in the last quarter. Norges Bank purchased a new stake in FedEx during the fourth quarter valued at about $593,029,000. Assenagon Asset Management S.A. lifted its stake in FedEx by 11,807.1% during the first quarter. Assenagon Asset Management S.A. now owns 548,918 shares of the shipping service provider’s stock valued at $127,014,000 after buying an additional 544,308 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in FedEx by 24,340.9% during the first quarter. Los Angeles Capital Management LLC now owns 490,284 shares of the shipping service provider’s stock valued at $113,447,000 after buying an additional 488,278 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in FedEx by 2.1% during the first quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock valued at $4,346,614,000 after buying an additional 394,289 shares in the last quarter. 71.62% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
FDX has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of FedEx from an “overweight” rating to a “neutral” rating and reduced their price objective for the company from $258.00 to $214.00 in a research note on Friday, September 16th. Morgan Stanley reduced their price target on shares of FedEx from $255.00 to $250.00 in a research report on Wednesday, September 7th. Cowen reduced their price target on shares of FedEx from $310.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. StockNews.com lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Monday. Finally, Cowen reduced their price target on shares of FedEx from $310.00 to $230.00 and set an “outperform” rating for the company in a research report on Friday, September 16th. Ten equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $230.91.
FedEx Trading Up 0.8 %
Shares of FDX stock opened at $154.54 on Friday. FedEx Co. has a 12 month low of $150.34 and a 12 month high of $266.79. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. The business’s 50 day moving average is $216.15 and its two-hundred day moving average is $216.44. The company has a market cap of $40.17 billion, a PE ratio of 10.81, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21.
FedEx (NYSE:FDX – Get Rating) last announced its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 EPS for the quarter, missing the consensus estimate of $5.14 by ($1.70). FedEx had a net margin of 4.09% and a return on equity of 22.29%. The company had revenue of $23.20 billion for the quarter, compared to analyst estimates of $23.78 billion. During the same quarter last year, the business earned $4.37 EPS. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. Equities analysts predict that FedEx Co. will post 16.55 EPS for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a $1.15 dividend. The ex-dividend date is Thursday, September 1st. This represents a $4.60 annualized dividend and a dividend yield of 2.98%. FedEx’s dividend payout ratio is 32.17%.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
- Get a free copy of the StockNews.com research report on FedEx (FDX)
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