FedEx Co. (NYSE:FDX) Stock Position Lessened by Westwood Holdings Group Inc.
Westwood Holdings Group Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 13.4% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 265,368 shares of the shipping service provider’s stock after selling 40,942 shares during the quarter. Westwood Holdings Group Inc. owned 0.10% of FedEx worth $43,571,000 as of its most recent filing with the SEC.
Several other large investors have also added to or reduced their stakes in the company. Sageworth Trust Co bought a new position in FedEx during the second quarter valued at about $25,000. Evolution Wealth Advisors LLC bought a new position in FedEx during the first quarter valued at about $31,000. Nelson Roberts Investment Advisors LLC bought a new position in FedEx during the second quarter valued at about $34,000. Icon Wealth Partners LLC bought a new position in FedEx during the first quarter valued at about $38,000. Finally, Sumitomo Mitsui Financial Group Inc. bought a new position in FedEx during the second quarter valued at about $39,000. 71.34% of the stock is owned by institutional investors.
In related news, Director Paul S. Walsh sold 4,440 shares of the stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the sale, the director now directly owns 16,440 shares of the company’s stock, valued at approximately $2,661,307.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the sale, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by corporate insiders.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.12). The business had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $17.05 billion. FedEx had a return on equity of 20.92% and a net margin of 0.65%. The firm’s revenue was up .0% on a year-over-year basis. During the same period in the prior year, the company posted $3.46 earnings per share. As a group, analysts forecast that FedEx Co. will post 14.78 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be paid a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.74%. The ex-dividend date is Friday, September 6th. FedEx’s dividend payout ratio is currently 16.75%.
Several equities research analysts have recently commented on FDX shares. Standpoint Research raised FedEx from a “hold” rating to a “buy” rating in a report on Thursday. Deutsche Bank raised FedEx from a “hold” rating to a “buy” rating in a report on Wednesday. Credit Suisse Group reduced their target price on FedEx from $175.00 to $168.00 and set an “outperform” rating for the company in a report on Wednesday. ValuEngine downgraded FedEx from a “hold” rating to a “sell” rating in a report on Thursday, August 1st. Finally, Edward Jones downgraded FedEx from a “buy” rating to a “hold” rating in a report on Wednesday. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $175.96.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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