Kiwi Wealth Investments Limited Partnership Has $6.72 Million Position in FedEx Co. (FDX)
Kiwi Wealth Investments Limited Partnership increased its stake in shares of FedEx Co. (NYSE:FDX) by 3.5% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 27,967 shares of the shipping service provider’s stock after buying an additional 941 shares during the quarter. Kiwi Wealth Investments Limited Partnership’s holdings in FedEx were worth $6,715,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also modified their holdings of FDX. Moneta Group Investment Advisors LLC raised its position in FedEx by 14,866.7% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after purchasing an additional 446 shares during the last quarter. Pinnacle Wealth Planning Services Inc. bought a new position in FedEx in the 4th quarter valued at $144,000. We Are One Seven LLC bought a new position in FedEx in the 4th quarter valued at $148,000. Centaurus Financial Inc. bought a new position in FedEx in the 1st quarter valued at $156,000. Finally, Noesis Capital Mangement Corp bought a new position in FedEx in the 4th quarter valued at $202,000. Hedge funds and other institutional investors own 73.66% of the company’s stock.
In related news, Director Paul S. Walsh sold 4,400 shares of FedEx stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the completion of the sale, the director now directly owns 14,400 shares of the company’s stock, valued at $3,672,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 124,000 shares of FedEx stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total value of $31,742,760.00. Following the sale, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at $3,805,154,395.35. The disclosure for this sale can be found here. 8.45% of the stock is owned by insiders.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 20th. The shipping service provider reported $3.72 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.61. FedEx had a return on equity of 21.65% and a net margin of 6.99%. The business had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. During the same period in the previous year, the firm earned $2.35 earnings per share. The firm’s quarterly revenue was up 10.2% compared to the same quarter last year. equities research analysts anticipate that FedEx Co. will post 15.13 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Monday, June 25th will be paid a dividend of $0.65 per share. The ex-dividend date is Friday, June 22nd. This is a boost from FedEx’s previous quarterly dividend of $0.50. This represents a $2.60 dividend on an annualized basis and a dividend yield of 0.99%. FedEx’s payout ratio is 16.26%.
FDX has been the subject of several research analyst reports. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $282.00 price objective for the company in a research report on Wednesday, May 30th. Stephens set a $306.00 price objective on FedEx and gave the company a “buy” rating in a research report on Wednesday, March 21st. Stifel Nicolaus upgraded FedEx from a “hold” rating to a “buy” rating and lifted their price objective for the company from $284.00 to $295.00 in a research report on Wednesday, March 21st. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a research report on Monday, March 19th. Finally, Morgan Stanley cut their price objective on FedEx from $250.00 to $240.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 21st. One analyst has rated the stock with a sell rating, one has assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and an average price target of $280.73.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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