Quantbot Technologies LP Buys New Position in FedEx Co. (FDX)
Quantbot Technologies LP bought a new stake in FedEx Co. (NYSE:FDX) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 10,139 shares of the shipping service provider’s stock, valued at approximately $2,287,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its stake in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the period. Krilogy Financial LLC lifted its stake in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of FedEx in the 1st quarter valued at approximately $100,000. Alexandria Capital LLC lifted its stake in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. purchased a new position in FedEx during the third quarter valued at $132,000. Institutional investors own 75.74% of the company’s stock.
In other news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated 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 transaction, the executive vice president now directly owns 30,499 shares in the company, valued at $6,709,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 in the last three months. 8.45% of the stock is currently owned by corporate insiders.
FDX has been the subject of a number of recent research reports. Cowen reiterated a “buy” rating and set a $240.00 price objective on shares of FedEx in a research note on Thursday, August 10th. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx in a research note on Wednesday, August 16th. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Vetr cut FedEx to a “sell” rating and set a $204.84 price objective for the company. in a research note on Thursday, August 31st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $245.00 price objective on shares of FedEx in a research note on Wednesday, September 6th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company. FedEx presently has a consensus rating of “Buy” and a consensus price target of $231.81.
Shares of FedEx Co. (NYSE FDX) traded up $0.99 on Thursday, hitting $236.39. The company had a trading volume of 1,523,300 shares, compared to its average volume of 1,476,526. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91. FedEx Co. has a one year low of $182.89 and a one year high of $243.06. The company has a market capitalization of $63,121.97, a price-to-earnings ratio of 19.76, a P/E/G ratio of 1.48 and a beta of 1.36.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the previous year, the firm earned $2.90 EPS. The business’s revenue was up 4.1% on a year-over-year basis. research analysts anticipate that FedEx Co. will post 12.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.85%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio is presently 18.87%.
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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