Underhill Investment Management LLC Takes Position in FedEx Co. (FDX)
Underhill Investment Management LLC purchased a new stake in shares of FedEx Co. (NYSE:FDX) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 33,445 shares of the shipping service provider’s stock, valued at approximately $7,545,000. FedEx comprises about 4.1% of Underhill Investment Management LLC’s investment portfolio, making the stock its 13th biggest position.
A number of other institutional investors have also made changes to their positions in FDX. BlackRock Inc. lifted its holdings in FedEx by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after purchasing an additional 14,086,601 shares during the last quarter. Harbour Capital Advisors LLC increased its position in FedEx by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after buying an additional 1,418,066 shares during the period. Davis Selected Advisers increased its position in FedEx by 265.4% during the 2nd quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after buying an additional 1,223,646 shares during the period. Vanguard Group Inc. increased its position in FedEx by 5.4% during the 1st quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares during the period. Finally, Janus Henderson Group PLC increased its position in FedEx by 381.6% during the 2nd quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after buying an additional 699,728 shares during the period. 76.07% of the stock is owned by institutional investors and hedge funds.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of FedEx 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 owns 30,499 shares in the company, valued at $6,709,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Kim Jabal sold 3,980 shares of FedEx stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares in the company, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock worth $9,024,637 in the last 90 days. 8.45% of the stock is owned by company insiders.
FedEx Co. (NYSE FDX) opened at $217.00 on Friday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Co. has a 12-month low of $182.89 and a 12-month high of $231.35. The company has a market capitalization of $58,188.12, a price-to-earnings ratio of 18.22, a P/E/G ratio of 1.36 and a beta of 1.37.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ 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 company had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same quarter in the previous year, the business posted $2.90 EPS. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. analysts expect that FedEx Co. will post 12.47 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, December 8th. FedEx’s payout ratio is currently 18.87%.
Several research analysts have weighed in on the company. Cowen Inc reiterated an “outperform” rating and set a $240.00 price objective on shares of FedEx in a research report on Friday, October 13th. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx in a research report on Wednesday, August 16th. Citigroup Inc. reiterated a “buy” rating and set a $235.00 price objective on shares of FedEx in a research report on Thursday, September 14th. Bank of America Corporation reiterated a “buy” rating and set a $240.00 price objective on shares of FedEx in a research report on Wednesday, September 20th. Finally, Vetr cut FedEx to a “sell” rating and set a $204.84 price objective on the stock. in a research report on Thursday, August 31st. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $230.21.
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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Co. and related companies with Analyst Ratings Network's FREE daily email newsletter.