First Republic Investment Management Inc. raised its holdings in FedEx Co. (NYSE:FDX) by 3.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 72,493 shares of the shipping service provider’s stock after purchasing an additional 2,279 shares during the quarter. First Republic Investment Management Inc.’s holdings in FedEx were worth $16,353,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new position in FedEx in the 1st quarter valued at $100,000. Salem Investment Counselors Inc. raised its holdings in 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 acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC raised its holdings in 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 acquiring an additional 2 shares during the last quarter. Alexandria Capital LLC raised its holdings in 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 acquiring an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new position in FedEx in the 3rd quarter valued at $132,000. 75.66% of the stock is currently owned by institutional investors.
FDX has been the subject of several analyst reports. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Bank of America reissued a “buy” rating and set a $247.00 price objective (up from $240.00) on shares of FedEx in a research note on Friday, October 6th. Sanford C. Bernstein set a $236.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Wednesday, December 20th. Credit Suisse Group reissued an “outperform” rating and set a $233.00 price objective (down from $242.00) on shares of FedEx in a research note on Friday, September 15th. Finally, Citigroup reissued a “buy” rating and set a $235.00 price objective on shares of FedEx in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have issued a buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and a consensus target price of $269.04.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.29. The company had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same period in the prior year, the company posted $2.80 EPS. equities research analysts predict that FedEx Co. will post 13.03 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.74%. FedEx’s payout ratio is currently 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now owns 187,025 shares in the company, valued at approximately $46,892,778.25. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the sale, the insider now owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,671 shares of company stock valued at $17,137,160. 8.45% of the stock is currently owned by corporate insiders.
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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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