Bridges Investment Counsel Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 7.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,309 shares of the shipping service provider’s stock after selling 430 shares during the quarter. Bridges Investment Counsel Inc.’s holdings in FedEx were worth $1,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Krilogy Financial LLC grew its holdings in shares of FedEx by 0.4% in the second 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 in the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of FedEx by 2.8% in the second 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 in the last quarter. RNC Capital Management LLC grew its holdings in shares of FedEx by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock valued at $434,000 after purchasing an additional 15 shares in the last quarter. High Falls Advisors Inc grew its holdings in shares of FedEx by 2.1% in the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock valued at $244,000 after purchasing an additional 23 shares in the last quarter. Finally, Sii Investments Inc. WI grew its holdings in shares of FedEx by 1.3% in the second quarter. Sii Investments Inc. WI now owns 3,402 shares of the shipping service provider’s stock valued at $739,000 after purchasing an additional 45 shares in the last quarter. 75.94% of the stock is owned by institutional investors and hedge funds.
FDX has been the subject of a number of recent research reports. Stephens set a $306.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Citigroup reissued a “buy” rating and issued a $280.00 target price on shares of FedEx in a report on Wednesday, December 20th. Robert W. Baird reissued a “buy” rating and issued a $280.00 target price on shares of FedEx in a report on Tuesday, January 9th. Finally, Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the stock. FedEx has an average rating of “Buy” and an average price target of $272.69.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same period last year, the company earned $2.80 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. equities research analysts predict that FedEx Co. will post 13.45 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Stockholders of record on Monday, April 2nd will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.82%. FedEx’s dividend payout ratio (DPR) is 18.38%.
In other news, EVP Robert B. Carter sold 3,970 shares of FedEx stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now directly owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the sale, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 53,541 shares of company stock valued at $13,692,142. Corporate insiders own 8.45% of the company’s stock.
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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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