Tower Bridge Advisors Acquires 1,681 Shares of FedEx Co. (FDX)

Tower Bridge Advisors lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 3.0% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 58,337 shares of the shipping service provider’s stock after purchasing an additional 1,681 shares during the period. FedEx comprises about 1.5% of Tower Bridge Advisors’ investment portfolio, making the stock its 20th biggest position. Tower Bridge Advisors’ holdings in FedEx were worth $13,160,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew 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 worth $104,000 after acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC grew 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 worth $111,000 after acquiring an additional 2 shares during the last quarter. FNY Managed Accounts LLC bought a new stake in FedEx in the 1st quarter worth $100,000. Alexandria Capital LLC grew 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 worth $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Hefty Wealth Partners grew its holdings in FedEx by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after acquiring an additional 130 shares during the last quarter. 75.74% of the stock is currently owned by institutional investors and hedge funds.

In related news, 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 transaction of $897,689.00. Following the completion of the transaction, the director now directly owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The disclosure for this sale can be found here. Over the last three months, insiders have sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is currently owned by corporate insiders.

A number of brokerages have issued reports on FDX. Cowen reissued an “outperform” rating and issued a $240.00 price target on shares of FedEx in a report on Friday, October 13th. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx in a report on Wednesday, August 16th. Citigroup reissued a “buy” rating and issued a $235.00 price target on shares of FedEx in a report on Thursday, September 14th. Bank of America reissued a “buy” rating and issued a $240.00 price target on shares of FedEx in a report on Wednesday, September 20th. Finally, Vetr lowered shares of FedEx to a “sell” rating and set a $204.84 price target on the stock. in a report on Thursday, August 31st. Two 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’s stock. FedEx has a consensus rating of “Buy” and a consensus target price of $231.81.

Shares of FedEx Co. (NYSE:FDX) opened at $230.84 on Friday. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $233.89. The firm has a market cap of $61,899.29, a PE ratio of 19.38, a PEG ratio of 1.45 and a beta of 1.36. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period last year, the business earned $2.90 earnings per share. The company’s revenue was up 4.1% on a year-over-year basis. sell-side analysts forecast that FedEx Co. will post 12.47 earnings per share for the current fiscal year.

The firm 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 dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.87%. FedEx’s dividend payout ratio (DPR) is currently 18.87%.

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About FedEx

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.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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