Commonwealth Equity Services Inc boosted its stake in shares of FedEx Co. (NYSE:FDX) by 2.0% during the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 99,168 shares of the shipping service provider’s stock after purchasing an additional 1,898 shares during the period. Commonwealth Equity Services Inc’s holdings in FedEx were worth $22,370,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new position in FedEx during the first quarter valued at approximately $100,000. Salem Investment Counselors Inc. lifted its stake in 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 acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC lifted its stake in 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 acquiring an additional 2 shares during the last quarter. Alexandria Capital LLC lifted its stake in FedEx by 2.5% in the second 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 stake in FedEx in the third quarter valued at approximately $132,000. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
A number of analysts have issued reports on the stock. Barclays reiterated an “overweight” rating and issued a $270.00 target price (up from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Sanford C. Bernstein set a $212.00 target price on shares of FedEx and gave the company a “hold” rating in a research note on Wednesday, November 15th. Goldman Sachs Group assumed coverage on shares of FedEx in a research note on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Finally, Oppenheimer reiterated a “buy” rating and issued a $236.00 target price on shares of FedEx in a research note on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $231.81.
Shares of FedEx Co. (NYSE FDX) traded up $0.99 during trading on Thursday, hitting $236.39. 1,523,300 shares of the stock were exchanged, compared to its average volume of 1,476,526. 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 twelve month low of $182.89 and a twelve month high of $243.06. The firm has a market capitalization of $63,121.97, a PE ratio of 19.76, a price-to-earnings-growth 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 earnings per share 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 firm had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. FedEx’s quarterly revenue was up 4.1% compared to the same quarter last year. equities research analysts anticipate that FedEx Co. will post 12.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is 18.87%.
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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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