Mutual of America Capital Management LLC trimmed its stake in FedEx Co. (NYSE:FDX) by 1.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 52,755 shares of the shipping service provider’s stock after selling 555 shares during the quarter. Mutual of America Capital Management LLC’s holdings in FedEx were worth $12,703,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Palo Capital Inc. purchased a new stake in shares of FedEx in the third quarter worth approximately $108,000. Moneta Group Investment Advisors LLC lifted its position in shares of FedEx by 14,117.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock worth $114,000 after purchasing an additional 63,386 shares in the last quarter. Fortis Advisors LLC raised its position in FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares in the last quarter. Lenox Wealth Advisors LLC bought a new position in FedEx during the third quarter valued at approximately $120,000. Finally, Qube Research & Technologies Ltd bought a new position in FedEx during the second quarter valued at approximately $129,000. 72.11% of the stock is owned by institutional investors and hedge funds.
FDX has been the topic of several recent research reports. Wolfe Research set a $275.00 price objective on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Loop Capital raised their price objective on shares of FedEx to $318.00 and gave the company a “buy” rating in a research report on Tuesday, September 18th. Berenberg Bank initiated coverage on shares of FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 price objective on the stock. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research report on Monday, November 26th. Finally, Robert W. Baird raised their price objective on shares of FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research report on Tuesday, September 18th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and eighteen have assigned a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $286.35.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the consensus estimate of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The company had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same quarter last year, the business earned $2.65 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, sell-side analysts anticipate that FedEx Co. will post 17.35 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, December 7th. This represents a $2.60 annualized dividend and a yield of 1.14%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
In related news, Director Susan Patricia Griffith acquired 1,000 shares of the stock in a transaction dated Wednesday, October 17th. The shares were acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the sale, the director now owns 32,800 shares in the company, valued at approximately $7,949,080. The disclosure for this sale can be found here. Company insiders own 8.50% of the company’s stock.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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