FIL Ltd Sells 487 Shares of FedEx Co. (FDX)

FIL Ltd reduced its stake in FedEx Co. (NYSE:FDX) by 6.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,174 shares of the shipping service provider’s stock after selling 487 shares during the quarter. FIL Ltd’s holdings in FedEx were worth $1,727,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. North Star Asset Management Inc. lifted its position in shares of FedEx by 4.0% in the third quarter. North Star Asset Management Inc. now owns 38,811 shares of the shipping service provider’s stock valued at $9,345,000 after acquiring an additional 1,510 shares in the last quarter. Northwestern Mutual Wealth Management Co. lifted its position in FedEx by 3.9% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 60,766 shares of the shipping service provider’s stock worth $13,800,000 after buying an additional 2,253 shares during the period. Pensionfund Sabic purchased a new position in FedEx during the third quarter worth about $2,263,000. Bruderman Asset Management LLC lifted its position in FedEx by 654.8% during the second quarter. Bruderman Asset Management LLC now owns 15,405 shares of the shipping service provider’s stock worth $3,498,000 after buying an additional 13,364 shares during the period. Finally, Lido Advisors LLC lifted its position in FedEx by 26.6% during the second quarter. Lido Advisors LLC now owns 1,960 shares of the shipping service provider’s stock worth $445,000 after buying an additional 412 shares during the period. Institutional investors and hedge funds own 72.11% of the company’s stock.

Several research firms recently weighed in on FDX. Morgan Stanley reiterated a “hold” rating and set a $242.00 target price (down from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Credit Suisse Group set a $307.00 target price on FedEx and gave the stock a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 target price on shares of FedEx in a research report on Tuesday, September 18th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Finally, Berenberg Bank began coverage on FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 target price on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $286.35.

Shares of NYSE:FDX opened at $229.00 on Monday. The stock has a market cap of $60.35 billion, a price-to-earnings ratio of 14.07, a PEG ratio of 1.03 and a beta of 1.35. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. FedEx Co. has a 12 month low of $207.90 and a 12 month high of $274.66.

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 Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The firm had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The business’s revenue was up 11.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.65 earnings per share. Research analysts predict that FedEx Co. will post 17.35 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be paid 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 is presently 16.98%.

In other news, Director Susan Patricia Griffith purchased 1,000 shares of the company’s stock in a transaction on Wednesday, October 17th. The stock was bought at an average cost of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the sale, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The disclosure for this sale can be found here. Corporate insiders own 8.50% of the company’s stock.

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FedEx Profile

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.

See Also: How Investors Use a Balance Sheet

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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