Cozad Asset Management Inc. decreased its position in FedEx Co. (NYSE:FDX) by 0.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 18,020 shares of the shipping service provider’s stock after selling 105 shares during the period. FedEx comprises about 1.0% of Cozad Asset Management Inc.’s investment portfolio, making the stock its 25th biggest holding. Cozad Asset Management Inc.’s holdings in FedEx were worth $2,907,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Trinity Street Asset Management LLP boosted its stake in FedEx by 0.5% in the 4th quarter. Trinity Street Asset Management LLP now owns 205,545 shares of the shipping service provider’s stock worth $33,160,000 after purchasing an additional 1,089 shares during the period. American National Bank boosted its stake in FedEx by 16.9% in the 4th quarter. American National Bank now owns 16,593 shares of the shipping service provider’s stock worth $2,677,000 after purchasing an additional 2,400 shares during the period. Sound Income Strategies LLC boosted its stake in FedEx by 1,666.7% in the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 200 shares during the period. Cornerstone Investment Partners LLC boosted its stake in FedEx by 12.3% in the 4th quarter. Cornerstone Investment Partners LLC now owns 400,486 shares of the shipping service provider’s stock worth $64,610,000 after purchasing an additional 43,758 shares during the period. Finally, New England Research & Management Inc. boosted its stake in FedEx by 50.8% in the 4th quarter. New England Research & Management Inc. now owns 6,445 shares of the shipping service provider’s stock worth $1,040,000 after purchasing an additional 2,170 shares during the period. 72.44% of the stock is owned by hedge funds and other institutional investors.
In related news, Director David P. Steiner acquired 7,000 shares of the company’s stock in a transaction dated Wednesday, January 2nd. The shares were bought at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the acquisition, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the company’s stock in a transaction dated Wednesday, October 17th. The shares were bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the consensus estimate of $4.05 by ($0.02). The firm had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter last year, the business earned $3.18 EPS. Analysts anticipate that FedEx Co. will post 15.91 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were issued a $0.65 dividend. The ex-dividend date was Friday, December 7th. This represents a $2.60 annualized dividend and a yield of 1.51%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
A number of equities research analysts have issued reports on FDX shares. Wolfe Research set a $275.00 target price on shares of FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Daiwa Capital Markets set a $190.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Thursday, December 20th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a report on Monday, December 3rd. Loop Capital raised their price target on shares of FedEx to $318.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. Finally, BMO Capital Markets cut their price target on shares of FedEx to $245.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $237.75.
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FedEx Company 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.
Further Reading: Market Capitalization and Individual Investors
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