Valicenti Advisory Services Inc. bought a new position in shares of FedEx Co. (NYSE:FDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 32,210 shares of the shipping service provider’s stock, valued at approximately $5,196,000. FedEx makes up about 2.6% of Valicenti Advisory Services Inc.’s holdings, making the stock its 12th biggest position.
Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. Franklin Resources Inc. raised its stake in FedEx by 2.2% in the third quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock valued at $132,752,000 after purchasing an additional 11,798 shares in the last quarter. North Star Asset Management Inc. raised its stake in 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 purchasing an additional 1,510 shares in the last quarter. Wakefield Asset Management LLLP acquired a new position in FedEx in the third quarter valued at about $3,561,000. Rampart Investment Management Company LLC raised its stake in FedEx by 25.2% in the third quarter. Rampart Investment Management Company LLC now owns 3,150 shares of the shipping service provider’s stock valued at $592,269,000 after purchasing an additional 635 shares in the last quarter. Finally, Pensionfund Sabic acquired a new position in FedEx in the third quarter valued at about $2,263,000. 72.38% of the stock is owned by institutional investors.
FDX has been the subject of a number of analyst reports. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $256.00 price target on shares of FedEx in a research note on Tuesday, December 18th. Berenberg Bank reissued a “buy” rating and set a $245.00 target price on shares of FedEx in a research note on Monday, January 7th. Robert W. Baird lowered their target price on FedEx from $225.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. Morgan Stanley lowered their target price on FedEx from $240.00 to $230.00 and set an “equal weight” rating for the company in a research note on Tuesday, December 4th. Finally, Deutsche Bank lowered their target price on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Two investment analysts have rated the stock with a sell rating, two have assigned a hold rating and seventeen have given a buy rating to the company’s stock. FedEx has an average rating of “Buy” and an average price target of $237.75.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.02). The firm had revenue of $17.82 billion for 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 firm posted $3.18 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 15.91 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.48%. The ex-dividend date was Friday, December 7th. FedEx’s dividend payout ratio (DPR) is currently 16.98%.
In other news, Director David P. Steiner purchased 7,000 shares of FedEx stock in a transaction dated Wednesday, January 2nd. The shares were bought at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the acquisition, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. 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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