American Research & Management Co. raised its holdings in FedEx Co. (NYSE:FDX) by 224.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,165 shares of the shipping service provider’s stock after purchasing an additional 7,720 shares during the period. American Research & Management Co.’s holdings in FedEx were worth $2,025,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Berman Capital Advisors LLC purchased a new position in FedEx during the fourth quarter valued at approximately $25,000. Cordasco Financial Network grew its stake in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock valued at $28,000 after acquiring an additional 100 shares in the last quarter. Northwest Wealth Management LLC grew its stake in FedEx by 842.1% during the fourth quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after acquiring an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its stake in FedEx by 1,666.7% during the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 200 shares in the last quarter. Finally, Advocacy Wealth Management Services LLC grew its stake in FedEx by 52.5% during the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after acquiring an additional 63 shares in the last quarter. Hedge funds and other institutional investors own 71.70% of the company’s stock.
FDX has been the subject of several recent analyst reports. ValuEngine raised shares of FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Morgan Stanley reduced their price objective on shares of FedEx from $156.00 to $148.00 and set an “equal weight” rating for the company in a research note on Wednesday, March 20th. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of FedEx in a research note on Monday, April 1st. Zacks Investment Research reiterated a “strong sell” rating on shares of FedEx in a research report on Monday, December 31st. Finally, Bank of America reiterated a “neutral” rating and set a $193.00 target price (down from $220.00) on shares of FedEx in a research report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus price target of $214.19.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company’s revenue for the quarter was up 2.9% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.72 earnings per share. Equities research analysts predict that FedEx Co. will post 15.48 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.32%. FedEx’s payout ratio is 16.98%.
In other news, CEO Frederick W. Smith sold 155,650 shares of the business’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the completion of the sale, the chief executive officer now directly owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John L. Merino sold 2,300 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 187,950 shares of company stock valued at $35,170,622. Company insiders own 8.50% of the company’s stock.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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