Asset Advisors Investment Management LLC Has $3.73 Million Position in FedEx Co. (FDX)

Asset Advisors Investment Management LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 31.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,585 shares of the shipping service provider’s stock after selling 9,525 shares during the quarter. Asset Advisors Investment Management LLC’s holdings in FedEx were worth $3,734,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Berman Capital Advisors LLC bought a new stake in FedEx during the fourth quarter worth $25,000. Cordasco Financial Network lifted 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 worth $28,000 after purchasing an additional 100 shares during the last quarter. Northwest Wealth Management LLC lifted 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 worth $29,000 after purchasing an additional 160 shares during the last quarter. Sound Income Strategies LLC lifted 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 worth $34,000 after purchasing an additional 200 shares during the last quarter. Finally, Advocacy Wealth Management Services LLC lifted 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 worth $34,000 after purchasing an additional 63 shares during the last quarter. 71.70% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on FDX shares. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $256.00 price target on shares of FedEx in a research note on Tuesday, December 18th. Deutsche Bank dropped their price target on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. UBS Group dropped their price target on FedEx from $256.00 to $205.00 and set a “neutral” rating for the company in a research note on Wednesday, December 19th. Credit Suisse Group dropped their price target on FedEx from $263.00 to $236.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. Finally, BMO Capital Markets dropped their price target on FedEx to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $214.19.

Shares of NYSE:FDX opened at $197.23 on Wednesday. The firm has a market cap of $51.21 billion, a P/E ratio of 12.88, a P/E/G ratio of 1.00 and a beta of 1.62. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $266.67.

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 Thomson Reuters’ 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 return on equity of 22.67% and a net margin of 5.25%. The firm’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same period in the prior year, the business earned $3.72 earnings per share. Analysts expect that FedEx Co. will post 15.48 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.32%. The ex-dividend date was Friday, March 8th. FedEx’s dividend payout ratio is currently 16.98%.

In related news, EVP Alan B. Graf, Jr. sold 27,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at approximately $34,715,456. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now directly 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 ninety days, insiders have sold 187,950 shares of company stock valued at $35,170,622. 8.50% of the stock is owned by corporate insiders.

ILLEGAL ACTIVITY WARNING: This story was first published by Community Financial News and is owned by of Community Financial News. If you are reading this story on another site, it was illegally copied and reposted in violation of U.S. & international copyright law. The correct version of this story can be read at https://www.com-unik.info/2019/04/17/asset-advisors-investment-management-llc-has-3-73-million-position-in-fedex-co-fdx.html.

About FedEx

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.

Read More: Commodities

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit