B. Riley Wealth Advisors Inc. raised its position in FedEx Co. (NYSE:FDX – Get Rating) by 51.5% in the 3rd quarter, Holdings Channel.com reports. The fund owned 26,897 shares of the shipping service provider’s stock after acquiring an additional 9,138 shares during the quarter. B. Riley Wealth Advisors Inc.’s holdings in FedEx were worth $3,995,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Coston McIsaac & Partners purchased a new position in shares of FedEx during the second quarter worth $30,000. Cowa LLC purchased a new stake in shares of FedEx during the third quarter worth about $33,000. Providence First Trust Co purchased a new stake in shares of FedEx during the third quarter worth about $35,000. Global Wealth Management Investment Advisory Inc. acquired a new position in FedEx during the first quarter worth about $35,000. Finally, Parkwood LLC boosted its position in FedEx by 3.8% during the second quarter. Parkwood LLC now owns 37,037 shares of the shipping service provider’s stock worth $37,000 after acquiring an additional 1,373 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, Director Amy B. Lane purchased 280 shares of the firm’s stock in a transaction on Tuesday, January 3rd. The shares were bought at an average cost of $175.83 per share, with a total value of $49,232.40. Following the purchase, the director now directly owns 1,529 shares of the company’s stock, valued at $268,844.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.62% of the stock is owned by corporate insiders.
Analyst Ratings Changes
FedEx Stock Performance
NYSE:FDX opened at $204.05 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The firm has a 50-day moving average price of $200.45 and a two-hundred day moving average price of $181.61. FedEx Co. has a twelve month low of $141.92 and a twelve month high of $248.76. The company has a market capitalization of $51.50 billion, a P/E ratio of 16.03, a price-to-earnings-growth ratio of 1.22 and a beta of 1.31.
FedEx (NYSE:FDX – Get Rating) last posted its earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating the consensus estimate of $2.72 by $0.69. FedEx had a net margin of 3.54% and a return on equity of 19.17%. The firm had revenue of $22.17 billion during the quarter, compared to the consensus estimate of $22.74 billion. During the same period last year, the firm posted $4.59 EPS. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 13.5 earnings per share for the current fiscal year.
FedEx Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.60 annualized dividend and a yield of 2.25%. FedEx’s dividend payout ratio (DPR) is currently 36.14%.
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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