Robeco Institutional Asset Management B.V. raised its position in FedEx Co. (NYSE:FDX – Get Rating) by 10.8% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 69,234 shares of the shipping service provider’s stock after buying an additional 6,722 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in FedEx were worth $10,279,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FDX. Coston McIsaac & Partners acquired a new stake in FedEx in the 2nd quarter worth about $30,000. Cowa LLC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $33,000. Providence First Trust Co acquired a new position in shares of FedEx during the 3rd quarter worth approximately $35,000. Global Wealth Management Investment Advisory Inc. acquired a new position in shares of FedEx during the 1st quarter worth approximately $35,000. Finally, Parkwood LLC boosted its holdings in shares of FedEx by 3.8% during the 2nd quarter. Parkwood LLC now owns 37,037 shares of the shipping service provider’s stock worth $37,000 after purchasing an additional 1,373 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several research analysts have recently weighed in on FDX shares. BMO Capital Markets boosted their target price on FedEx from $180.00 to $210.00 and gave the stock a “market perform” rating in a report on Monday, March 13th. Jefferies Financial Group boosted their target price on FedEx from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, December 22nd. Evercore ISI boosted their target price on FedEx from $196.00 to $234.00 and gave the stock an “outperform” rating in a report on Monday, February 27th. Bank of America upped their price objective on FedEx from $233.00 to $305.00 in a report on Friday. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on FedEx from $190.00 to $217.00 in a report on Monday, November 28th. Ten analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $230.75.
FedEx Stock Up 8.0 %
FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, topping analysts’ consensus estimates of $2.67 by $0.74. FedEx had a return on equity of 19.17% and a net margin of 3.54%. The business had revenue of $22.17 billion for the quarter, compared to analyst estimates of $22.74 billion. During the same quarter in the prior year, the company earned $4.59 earnings per share. The company’s revenue was down 6.2% on a year-over-year basis. As a group, equities analysts expect that FedEx Co. will post 13.53 earnings per share for the current fiscal year.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be given a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.09%. The ex-dividend date of this dividend is Friday, March 10th. FedEx’s dividend payout ratio is currently 36.14%.
Insider Activity at FedEx
In other FedEx news, Director Amy B. Lane bought 280 shares of the company’s stock in a transaction that occurred on Tuesday, January 3rd. The shares were purchased at an average price of $175.83 per share, with a total value of $49,232.40. Following the completion of the acquisition, the director now directly owns 1,529 shares of the company’s stock, valued at approximately $268,844.07. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 8.62% of the stock is currently owned by corporate insiders.
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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