Meitav Investment House Ltd. lowered its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 17.2% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,702 shares of the shipping service provider’s stock after selling 10,337 shares during the quarter. Meitav Investment House Ltd.’s holdings in FedEx were worth $12,451,000 at the end of the most recent reporting period.
Several other large investors have also recently added to or reduced their stakes in the stock. Guardian Wealth Advisors LLC bought a new position in FedEx in the 1st quarter worth approximately $26,000. GW&K Investment Management LLC acquired a new position in shares of FedEx during the first quarter valued at $27,000. Glass Jacobson Investment Advisors llc bought a new stake in shares of FedEx during the second quarter valued at about $27,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in FedEx in the first quarter worth about $35,000. Finally, Worth Asset Management LLC acquired a new position in FedEx during the 1st quarter valued at about $41,000. 73.61% of the stock is owned by institutional investors and hedge funds.
FedEx Stock Up 2.3 %
Shares of FDX stock traded up $5.87 on Wednesday, hitting $260.05. The company’s stock had a trading volume of 372,920 shares, compared to its average volume of 1,950,395. The stock has a market capitalization of $65.38 billion, a price-to-earnings ratio of 15.50, a P/E/G ratio of 1.13 and a beta of 1.34. FedEx Co. has a fifty-two week low of $162.61 and a fifty-two week high of $270.95. The firm’s fifty day moving average price is $250.53 and its 200-day moving average price is $247.01. The company has a debt-to-equity ratio of 0.76, a current ratio of 1.37 and a quick ratio of 1.32.
FedEx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.94%. The ex-dividend date of this dividend was Friday, September 8th. FedEx’s payout ratio is 30.73%.
Insider Buying and Selling
In other FedEx news, VP Jennifer L. Johnson sold 13,348 shares of the business’s stock in a transaction on Friday, October 6th. The shares were sold at an average price of $258.25, for a total transaction of $3,447,121.00. Following the completion of the transaction, the vice president now owns 3,428 shares of the company’s stock, valued at approximately $885,281. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 8.73% of the stock is owned by insiders.
Analysts Set New Price Targets
A number of research firms recently commented on FDX. Wells Fargo & Company raised their price objective on shares of FedEx from $270.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, September 21st. Barclays upped their price objective on FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, September 15th. BMO Capital Markets lifted their target price on FedEx from $280.00 to $290.00 and gave the stock a “market perform” rating in a report on Friday, September 22nd. Morgan Stanley upped their price target on shares of FedEx from $200.00 to $205.00 and gave the company an “equal weight” rating in a report on Thursday, September 21st. Finally, Loop Capital boosted their target price on shares of FedEx from $255.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, September 22nd. Seven research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $282.54.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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