Cetera Investment Advisers boosted its position in FedEx Co. (NYSE:FDX – Free Report) by 4.2% in the second quarter, Holdings Channel.com reports. The firm owned 34,478 shares of the shipping service provider’s stock after acquiring an additional 1,402 shares during the quarter. Cetera Investment Advisers’ holdings in FedEx were worth $8,547,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in the company. Glass Jacobson Investment Advisors llc acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $27,000. Guardian Wealth Advisors LLC acquired a new stake in shares of FedEx during the 1st quarter valued at approximately $26,000. GW&K Investment Management LLC acquired a new stake in shares of FedEx during the 1st quarter valued at approximately $27,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of FedEx during the 1st quarter valued at approximately $35,000. Finally, Worth Asset Management LLC acquired a new stake in shares of FedEx during the 1st quarter valued at approximately $41,000. Institutional investors and hedge funds own 73.61% of the company’s stock.
Insiders Place Their Bets
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 value of $3,447,121.00. Following the transaction, the vice president now owns 3,428 shares in the company, valued at approximately $885,281. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 8.73% of the stock is currently owned by company insiders.
FedEx Stock Performance
FedEx (NYSE:FDX – Get Free Report) last posted its earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share for the quarter, beating the consensus estimate of $3.71 by $0.84. The business had revenue of $21.68 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The business’s quarterly revenue was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.44 EPS. As a group, equities research analysts expect that FedEx Co. will post 18.14 earnings per share for the current fiscal year.
FedEx Dividend Announcement
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were issued a $1.26 dividend. The ex-dividend date was Friday, September 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.96%. FedEx’s dividend payout ratio is currently 30.73%.
Analysts Set New Price Targets
FDX has been the subject of a number of recent research reports. The Goldman Sachs Group raised their price objective on shares of FedEx from $269.00 to $278.00 in a research note on Wednesday, September 13th. Morgan Stanley raised their price objective on shares of FedEx from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 21st. Evercore ISI raised their price objective on shares of FedEx from $275.00 to $276.00 and gave the stock an “outperform” rating in a research note on Monday, September 18th. Wells Fargo & Company raised their price objective on shares of FedEx from $270.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 21st. Finally, Stifel Nicolaus raised their price objective on shares of FedEx from $284.00 to $285.00 in a research note on Thursday, October 5th. Seven equities research analysts have rated the stock with a hold rating, sixteen have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $282.54.
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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