Financial Partners Group LLC raised its stake in FedEx Co. (NYSE:FDX – Free Report) by 10.1% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,564 shares of the shipping service provider’s stock after purchasing an additional 3,256 shares during the quarter. FedEx comprises approximately 4.4% of Financial Partners Group LLC’s holdings, making the stock its 4th biggest holding. Financial Partners Group LLC’s holdings in FedEx were worth $8,816,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in the stock. RB Capital Management LLC increased its position in shares of FedEx by 3.3% in the first quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after acquiring an additional 63 shares in the last quarter. AMI Investment Management Inc. increased its holdings in FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock valued at $3,560,000 after purchasing an additional 4,693 shares in the last quarter. Moors & Cabot Inc. raised its position in FedEx by 101.5% in the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after purchasing an additional 2,153 shares during the period. Baird Financial Group Inc. lifted its stake in shares of FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock worth $34,408,000 after purchasing an additional 10,731 shares in the last quarter. Finally, Loomis Sayles & Co. L P boosted its position in shares of FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock worth $91,000 after buying an additional 332 shares during the period. 73.61% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on the company. Stifel Nicolaus raised their target price on FedEx from $284.00 to $285.00 in a report on Thursday, October 5th. Loop Capital upped their target price on shares of FedEx from $255.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, September 22nd. Evercore ISI lifted their price target 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. UBS Group upped their price objective on shares of FedEx from $312.00 to $323.00 and gave the company a “buy” rating in a research report on Thursday, September 21st. Finally, Wells Fargo & Company lifted their target price on FedEx from $270.00 to $280.00 and gave the stock an “equal weight” rating in a research report on Thursday, September 21st. Seven research analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $282.54.
Insider Buying and Selling
In other news, VP Jennifer L. Johnson sold 13,348 shares of the company’s stock in a transaction on Friday, October 6th. The stock was sold at an average price of $258.25, for a total value of $3,447,121.00. Following the completion of the sale, the vice president now owns 3,428 shares in the company, valued at $885,281. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 8.73% of the company’s stock.
FedEx Stock Performance
FDX traded up $1.01 on Friday, hitting $255.95. 1,231,410 shares of the company’s stock were exchanged, compared to its average volume of 1,953,706. The company has a current ratio of 1.37, a quick ratio of 1.32 and a debt-to-equity ratio of 0.76. The stock has a fifty day moving average of $250.56 and a two-hundred day moving average of $247.44. FedEx Co. has a twelve month low of $162.61 and a twelve month high of $270.95. The firm has a market cap of $64.35 billion, a PE ratio of 15.61, a P/E/G ratio of 1.18 and a beta of 1.34.
FedEx (NYSE:FDX – Get Free Report) last issued its earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share for the quarter, topping the consensus estimate of $3.71 by $0.84. The firm had revenue of $21.68 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a return on equity of 16.14% and a net margin of 4.71%. The firm’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same period last year, the company earned $3.44 earnings per share. On average, research analysts anticipate that FedEx Co. will post 18.14 earnings per share for the current fiscal year.
FedEx Announces Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a dividend of $1.26 per share. The ex-dividend date is Friday, December 8th. This represents a $5.04 dividend on an annualized basis and a yield of 1.97%. FedEx’s dividend payout ratio (DPR) is presently 30.73%.
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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