American International Group Inc. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 4.9% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 73,584 shares of the shipping service provider’s stock after selling 3,770 shares during the quarter. American International Group Inc.’s holdings in FedEx were worth $16,599,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Strategic Advisors LLC raised its holdings in shares of FedEx by 16.7% in the second quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after purchasing an additional 306 shares during the last quarter. Handelsbanken Fonder AB bought a new position in FedEx during the second quarter worth $435,000. Stevens Capital Management LP boosted its position in FedEx by 60.6% during the second quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock worth $8,550,000 after purchasing an additional 14,845 shares during the period. Vanguard Group Inc. boosted its position in FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares during the period. Finally, Janney Montgomery Scott LLC boosted its position in shares of FedEx by 1.3% in the second quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after acquiring an additional 707 shares during the period. 75.67% of the stock is currently owned by institutional investors.
In other FedEx news, EVP Robert B. Carter sold 3,970 shares of the business’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the sale, the executive vice president now directly owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim Jabal sold 3,980 shares of the business’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares of the company’s stock, valued at approximately $1,371,344. The disclosure for this sale can be found here. Insiders have sold 19,100 shares of company stock worth $4,440,416 over the last 90 days. 8.45% of the stock is currently owned by corporate insiders.
A number of brokerages have recently issued reports on FDX. Cowen reissued an “outperform” rating and set a $240.00 target price on shares of FedEx in a research note on Friday, October 13th. Oppenheimer reissued a “buy” rating and set a $265.00 target price (up previously from $236.00) on shares of FedEx in a research note on Wednesday, December 20th. Citigroup restated a “buy” rating and set a $235.00 price target on shares of FedEx in a report on Thursday, September 14th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. Finally, Bank of America reiterated a “buy” rating and issued a $240.00 target price on shares of FedEx in a report on Wednesday, September 20th. One analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $259.58.
Shares of FedEx Co. (NYSE FDX) traded up $8.06 during trading on Tuesday, reaching $257.60. The company’s stock had a trading volume of 2,442,200 shares, compared to its average volume of 1,730,000. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. The stock has a market cap of $69,010.00, a PE ratio of 23.68, a P/E/G ratio of 1.51 and a beta of 1.36. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $257.60.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the company earned $2.80 EPS. sell-side analysts forecast that FedEx Co. will post 12.96 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.78%. FedEx’s dividend payout ratio is presently 18.38%.
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FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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