Dixon Hubard Feinour & Brown Inc. VA lessened its holdings in FedEx Co. (NYSE:FDX) by 1.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 32,485 shares of the shipping service provider’s stock after selling 590 shares during the quarter. FedEx makes up approximately 2.1% of Dixon Hubard Feinour & Brown Inc. VA’s holdings, making the stock its 10th biggest holding. Dixon Hubard Feinour & Brown Inc. VA’s holdings in FedEx were worth $7,328,000 at the end of the most recent quarter.
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.
Shares of FedEx Co. (FDX) traded up $8.06 during midday trading on Tuesday, hitting $257.60. The company had a trading volume of 2,442,200 shares, compared to its average volume of 1,730,000. The company has a current ratio of 1.57, a quick ratio of 1.50 and a debt-to-equity ratio of 0.89. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $257.60. The stock has a market cap of $69,010.00, a PE ratio of 23.68, a price-to-earnings-growth ratio of 1.51 and a beta of 1.36.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company had revenue of $16.30 billion for the quarter, compared to analyst estimates of $15.67 billion. During the same period in the previous year, the company posted $2.80 earnings per share. The firm’s revenue was up 9.4% on a year-over-year basis. sell-side analysts anticipate that FedEx Co. will post 12.96 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.78%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio is currently 18.38%.
A number of research firms recently commented on FDX. Cowen reaffirmed an “outperform” rating and issued a $240.00 price target 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 investment analyst has rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $259.58.
In other 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 completion of the transaction, the executive vice president now owns 187,025 shares in the company, valued at $46,892,778.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the sale, 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 sold 19,100 shares of company stock valued at $4,440,416 in the last 90 days. Company insiders own 8.45% of the company’s stock.
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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