NorthCrest Asset Manangement LLC lowered its stake in FedEx Co. (NYSE:FDX – Get Rating) by 46.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,860 shares of the shipping service provider’s stock after selling 1,610 shares during the period. NorthCrest Asset Manangement LLC’s holdings in FedEx were worth $430,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently modified their holdings of FDX. Thrivent Financial for Lutherans grew its position in FedEx by 9.2% in the third quarter. Thrivent Financial for Lutherans now owns 14,435 shares of the shipping service provider’s stock valued at $3,168,000 after acquiring an additional 1,214 shares during the last quarter. Segall Bryant & Hamill LLC grew its position in FedEx by 36.2% in the third quarter. Segall Bryant & Hamill LLC now owns 1,691 shares of the shipping service provider’s stock valued at $371,000 after acquiring an additional 449 shares during the last quarter. Fulton Bank N.A. grew its position in FedEx by 8.2% in the fourth quarter. Fulton Bank N.A. now owns 3,135 shares of the shipping service provider’s stock valued at $811,000 after acquiring an additional 238 shares during the last quarter. Carroll Financial Associates Inc. grew its position in FedEx by 33.2% in the fourth quarter. Carroll Financial Associates Inc. now owns 6,186 shares of the shipping service provider’s stock valued at $1,585,000 after acquiring an additional 1,542 shares during the last quarter. Finally, Future Financial Wealth Managment LLC grew its position in FedEx by 5.7% in the fourth quarter. Future Financial Wealth Managment LLC now owns 925 shares of the shipping service provider’s stock valued at $239,000 after acquiring an additional 50 shares during the last quarter. Institutional investors own 79.92% of the company’s stock.
FDX has been the topic of a number of recent analyst reports. KeyCorp decreased their target price on FedEx from $325.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, March 14th. Credit Suisse Group boosted their price target on FedEx from $294.00 to $314.00 and gave the stock an “outperform” rating in a report on Monday. Robert W. Baird restated an “outperform” rating and set a $300.00 price target on shares of FedEx in a report on Monday, March 21st. StockNews.com cut FedEx from a “strong-buy” rating to a “buy” rating in a report on Tuesday, June 21st. Finally, JPMorgan Chase & Co. boosted their price target on FedEx from $279.00 to $284.00 and gave the stock an “overweight” rating in a report on Friday, June 24th. Three investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $298.95.
In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the business’s stock in a transaction that occurred on Thursday, April 14th. The stock was sold at an average price of $206.42, for a total value of $767,882.40. Following the transaction, the director now directly owns 14,000 shares of the company’s stock, valued at $2,889,880. The sale was disclosed in a legal filing with the SEC, which is available through this link. 8.16% of the stock is currently owned by insiders.
Shares of FDX opened at $233.81 on Thursday. FedEx Co. has a 52-week low of $192.82 and a 52-week high of $302.65. The company has a debt-to-equity ratio of 0.81, a quick ratio of 1.38 and a current ratio of 1.43. The business’s 50 day moving average price is $215.04 and its two-hundred day moving average price is $226.93. The firm has a market cap of $60.60 billion, a PE ratio of 16.35, a price-to-earnings-growth ratio of 0.87 and a beta of 1.31.
FedEx (NYSE:FDX – Get Rating) last issued its quarterly earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.80 by $0.07. FedEx had a return on equity of 22.29% and a net margin of 4.09%. During the same period last year, the firm earned $5.01 EPS. Research analysts predict that FedEx Co. will post 23.23 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 11th. Shareholders of record on Monday, June 27th will be paid a $1.15 dividend. The ex-dividend date of this dividend is Friday, June 24th. This is a positive change from FedEx’s previous quarterly dividend of $0.75. This represents a $4.60 annualized dividend and a yield of 1.97%. FedEx’s payout ratio is 32.17%.
FedEx Company Profile (Get Rating)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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