Gateway Investment Advisers LLC lessened its position in shares of FedEx Co. (NYSE:FDX – Get Rating) by 9.9% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,439 shares of the shipping service provider’s stock after selling 378 shares during the quarter. Gateway Investment Advisers LLC’s holdings in FedEx were worth $780,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in the company. Allied Investment Advisors LLC grew its holdings in FedEx by 2.7% during the 2nd quarter. Allied Investment Advisors LLC now owns 31,387 shares of the shipping service provider’s stock valued at $7,116,000 after buying an additional 829 shares in the last quarter. Carnegie Capital Asset Management LLC grew its holdings in FedEx by 10.0% during the 2nd quarter. Carnegie Capital Asset Management LLC now owns 22,284 shares of the shipping service provider’s stock valued at $6,648,000 after buying an additional 2,017 shares in the last quarter. ACG Wealth grew its holdings in FedEx by 6.1% during the 2nd quarter. ACG Wealth now owns 25,363 shares of the shipping service provider’s stock valued at $5,755,000 after buying an additional 1,453 shares in the last quarter. Allworth Financial LP grew its holdings in FedEx by 13.1% during the 2nd quarter. Allworth Financial LP now owns 4,094 shares of the shipping service provider’s stock valued at $928,000 after buying an additional 475 shares in the last quarter. Finally, Parkside Investments LLC grew its holdings in FedEx by 20.1% during the 2nd quarter. Parkside Investments LLC now owns 52,731 shares of the shipping service provider’s stock valued at $11,954,000 after buying an additional 8,837 shares in the last quarter. Hedge funds and other institutional investors own 71.62% of the company’s stock.
Insider Transactions at FedEx
In other news, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $228.85, for a total value of $2,571,129.75. Following the completion of the transaction, the executive vice president now directly owns 16,366 shares of the company’s stock, valued at approximately $3,745,359.10. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, EVP Brie Carere sold 11,235 shares of the business’s stock in a transaction on Friday, August 12th. The stock was sold at an average price of $228.85, for a total transaction of $2,571,129.75. Following the transaction, the executive vice president now directly owns 16,366 shares in the company, valued at approximately $3,745,359.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Amy B. Lane bought 607 shares of the company’s stock in a transaction that occurred on Thursday, June 30th. The shares were acquired at an average price of $228.12 per share, for a total transaction of $138,468.84. Following the completion of the purchase, the director now owns 686 shares in the company, valued at $156,490.32. The disclosure for this purchase can be found here. In the last three months, insiders sold 48,810 shares of company stock valued at $11,199,898. Corporate insiders own 8.62% of the company’s stock.
FedEx Trading Down 3.4 %
Shares of NYSE FDX opened at $149.33 on Friday. The company has a quick ratio of 1.38, a current ratio of 1.43 and a debt-to-equity ratio of 0.81. The business has a fifty day simple moving average of $214.78 and a two-hundred day simple moving average of $216.06. The firm has a market cap of $38.81 billion, a PE ratio of 10.44, a price-to-earnings-growth ratio of 0.73 and a beta of 1.21. FedEx Co. has a twelve month low of $146.65 and a twelve month high of $266.79.
FedEx (NYSE:FDX – Get Rating) last issued its earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The firm had revenue of $23.20 billion for the quarter, compared to the consensus estimate of $23.78 billion. FedEx had a net margin of 4.09% and a return on equity of 22.29%. The company’s revenue for the quarter was up 5.4% on a year-over-year basis. During the same period last year, the firm earned $4.37 earnings per share. Analysts expect that FedEx Co. will post 16.55 earnings per share for the current fiscal year.
FedEx Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Friday, September 2nd will be given a $1.15 dividend. This represents a $4.60 annualized dividend and a dividend yield of 3.08%. The ex-dividend date is Thursday, September 1st. FedEx’s payout ratio is 32.17%.
Wall Street Analysts Forecast Growth
A number of brokerages have recently commented on FDX. Morgan Stanley dropped their target price on FedEx from $255.00 to $250.00 in a report on Wednesday, September 7th. Cowen dropped their target price on FedEx from $230.00 to $185.00 and set an “outperform” rating for the company in a report on Friday. Credit Suisse Group dropped their target price on FedEx from $246.00 to $236.00 and set an “outperform” rating for the company in a report on Friday. Cowen dropped their target price on FedEx from $230.00 to $185.00 in a report on Friday. Finally, Stephens dropped their target price on FedEx from $295.00 to $200.00 in a report on Friday. Ten analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $221.64.
FedEx Company Profile
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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 enablement, technology, and e-commerce transportation solutions.
Further Reading
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