UMB Bank n.a. trimmed its stake in shares of FedEx Co. (NYSE:FDX – Get Rating) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 18,301 shares of the shipping service provider’s stock after selling 399 shares during the quarter. UMB Bank n.a.’s holdings in FedEx were worth $4,182,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Lakewood Asset Management LLC bought a new position in shares of FedEx in the fourth quarter valued at approximately $26,000. CenterStar Asset Management LLC bought a new position in FedEx in the 4th quarter valued at $29,000. My Personal CFO LLC purchased a new position in shares of FedEx during the 4th quarter valued at $31,000. Householder Group Estate & Retirement Specialist LLC increased its holdings in shares of FedEx by 163.9% in the fourth quarter. Householder Group Estate & Retirement Specialist LLC now owns 190 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 118 shares during the period. Finally, Sound Income Strategies LLC raised its position in shares of FedEx by 1,957.1% in the first quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock worth $33,000 after buying an additional 137 shares in the last quarter. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages have weighed in on FDX. Loop Capital upped their target price on FedEx from $241.00 to $263.00 in a research note on Thursday, April 6th. BMO Capital Markets lifted their target price on shares of FedEx from $235.00 to $260.00 in a research report on Thursday, April 6th. Barclays increased their price target on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, March 17th. The Goldman Sachs Group lifted their price objective on shares of FedEx from $250.00 to $258.00 and gave the stock a “buy” rating in a report on Thursday, April 6th. Finally, Stifel Nicolaus raised their price target on FedEx from $242.00 to $264.00 in a research report on Thursday, April 6th. Ten investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $244.21.
FedEx Stock Performance
Shares of FDX opened at $231.79 on Wednesday. FedEx Co. has a one year low of $141.92 and a one year high of $248.76. The company has a 50-day simple moving average of $226.93 and a two-hundred day simple moving average of $208.40. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.32 and a quick ratio of 1.27. The firm has a market capitalization of $58.26 billion, a PE ratio of 20.02, a price-to-earnings-growth ratio of 1.06 and a beta of 1.33.
FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share for the quarter, beating the consensus estimate of $4.85 by $0.09. The company had revenue of $21.93 billion for the quarter, compared to analyst estimates of $22.55 billion. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The firm’s revenue was down 10.1% on a year-over-year basis. During the same period in the previous year, the company posted $6.87 earnings per share. On average, analysts anticipate that FedEx Co. will post 14.89 EPS for the current fiscal year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Investors of record on Monday, June 12th will be given a dividend of $1.26 per share. This is a boost from FedEx’s previous quarterly dividend of $1.15. This represents a $5.04 dividend on an annualized basis and a yield of 2.17%. The ex-dividend date is Friday, June 9th. FedEx’s dividend payout ratio (DPR) is 43.52%.
Insider Buying and Selling
In other news, CEO Frederick W. Smith sold 131,755 shares of FedEx stock in a transaction that occurred on Tuesday, April 11th. The shares were sold at an average price of $232.21, for a total transaction of $30,594,828.55. Following the completion of the transaction, the chief executive officer now directly owns 14,459,759 shares in the company, valued at $3,357,700,637.39. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO Frederick W. Smith sold 131,755 shares of the stock in a transaction on Tuesday, April 11th. The stock was sold at an average price of $232.21, for a total value of $30,594,828.55. Following the sale, the chief executive officer now directly owns 14,459,759 shares of the company’s stock, valued at $3,357,700,637.39. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Stephen E. Gorman purchased 1,080 shares of the stock in a transaction dated Wednesday, April 12th. The stock was bought at an average cost of $230.75 per share, with a total value of $249,210.00. Following the transaction, the director now owns 1,258 shares in the company, valued at $290,283.50. The disclosure for this purchase can be found here. Insiders have sold 146,486 shares of company stock valued at $34,001,009 over the last quarter. Corporate insiders own 8.62% of the company’s stock.
About FedEx
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.
Recommended Stories
Receive News & Ratings for FedEx Daily – Enter your email address below to receive a concise daily summary of the latest news and analysts’ ratings for FedEx and related companies with MarketBeat.com’s FREE daily email newsletter.
ABMN Staff
Source link
