Russell Investments Group Ltd. boosted its stake in FedEx Co. (NYSE:FDX) by 3.5% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 354,884 shares of the shipping service provider’s stock after acquiring an additional 12,085 shares during the quarter. Russell Investments Group Ltd. owned 0.13% of FedEx worth $80,053,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its position in shares of 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 buying an additional 492,840 shares in the last quarter. BlackRock Inc. raised its stake in shares of FedEx by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares during the last quarter. FMR LLC raised its stake in shares of FedEx by 0.3% during the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of FedEx by 0.4% during the second quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after purchasing an additional 13,383 shares during the last quarter. Finally, Capital World Investors raised its stake in shares of FedEx by 16.1% during the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares during the last quarter. Institutional investors and hedge funds own 75.74% of the company’s stock.
A number of research analysts recently weighed in on the company. Barclays reaffirmed an “overweight” rating and set a $270.00 price objective (up previously from $230.00) on shares of FedEx in a report on Thursday, November 30th. They noted that the move was a valuation call. Cowen reissued an “outperform” rating and issued a $240.00 target price on shares of FedEx in a report on Friday, October 13th. Oppenheimer reissued a “buy” rating and issued a $236.00 target price on shares of FedEx in a report on Friday, October 20th. J P Morgan Chase & Co upped their price objective on FedEx from $237.00 to $264.00 and gave the company an “overweight” rating in a research report on Thursday, October 12th. Finally, Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Monday, October 16th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $231.81.
FedEx Co. (FDX) traded down $3.65 during trading on Wednesday, hitting $235.40. The stock had a trading volume of 1,592,000 shares, compared to its average volume of 1,476,326. The stock has a market cap of $64,100.71, a P/E ratio of 20.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $243.06.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx had a return on equity of 20.69% and a net margin of 4.72%. The business’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.90 earnings per share. analysts expect that FedEx Co. will post 12.47 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. FedEx’s dividend payout ratio (DPR) is 18.87%.
In other news, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,371,344. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,094 shares of company stock worth $9,024,637. Company insiders own 8.45% of the company’s stock.
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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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