Suffolk Capital Management LLC trimmed its holdings in FedEx Co. (NYSE:FDX) by 8.9% during the 4th quarter, Holdings Channel reports. The firm owned 71,696 shares of the shipping service provider’s stock after selling 7,033 shares during the period. FedEx accounts for 2.3% of Suffolk Capital Management LLC’s holdings, making the stock its 7th biggest holding. Suffolk Capital Management LLC’s holdings in FedEx were worth $17,891,000 as of its most recent SEC filing.
A number of other large investors have also bought and sold shares of the business. Krilogy Financial LLC raised its position in shares of FedEx by 0.4% in the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the period. Salem Investment Counselors Inc. raised its position in shares of FedEx by 2.8% in the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the period. RNC Capital Management LLC raised its position in shares of FedEx by 0.8% in the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after acquiring an additional 15 shares during the period. High Falls Advisors Inc raised its position in shares of FedEx by 2.1% in the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock worth $244,000 after acquiring an additional 23 shares during the period. Finally, Sii Investments Inc. WI raised its position in shares of FedEx by 1.3% in the second quarter. Sii Investments Inc. WI now owns 3,402 shares of the shipping service provider’s stock worth $739,000 after acquiring an additional 45 shares during the period. 75.94% of the stock is currently owned by institutional investors.
In related news, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the sale, the director now directly owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 53,541 shares of company stock valued at $13,692,142. 8.45% of the stock is owned by corporate insiders.
A number of research analysts have weighed in on the stock. Oppenheimer reiterated a “buy” rating and issued a $265.00 price objective (up previously from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. BMO Capital Markets reiterated a “buy” rating and issued a $300.00 price objective on shares of FedEx in a research report on Monday, January 8th. Sanford C. Bernstein set a $212.00 price objective on shares of FedEx and gave the stock a “hold” rating in a research report on Wednesday, November 15th. Finally, Bank of America reiterated a “buy” rating and issued a $315.00 price objective on shares of FedEx in a research report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, twenty-three have issued a buy rating and one has given a strong buy rating to the company. The company has an average rating of “Buy” and an average target price of $272.69.
Shares of FedEx Co. (FDX) opened at $244.19 on Friday. FedEx Co. has a one year low of $182.89 and a one year high of $274.66. The stock has a market cap of $65,416.06, a PE ratio of 19.87, a P/E/G ratio of 1.42 and a beta of 1.30. The company has a debt-to-equity ratio of 0.89, a quick ratio of 1.50 and a current ratio of 1.57.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same quarter in the prior year, the company earned $2.80 EPS. FedEx’s revenue was up 9.4% compared to the same quarter last year. equities analysts expect that FedEx Co. will post 13.45 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 12th. Investors of record on Monday, April 2nd will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.82%. FedEx’s dividend payout ratio is presently 18.43%.
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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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