Victory Capital Management Inc. grew its holdings in shares of FedEx Co. (NYSE:FDX – Get Rating) by 29.4% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 282,257 shares of the shipping service provider’s stock after purchasing an additional 64,143 shares during the period. Victory Capital Management Inc. owned about 0.11% of FedEx worth $41,907,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Wedbush Securities Inc. lifted its holdings in shares of FedEx by 26.7% during the 3rd quarter. Wedbush Securities Inc. now owns 8,998 shares of the shipping service provider’s stock worth $1,336,000 after acquiring an additional 1,898 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of FedEx by 33.6% during the 2nd quarter. Ritholtz Wealth Management now owns 1,273 shares of the shipping service provider’s stock worth $289,000 after acquiring an additional 320 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of FedEx by 12.4% during the 3rd quarter. Janney Montgomery Scott LLC now owns 112,949 shares of the shipping service provider’s stock worth $16,770,000 after acquiring an additional 12,455 shares during the period. Raymond James & Associates lifted its holdings in shares of FedEx by 5.8% during the 3rd quarter. Raymond James & Associates now owns 348,770 shares of the shipping service provider’s stock worth $51,784,000 after acquiring an additional 19,145 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in shares of FedEx by 14.3% during the 3rd quarter. Benjamin Edwards Inc. now owns 2,697 shares of the shipping service provider’s stock worth $400,000 after acquiring an additional 337 shares during the period. Institutional investors and hedge funds own 72.02% of the company’s stock.
FedEx Trading Up 1.4 %
NYSE:FDX opened at $186.88 on Friday. The company has a current ratio of 1.30, a quick ratio of 1.25 and a debt-to-equity ratio of 0.83. The stock has a market capitalization of $47.17 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 1.16 and a beta of 1.31. The firm has a fifty day simple moving average of $178.01 and a two-hundred day simple moving average of $187.90. FedEx Co. has a 12 month low of $141.92 and a 12 month high of $256.49.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th were issued a dividend of $1.15 per share. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date was Friday, December 9th. FedEx’s dividend payout ratio is currently 36.14%.
In other FedEx news, Director Amy B. Lane acquired 280 shares of FedEx stock in a transaction dated Tuesday, January 3rd. The stock was purchased at an average cost of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the acquisition, the director now directly owns 1,529 shares of the company’s stock, valued at $268,844.07. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 8.62% of the company’s stock.
Analysts Set New Price Targets
Several equities analysts recently commented on FDX shares. TheStreet downgraded shares of FedEx from a “b-” rating to a “c+” rating in a research note on Wednesday, October 12th. Evercore ISI dropped their price objective on shares of FedEx from $225.00 to $202.00 and set an “outperform” rating for the company in a research note on Monday, December 19th. Barclays set a $240.00 price objective on shares of FedEx in a research note on Monday, January 2nd. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FedEx from $190.00 to $217.00 in a research note on Monday, November 28th. Finally, Citigroup increased their price objective on shares of FedEx from $165.00 to $190.00 in a research note on Friday, December 2nd. Thirteen investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, FedEx has an average rating of “Hold” and a consensus target price of $205.52.
FedEx Company Profile
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.
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