Physicians Financial Services Inc. raised its stake in FedEx Co. (NYSE:FDX – Free Report) by 2.2% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 6,850 shares of the shipping service provider’s stock after buying an additional 150 shares during the quarter. Physicians Financial Services Inc.’s holdings in FedEx were worth $1,565,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in the stock. KB Financial Partners LLC acquired a new position in FedEx during the first quarter worth about $292,000. National Wealth Management Group LLC purchased a new position in FedEx during the 1st quarter valued at about $447,000. IMA Wealth Inc. grew its stake in FedEx by 20.3% during the 1st quarter. IMA Wealth Inc. now owns 711 shares of the shipping service provider’s stock valued at $162,000 after acquiring an additional 120 shares in the last quarter. Ancora Advisors LLC grew its stake in FedEx by 4.6% during the 1st quarter. Ancora Advisors LLC now owns 6,022 shares of the shipping service provider’s stock valued at $1,376,000 after acquiring an additional 266 shares in the last quarter. Finally, Caldwell Investment Management Ltd. bought a new stake in shares of FedEx in the 1st quarter valued at approximately $2,421,000. 73.61% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of equities research analysts have issued reports on FDX shares. Sanford C. Bernstein upped their target price on FedEx from $261.00 to $284.00 in a research report on Wednesday, June 21st. Argus raised their price target on FedEx from $240.00 to $260.00 in a report on Monday, June 26th. Deutsche Bank Aktiengesellschaft raised their price target on FedEx from $240.00 to $282.00 in a research report on Thursday, May 18th. Morgan Stanley raised their price target on FedEx from $186.00 to $200.00 and gave the company an “equal weight” rating in a research note on Friday, September 8th. Finally, Wells Fargo & Company lifted their target price on FedEx from $240.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Tuesday. Nine equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $249.50.
FedEx Stock Performance
Shares of FDX stock opened at $251.47 on Wednesday. The company’s 50 day moving average is $260.68 and its 200 day moving average is $237.25. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $270.95. The firm has a market cap of $63.25 billion, a price-to-earnings ratio of 16.22, a PEG ratio of 1.23 and a beta of 1.36.
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.09. FedEx had a net margin of 4.41% and a return on equity of 15.32%. The company had revenue of $21.93 billion during the quarter, compared to analysts’ expectations of $22.55 billion. During the same quarter in the prior year, the company earned $6.87 EPS. FedEx’s revenue was down 10.1% compared to the same quarter last year. On average, sell-side analysts anticipate that FedEx Co. will post 17.33 EPS for the current fiscal year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a $1.26 dividend. This represents a $5.04 annualized dividend and a dividend yield of 2.00%. The ex-dividend date of this dividend is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 32.52%.
Insider Transactions at FedEx
In other news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the sale, the executive vice president now owns 22,478 shares in the company, valued at approximately $5,886,538.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Michael C. Lenz sold 5,745 shares of FedEx stock in a transaction dated Thursday, July 20th. The shares were sold at an average price of $261.88, for a total transaction of $1,504,500.60. Following the completion of the sale, the executive vice president now directly owns 22,478 shares in the company, valued at $5,886,538.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares of the company’s stock, valued at $762,597.56. The disclosure for this sale can be found here. In the last quarter, insiders sold 35,816 shares of company stock worth $8,822,147. Company insiders own 8.73% of the company’s stock.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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