Institute for Wealth Management LLC. acquired a new position in shares of FedEx Co. (NYSE:FDX) during the 4th quarter, HoldingsChannel reports. The fund acquired 9,615 shares of the shipping service provider’s stock, valued at approximately $2,379,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Prudential PLC raised its holdings in shares of FedEx by 25.8% during the 2nd quarter. Prudential PLC now owns 52,403 shares of the shipping service provider’s stock worth $11,389,000 after acquiring an additional 10,753 shares in the last quarter. Sirios Capital Management L P raised its holdings in shares of FedEx by 12.3% during the 3rd quarter. Sirios Capital Management L P now owns 589,149 shares of the shipping service provider’s stock worth $132,901,000 after acquiring an additional 64,637 shares in the last quarter. BlueCrest Capital Management Ltd raised its holdings in shares of FedEx by 128.9% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 31,042 shares of the shipping service provider’s stock worth $6,746,000 after acquiring an additional 17,478 shares in the last quarter. Hartwell J M Limited Partnership purchased a new stake in shares of FedEx during the 4th quarter worth approximately $4,396,000. Finally, Nomura Holdings Inc. raised its holdings in shares of FedEx by 2,077.8% during the 2nd quarter. Nomura Holdings Inc. now owns 52,594 shares of the shipping service provider’s stock worth $11,439,000 after acquiring an additional 50,179 shares in the last quarter. 74.01% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director David P. Steiner sold 3,016 shares of the stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now owns 16,040 shares of the company’s stock, valued at approximately $4,267,442. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Carter sold 3,970 shares of the stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total value of $995,398.10. Following the transaction, the executive vice president now directly owns 187,025 shares in the company, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders have sold a total of 53,541 shares of company stock worth $13,692,142 in the last three months. Corporate insiders own 8.45% of the company’s stock.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. The company had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.56% and a net margin of 4.74%. FedEx’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.80 EPS. equities research analysts expect that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.79%. The ex-dividend date is Friday, March 9th. FedEx’s payout ratio is 18.43%.
FDX has been the topic of several recent research reports. Stephens set a $306.00 price target on FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. Goldman Sachs Group initiated coverage on FedEx in a report on Monday, November 13th. They set a “buy” rating and a $270.00 price target on the stock. Citigroup restated a “buy” rating and set a $280.00 price target on shares of FedEx in a report on Wednesday, December 20th. Robert W. Baird restated a “buy” rating and set a $280.00 price target on shares of FedEx in a report on Tuesday, January 9th. Finally, Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. FedEx has an average rating of “Buy” and an average target price of $275.04.
FedEx Company Profile
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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
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.