First Interstate Bank decreased its position in FedEx Co. (NYSE:FDX) by 1.1% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 29,187 shares of the shipping service provider’s stock after selling 319 shares during the period. FedEx accounts for 1.5% of First Interstate Bank’s investment portfolio, making the stock its 23rd biggest holding. First Interstate Bank’s holdings in FedEx were worth $7,283,000 at the end of the most recent quarter.
A number of other large investors have also recently bought and sold shares of FDX. Salem Investment Counselors Inc. grew its position in shares of FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the period. Krilogy Financial LLC grew its position in shares of FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the period. Cerebellum GP LLC bought a new position in shares of FedEx during the 4th quarter valued at approximately $125,000. Financial Engines Advisors L.L.C. bought a new position in shares of FedEx during the 3rd quarter valued at approximately $132,000. Finally, Massey Quick Simon & CO. LLC bought a new position in shares of FedEx during the 3rd quarter valued at approximately $136,000. Hedge funds and other institutional investors own 74.01% of the company’s stock.
FedEx Co. (NYSE:FDX) opened at $246.41 on Thursday. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89. FedEx Co. has a fifty-two week low of $182.89 and a fifty-two week high of $274.66. The company has a market cap of $66,634.86, a price-to-earnings ratio of 22.71, a price-to-earnings-growth ratio of 1.45 and a beta of 1.30.
The business also recently disclosed 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 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is currently 18.43%.
FDX has been the subject of several analyst reports. Oppenheimer reaffirmed a “buy” rating and issued a $265.00 price objective (up from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $300.00 price objective on shares of FedEx in a 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 report on Wednesday, November 15th. Finally, Bank of America reaffirmed a “buy” rating and issued a $315.00 price objective on shares of FedEx in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have issued a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $275.04.
In other news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction on 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 owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 53,541 shares of company stock worth $13,692,142. Corporate insiders own 8.45% of the company’s stock.
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.
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