Ingalls & Snyder LLC trimmed its position in FedEx Co. (NYSE:FDX) by 44.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,520 shares of the shipping service provider’s stock after selling 14,836 shares during the period. Ingalls & Snyder LLC’s holdings in FedEx were worth $2,800,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. BlackRock Inc. raised its holdings in FedEx by 9.5% during the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after acquiring an additional 1,395,988 shares in the last quarter. Nuveen Asset Management LLC raised its holdings in FedEx by 11,911.3% during the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock worth $183,645,000 after acquiring an additional 1,109,177 shares in the last quarter. Parnassus Investments CA raised its holdings in FedEx by 17.1% during the third quarter. Parnassus Investments CA now owns 4,099,219 shares of the shipping service provider’s stock worth $596,723,000 after acquiring an additional 599,344 shares in the last quarter. ANTIPODES PARTNERS Ltd bought a new stake in FedEx during the second quarter worth about $84,956,000. Finally, Millennium Management LLC raised its holdings in FedEx by 2,287.7% during the third quarter. Millennium Management LLC now owns 531,046 shares of the shipping service provider’s stock worth $77,304,000 after acquiring an additional 508,805 shares in the last quarter. Institutional investors own 70.48% of the company’s stock.
Several research firms recently issued reports on FDX. Standpoint Research upgraded FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Berenberg Bank set a $155.00 target price on FedEx and gave the stock a “neutral” rating in a report on Monday, December 30th. Oppenheimer lowered FedEx from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 18th. UBS Group upgraded FedEx from a “sell” rating to a “neutral” rating and upped their target price for the stock from $132.00 to $161.00 in a report on Thursday, December 12th. Finally, DZ Bank reiterated a “sell” rating on shares of FedEx in a report on Wednesday, September 18th. Two analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and twelve have given a buy rating to the company’s stock. FedEx presently has an average rating of “Hold” and a consensus target price of $169.88.
Shares of NYSE:FDX opened at $159.15 on Thursday. The company has a market capitalization of $42.34 billion, a P/E ratio of 10.25, a P/E/G ratio of 1.25 and a beta of 1.68. FedEx Co. has a 1 year low of $137.78 and a 1 year high of $199.32. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.25 and a quick ratio of 1.20. The business’s 50 day simple moving average is $155.90 and its 200 day simple moving average is $157.63.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $2.78 by ($0.27). The company had revenue of $17.32 billion for the quarter, compared to analyst estimates of $17.69 billion. FedEx had a return on equity of 19.10% and a net margin of 0.11%. The company’s quarterly revenue was down 2.8% compared to the same quarter last year. During the same period in the prior year, the company earned $4.03 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 10.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 9th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date was Friday, December 6th. FedEx’s dividend payout ratio is currently 16.75%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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