City Holding Co. lowered its position in FedEx Co. (NYSE:FDX) by 37.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 230 shares of the shipping service provider’s stock after selling 136 shares during the period. City Holding Co.’s holdings in FedEx were worth $60,000 as of its most recent filing with the SEC.
Several other institutional investors also recently added to or reduced their stakes in FDX. Allianz Asset Management GmbH lifted its position in shares of FedEx by 8,151.1% during the 3rd quarter. Allianz Asset Management GmbH now owns 815,578 shares of the shipping service provider’s stock valued at $205,135,000 after acquiring an additional 825,708 shares during the period. FMR LLC lifted its position in shares of FedEx by 16.8% during the 2nd quarter. FMR LLC now owns 4,945,173 shares of the shipping service provider’s stock valued at $693,412,000 after acquiring an additional 711,755 shares during the period. Platinum Investment Management Ltd. lifted its position in shares of FedEx by 128.3% during the 3rd quarter. Platinum Investment Management Ltd. now owns 722,306 shares of the shipping service provider’s stock valued at $181,674,000 after acquiring an additional 405,985 shares during the period. Candlestick Capital Management LP acquired a new position in shares of FedEx during the 3rd quarter valued at $96,645,000. Finally, Lord Abbett & CO. LLC acquired a new position in shares of FedEx during the 3rd quarter valued at $69,483,000. Institutional investors own 68.36% of the company’s stock.
A number of research firms recently issued reports on FDX. Smith Barney Citigroup boosted their target price on shares of FedEx from $300.00 to $365.00 in a research report on Thursday, December 3rd. Barclays upgraded shares of FedEx from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $240.00 to $360.00 in a report on Tuesday, December 1st. JPMorgan Chase & Co. set a $350.00 price objective on shares of FedEx and gave the stock a “buy” rating in a report on Thursday, December 24th. Oppenheimer restated a “hold” rating on shares of FedEx in a report on Friday, December 18th. Finally, Sanford C. Bernstein restated a “buy” rating and set a $308.00 price objective on shares of FedEx in a report on Wednesday, December 2nd. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company. FedEx has a consensus rating of “Buy” and a consensus target price of $312.00.
NYSE FDX opened at $252.22 on Thursday. The firm has a market cap of $66.86 billion, a price-to-earnings ratio of 27.45, a PEG ratio of 1.33 and a beta of 1.34. The company has a fifty day moving average price of $274.18 and a 200-day moving average price of $237.45. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.76 and a quick ratio of 1.71. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $305.66.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.01 by $0.82. The company had revenue of $20.56 billion during the quarter, compared to analyst estimates of $19.45 billion. FedEx had a net margin of 3.28% and a return on equity of 18.65%. The firm’s revenue for the quarter was up 18.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.51 earnings per share. On average, research analysts anticipate that FedEx Co. will post 17.02 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, December 28th. Investors of record on Monday, December 14th were given a dividend of $0.65 per share. The ex-dividend date was Friday, December 11th. This represents a $2.60 annualized dividend and a yield of 1.03%. FedEx’s payout ratio is currently 27.37%.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers 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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