Moody National Bank Trust Division lessened its position in FedEx Co. (NYSE:FDX – Get Rating) by 11.4% in the first quarter, HoldingsChannel reports. The firm owned 7,523 shares of the shipping service provider’s stock after selling 964 shares during the quarter. Moody National Bank Trust Division’s holdings in FedEx were worth $1,741,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. Dodge & Cox lifted its stake in shares of FedEx by 22.2% in the 4th quarter. Dodge & Cox now owns 16,674,920 shares of the shipping service provider’s stock valued at $4,312,801,000 after purchasing an additional 3,031,046 shares during the period. Norges Bank purchased a new position in FedEx during the fourth quarter valued at $593,029,000. Nordea Investment Management AB raised its stake in FedEx by 39.2% during the fourth quarter. Nordea Investment Management AB now owns 1,148,723 shares of the shipping service provider’s stock valued at $295,463,000 after buying an additional 323,340 shares during the last quarter. Southeastern Asset Management Inc. TN raised its stake in FedEx by 26.0% during the fourth quarter. Southeastern Asset Management Inc. TN now owns 1,447,324 shares of the shipping service provider’s stock valued at $374,336,000 after buying an additional 298,865 shares during the last quarter. Finally, Manning & Napier Group LLC purchased a new position in FedEx during the fourth quarter valued at $74,326,000. Institutional investors own 79.92% of the company’s stock.
In other FedEx news, Director Paul S. Walsh sold 3,720 shares of the business’s stock in a transaction dated Thursday, April 14th. The stock was sold at an average price of $206.42, for a total transaction of $767,882.40. Following the completion of the sale, the director now owns 14,000 shares of the company’s stock, valued at $2,889,880. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 8.16% of the company’s stock.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 11th. Investors of record on Monday, June 27th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, June 24th. This represents a $4.60 annualized dividend and a dividend yield of 2.01%. This is a positive change from FedEx’s previous quarterly dividend of $0.75. FedEx’s payout ratio is presently 15.75%.
FDX has been the subject of a number of recent research reports. Credit Suisse Group set a $294.00 price objective on FedEx in a research note on Friday, March 18th. Berenberg Bank set a $330.00 price objective on FedEx in a research note on Friday, May 27th. KeyCorp lowered their price objective on FedEx from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, March 14th. The Goldman Sachs Group decreased their price target on FedEx from $331.00 to $291.00 and set a “buy” rating for the company in a research note on Tuesday, June 7th. Finally, Robert W. Baird restated an “outperform” rating and issued a $300.00 price target on shares of FedEx in a research note on Monday, March 21st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $298.30.
FedEx Profile (Get Rating)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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