PagnatoKarp Partners LLC acquired a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 2,063 shares of the shipping service provider’s stock, valued at approximately $385,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Creative Planning raised its stake in shares of FedEx by 10.3% in the third quarter. Creative Planning now owns 13,291 shares of the shipping service provider’s stock worth $2,322,000 after buying an additional 1,240 shares during the last quarter. Capstone Asset Management Co. raised its stake in shares of FedEx by 6.8% in the third quarter. Capstone Asset Management Co. now owns 25,037 shares of the shipping service provider’s stock worth $4,373,000 after buying an additional 1,593 shares during the last quarter. Highland Capital Management LLC raised its stake in shares of FedEx by 1.3% in the third quarter. Highland Capital Management LLC now owns 63,250 shares of the shipping service provider’s stock worth $11,049,000 after buying an additional 794 shares during the last quarter. Hennessy Advisors Inc. raised its stake in shares of FedEx by 721.3% in the third quarter. Hennessy Advisors Inc. now owns 115,800 shares of the shipping service provider’s stock worth $20,228,000 after buying an additional 101,700 shares during the last quarter. Finally, Private Trust Co. NA raised its stake in shares of FedEx by 0.3% in the third quarter. Private Trust Co. NA now owns 7,364 shares of the shipping service provider’s stock worth $1,286,000 after buying an additional 22 shares during the last quarter. 75.22% of the stock is currently owned by institutional investors.
FedEx Co. (NYSE:FDX) opened at 188.12 on Friday. The stock has a 50 day moving average price of $192.34 and a 200 day moving average price of $184.38. FedEx Co. has a 12-month low of $145.00 and a 12-month high of $201.57. The company has a market capitalization of $50.14 billion, a price-to-earnings ratio of 27.64 and a beta of 1.14.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $2.62 by $0.27. FedEx had a return on equity of 22.02% and a net margin of 3.35%. The company earned $15 billion during the quarter, compared to analysts’ expectations of $15 billion. During the same quarter last year, the business earned $2.51 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. On average, analysts expect that FedEx Co. will post $12.00 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be issued a $0.40 dividend. The ex-dividend date is Thursday, March 9th. This represents a $1.60 annualized dividend and a yield of 0.85%. FedEx’s dividend payout ratio (DPR) is presently 23.46%.
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A number of analysts recently commented on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $220.00 target price on shares of FedEx in a research report on Thursday. Robert W. Baird boosted their target price on FedEx from $209.00 to $222.00 and gave the company an “outperform” rating in a research report on Thursday. Raymond James Financial, Inc. reaffirmed an “outperform” rating on shares of FedEx in a research report on Thursday. Stifel Nicolaus boosted their target price on FedEx from $189.00 to $194.00 and gave the company a “hold” rating in a research report on Wednesday. Finally, JPMorgan Chase & Co. boosted their target price on FedEx to $236.00 in a research report on Wednesday. Five investment analysts have rated the stock with a hold rating and eighteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $203.85.
In other FedEx news, EVP Robert B. Carter sold 34,580 shares of the firm’s stock in a transaction dated Wednesday, January 25th. The shares were sold at an average price of $191.22, for a total value of $6,612,387.60. Following the completion of the sale, the executive vice president now directly owns 77,062 shares in the company, valued at $14,735,795.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 8.67% of the company’s stock.
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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