Meitav Dash Investments Ltd. raised its stake in FedEx Co. (NYSE:FDX) by 33.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,249 shares of the shipping service provider’s stock after buying an additional 2,839 shares during the period. Meitav Dash Investments Ltd.’s holdings in FedEx were worth $1,557,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in FDX. Parnassus Investments CA increased its holdings in FedEx by 47.0% in the 1st quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock worth $744,091,000 after buying an additional 1,960,883 shares during the period. Invesco Ltd. lifted its holdings in FedEx by 212.2% in the first quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock valued at $256,592,000 after acquiring an additional 1,438,225 shares during the period. Advisor Group Holdings Inc. purchased a new stake in FedEx in the 1st quarter worth approximately $10,618,000. Greenhaven Associates Inc. acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $112,871,000. Finally, BlackRock Inc. increased its holdings in shares of FedEx by 3.9% during the 1st quarter. BlackRock Inc. now owns 17,395,107 shares of the shipping service provider’s stock valued at $2,109,329,000 after purchasing an additional 645,024 shares in the last quarter. 73.89% of the stock is owned by institutional investors.
A number of research firms have weighed in on FDX. BMO Capital Markets lifted their price objective on shares of FedEx from $130.00 to $150.00 and gave the company a “market perform” rating in a report on Wednesday, July 1st. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $145.00 to $188.00 in a research note on Wednesday, July 1st. Wells Fargo & Co increased their price target on FedEx from $179.00 to $221.00 and gave the stock an “overweight” rating in a research report on Friday, August 14th. Goldman Sachs Group raised their price objective on FedEx from $153.00 to $169.00 and gave the company a “conviction-buy” rating in a report on Wednesday, July 1st. Finally, Argus raised FedEx from a “hold” rating to a “buy” rating and set a $185.00 target price for the company in a research note on Monday, July 6th. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, sixteen have issued a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $171.60.
FedEx stock traded up $0.37 during mid-day trading on Thursday, hitting $208.25. The company’s stock had a trading volume of 54,957 shares, compared to its average volume of 3,539,493. The stock’s fifty day moving average is $171.31 and its two-hundred day moving average is $139.86. The company has a current ratio of 1.58, a quick ratio of 1.53 and a debt-to-equity ratio of 1.87. The firm has a market capitalization of $54.23 billion, a PE ratio of 42.69, a price-to-earnings-growth ratio of 1.66 and a beta of 1.38. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $211.56.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share for the quarter, topping analysts’ consensus estimates of $1.42 by $1.11. The business had revenue of $17.36 billion during the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The company’s revenue was down 2.5% compared to the same quarter last year. During the same period in the prior year, the business posted $5.01 EPS. On average, equities analysts expect that FedEx Co. will post 10.39 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.25%. The ex-dividend date of this dividend is Thursday, September 3rd. FedEx’s dividend payout ratio (DPR) is presently 27.37%.
In other news, EVP Brie Carere sold 1,307 shares of the firm’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $202.60, for a total transaction of $264,798.20. Following the completion of the transaction, the executive vice president now directly owns 11,481 shares in the company, valued at $2,326,050.60. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 21,480 shares of FedEx stock in a transaction on Wednesday, July 8th. The shares were sold at an average price of $157.53, for a total value of $3,383,744.40. Following the completion of the sale, the executive vice president now directly owns 74,366 shares of the company’s stock, valued at $11,714,875.98. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 44,058 shares of company stock valued at $7,149,678. Company insiders own 8.49% of the company’s stock.
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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