Coatue Management LLC increased its stake in FedEx Co. (NYSE:FDX) by 40.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,512 shares of the shipping service provider’s stock after buying an additional 728 shares during the period. Coatue Management LLC’s holdings in FedEx were worth $352,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of FDX. Retirement Network increased its stake in shares of FedEx by 76.9% in the first quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock worth $25,000 after buying an additional 90 shares during the last quarter. NewSquare Capital LLC increased its stake in shares of FedEx by 215.4% in the first quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock worth $25,000 after buying an additional 140 shares during the last quarter. Truvestments Capital LLC bought a new stake in shares of FedEx in the first quarter worth $27,000. Selective Wealth Management Inc. bought a new stake in shares of FedEx in the second quarter worth $28,000. Finally, Hoover Financial Advisors Inc. bought a new stake in shares of FedEx in the second quarter worth $28,000. Institutional investors and hedge funds own 71.65% of the company’s stock.
NYSE FDX traded up $5.15 on Friday, reaching $226.12. The company’s stock had a trading volume of 2,844,214 shares, compared to its average volume of 3,532,930. FedEx Co. has a twelve month low of $88.69 and a twelve month high of $231.58. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.58. The stock has a market cap of $59.24 billion, a PE ratio of 46.24, a PEG ratio of 1.81 and a beta of 1.48. The firm’s 50 day moving average is $190.83 and its two-hundred day moving average is $145.07.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.42 by $1.11. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The company had revenue of $17.36 billion during the quarter, compared to the consensus estimate of $16.54 billion. During the same period in the prior year, the company earned $5.01 EPS. FedEx’s revenue was down 2.5% on a year-over-year basis. Equities research analysts anticipate that FedEx Co. will post 10.46 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Thursday, September 3rd. FedEx’s payout ratio is 27.37%.
In other FedEx news, EVP Brie Carere sold 1,307 shares of the company’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $202.60, for a total transaction of $264,798.20. Following the completion of the sale, the executive vice president now directly owns 11,481 shares of the company’s stock, valued at $2,326,050.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Robert B. Carter sold 21,480 shares of the company’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $157.53, for a total transaction of $3,383,744.40. Following 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. Insiders sold a total of 44,058 shares of company stock valued at $7,149,678 over the last three months. 8.49% of the stock is owned by corporate insiders.
Several analysts have weighed in on FDX shares. UBS Group boosted their target price on shares of FedEx from $181.00 to $218.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Sanford C. Bernstein upgraded shares of FedEx from a “market perform” rating to an “outperform” rating and set a $225.00 target price for the company in a research note on Monday, August 10th. Daiwa Capital Markets boosted their target price on shares of FedEx from $104.00 to $147.00 and gave the company a “neutral” rating in a research note on Thursday, June 11th. Argus upgraded shares of 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. Finally, Goldman Sachs Group boosted their target price on shares of FedEx from $169.00 to $223.00 and gave the company a “buy” rating in a research note on Friday, August 21st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating and eighteen have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $183.24.
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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