First Midwest Bank Trust Division purchased a new position in shares of FedEx Co. (NYSE:FDX) during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,478 shares of the shipping service provider’s stock, valued at approximately $215,000.
Several other institutional investors and hedge funds have also made changes to their positions in FDX. Parnassus Investments CA increased its stake in shares of FedEx by 2,614.2% during the 2nd quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock worth $574,644,000 after purchasing an additional 3,370,929 shares during the last quarter. BlackRock Inc. increased its stake in shares of FedEx by 9.5% during the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after purchasing an additional 1,395,988 shares during the last quarter. Nuveen Asset Management LLC boosted its holdings in shares of FedEx by 11,911.3% during the 2nd quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock worth $183,645,000 after buying an additional 1,109,177 shares during the period. ANTIPODES PARTNERS Ltd bought a new stake in shares of FedEx during the 2nd quarter worth $84,956,000. Finally, Packer & Co Ltd boosted its holdings in shares of FedEx by 269.9% during the 2nd quarter. Packer & Co Ltd now owns 659,800 shares of the shipping service provider’s stock worth $29,289,000 after buying an additional 481,416 shares during the period. Institutional investors own 71.33% of the company’s stock.
Several analysts recently issued reports on the stock. Wolfe Research set a $184.00 price objective on shares of FedEx and gave the stock a “buy” rating in a report on Wednesday, September 18th. DZ Bank reaffirmed a “sell” rating on shares of FedEx in a report on Wednesday, September 18th. Berenberg Bank set a $155.00 price objective on shares of FedEx and gave the stock a “hold” rating in a report on Friday, October 11th. Edward Jones downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, Morgan Stanley decreased their price objective on shares of FedEx from $131.00 to $120.00 and set an “equal weight” rating for the company in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have issued a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $171.64.
In other FedEx news, Director R Brad Martin acquired 1,000 shares of FedEx stock in a transaction dated Friday, September 27th. The stock was bought at an average cost of $145.00 per share, with a total value of $145,000.00. Following the acquisition, the director now owns 49,046 shares of the company’s stock, valued at $7,111,670. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, valued at $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is owned by corporate insiders.
Shares of FedEx stock opened at $149.91 on Monday. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. FedEx Co. has a fifty-two week low of $137.78 and a fifty-two week high of $234.49. The firm has a fifty day moving average price of $152.91 and a two-hundred day moving average price of $165.90. The company has a market cap of $39.32 billion, a PE ratio of 9.66, a price-to-earnings-growth ratio of 1.04 and a beta of 1.72.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The company had revenue of $17.05 billion during the quarter, compared to the consensus estimate of $17.05 billion. During the same period last year, the company earned $3.46 earnings per share. FedEx’s revenue for the quarter was up .0% on a year-over-year basis. Analysts expect that FedEx Co. will post 12.11 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, October 1st. Shareholders of record on Monday, September 9th were issued a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date of this dividend was Friday, September 6th. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
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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