Charles Schwab Investment Management Inc. lessened its holdings in FedEx Co. (NYSE:FDX) by 0.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,644,490 shares of the shipping service provider’s stock after selling 4,866 shares during the period. Charles Schwab Investment Management Inc. owned approximately 0.63% of FedEx worth $230,591,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors have also made changes to their positions in FDX. NewSquare Capital LLC lifted its stake in shares of FedEx by 215.4% in the 1st quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock valued at $25,000 after purchasing an additional 140 shares during the last quarter. Truvestments Capital LLC acquired a new position in FedEx during the 1st quarter worth about $27,000. Selective Wealth Management Inc. acquired a new position in FedEx during the 2nd quarter worth about $28,000. Hoover Financial Advisors Inc. acquired a new position in FedEx during the 2nd quarter worth about $28,000. Finally, Balentine LLC acquired a new position in FedEx during the 1st quarter worth about $29,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.
In other FedEx news, Director David P. Steiner sold 1,951 shares of FedEx stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $205.00, for a total value of $399,955.00. Following the transaction, the director now directly owns 31,610 shares in the company, valued at approximately $6,480,050. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Brie Carere sold 1,307 shares of FedEx stock in a transaction that occurred on Wednesday, August 12th. The shares were sold at an average price of $202.60, for a total value of $264,798.20. Following the completion of the transaction, the executive vice president now owns 11,481 shares in the company, valued at $2,326,050.60. The disclosure for this sale can be found here. Insiders have sold a total of 44,058 shares of company stock worth $7,149,678 in the last 90 days. 8.49% of the stock is currently owned by company insiders.
Several research firms recently issued reports on FDX. Raymond James increased their target price on FedEx from $165.00 to $280.00 and gave the stock an “outperform” rating in a research note on Wednesday. Loop Capital increased their target price on FedEx from $248.00 to $372.00 and gave the stock a “buy” rating in a research note on Wednesday. Credit Suisse Group increased their target price on FedEx from $171.00 to $260.00 and gave the stock an “outperform” rating in a research note on Monday. Cowen increased their target price on FedEx from $167.00 to $264.00 and gave the stock an “outperform” rating in a research note on Friday, September 11th. Finally, Goldman Sachs Group increased their price target on FedEx from $233.00 to $297.00 and gave the company a “conviction-buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. FedEx presently has an average rating of “Buy” and an average price target of $247.85.
NYSE:FDX traded up $14.67 during mid-day trading on Wednesday, reaching $251.34. 577,761 shares of the stock were exchanged, compared to its average volume of 3,039,629. The company has a 50 day simple moving average of $204.74 and a 200-day simple moving average of $148.86. The stock has a market capitalization of $62.01 billion, a P/E ratio of 51.40, a P/E/G ratio of 1.84 and a beta of 1.48. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.20. FedEx Co. has a 1 year low of $88.69 and a 1 year high of $241.00.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.69 by $2.18. The firm had revenue of $19.32 billion for the quarter, compared to the consensus estimate of $17.56 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter last year, the business posted $3.05 EPS. As a group, research analysts predict that FedEx Co. will post 10.52 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Friday, September 4th will be paid a dividend of $0.65 per share. The ex-dividend date is Thursday, September 3rd. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. FedEx’s dividend payout ratio is presently 27.37%.
FedEx Company Profile
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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