Ballast Inc. purchased a new position in FedEx Co. (NYSE:FDX – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 1,052 shares of the shipping service provider’s stock, valued at approximately $240,000.
Other institutional investors have also recently bought and sold shares of the company. Norges Bank acquired a new stake in FedEx during the 4th quarter worth about $388,787,000. International Assets Investment Management LLC boosted its position in FedEx by 24,422.8% during the 4th quarter. International Assets Investment Management LLC now owns 1,169,490 shares of the shipping service provider’s stock worth $1,678,000 after acquiring an additional 1,164,721 shares during the period. Edmp Inc. boosted its position in FedEx by 21,900.8% during the 4th quarter. Edmp Inc. now owns 882,454 shares of the shipping service provider’s stock worth $5,095,000 after acquiring an additional 878,443 shares during the period. Morgan Stanley boosted its position in FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after acquiring an additional 559,607 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in FedEx by 34.5% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,951,974 shares of the shipping service provider’s stock worth $338,082,000 after acquiring an additional 500,361 shares during the period. Hedge funds and other institutional investors own 73.39% of the company’s stock.
Insiders Place Their Bets
In other FedEx news, Director Amy B. Lane purchased 830 shares of the stock in a transaction on Thursday, April 6th. The stock was bought at an average cost of $232.88 per share, for a total transaction of $193,290.40. Following the completion of the acquisition, the director now directly owns 2,359 shares of the company’s stock, valued at $549,363.92. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Amy B. Lane acquired 830 shares of the firm’s stock in a transaction that occurred on Thursday, April 6th. The stock was acquired at an average cost of $232.88 per share, for a total transaction of $193,290.40. Following the completion of the acquisition, the director now owns 2,359 shares in the company, valued at $549,363.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Brie Carere sold 1,750 shares of the stock in a transaction dated Monday, April 10th. The stock was sold at an average price of $232.08, for a total value of $406,140.00. Following the transaction, the executive vice president now owns 14,616 shares of the company’s stock, valued at $3,392,081.28. The disclosure for this sale can be found here. Insiders sold 176,557 shares of company stock worth $41,318,655 over the last ninety days. 8.62% of the stock is currently owned by corporate insiders.
FedEx Trading Up 0.4 %
NYSE FDX traded up $0.91 on Thursday, reaching $249.35. The company had a trading volume of 340,904 shares, compared to its average volume of 2,051,878. The stock’s 50 day moving average is $227.77 and its 200-day moving average is $210.82. The stock has a market cap of $62.67 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.13 and a beta of 1.33. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. FedEx Co. has a 52 week low of $141.92 and a 52 week high of $249.98.
FedEx (NYSE:FDX – Free Report) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 EPS for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business had revenue of $21.93 billion during the quarter, compared to the consensus estimate of $22.55 billion. During the same quarter in the prior year, the company posted $6.87 earnings per share. The firm’s revenue was down 10.1% on a year-over-year basis. Equities analysts predict that FedEx Co. will post 17.33 earnings per share for the current year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Monday, July 3rd. Shareholders of record on Monday, June 12th will be issued a $1.26 dividend. This is an increase from FedEx’s previous quarterly dividend of $1.15. This represents a $5.04 annualized dividend and a dividend yield of 2.02%. The ex-dividend date is Friday, June 9th. FedEx’s dividend payout ratio is 32.52%.
Analyst Upgrades and Downgrades
Several brokerages have recently issued reports on FDX. Citigroup lifted their price target on FedEx from $275.00 to $285.00 and gave the company a “buy” rating in a report on Thursday, April 6th. Morgan Stanley boosted their target price on FedEx from $180.00 to $186.00 in a report on Wednesday, June 21st. Barclays boosted their target price on FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, March 17th. Stifel Nicolaus reduced their target price on FedEx from $264.00 to $259.00 in a report on Wednesday, June 21st. Finally, BMO Capital Markets boosted their target price on FedEx from $235.00 to $260.00 in a report on Thursday, April 6th. Ten research analysts have rated the stock with a hold rating and seventeen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $247.86.
FedEx Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.