Value Partners Investments Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 21.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 280,223 shares of the shipping service provider’s stock after selling 75,968 shares during the quarter. FedEx accounts for 5.6% of Value Partners Investments Inc.’s holdings, making the stock its 5th largest position. Value Partners Investments Inc. owned approximately 0.11% of FedEx worth $69,433,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently bought and sold shares of the stock. Guardian Wealth Advisors LLC acquired a new stake in shares of FedEx during the 1st quarter valued at about $26,000. GW&K Investment Management LLC acquired a new position in shares of FedEx during the 1st quarter worth approximately $27,000. Horan Securities Inc. lifted its position in shares of FedEx by 85.7% during the 1st quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after buying an additional 60 shares in the last quarter. Sound Income Strategies LLC grew its stake in FedEx by 1,957.1% in the 1st quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 137 shares during the period. Finally, Core Alternative Capital increased its holdings in FedEx by 105.6% in the 1st quarter. Core Alternative Capital now owns 146 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 75 shares in the last quarter. 73.61% of the stock is owned by institutional investors and hedge funds.
FedEx Stock Down 0.6 %
Shares of NYSE FDX opened at $264.92 on Friday. FedEx Co. has a 52-week low of $147.98 and a 52-week high of $270.95. The business’s 50 day moving average is $261.13 and its two-hundred day moving average is $241.88. The firm has a market cap of $66.61 billion, a price-to-earnings ratio of 16.15, a PEG ratio of 1.22 and a beta of 1.36. The company has a quick ratio of 1.32, a current ratio of 1.37 and a debt-to-equity ratio of 0.76.
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings data on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.84. FedEx had a return on equity of 16.14% and a net margin of 4.71%. The firm had revenue of $21.68 billion for the quarter, compared to the consensus estimate of $21.74 billion. During the same quarter in the previous year, the business earned $3.44 EPS. The company’s quarterly revenue was down 6.5% compared to the same quarter last year. Research analysts predict that FedEx Co. will post 18.1 EPS for the current year.
FedEx Dividend Announcement
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.90%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is currently 30.73%.
Insider Buying and Selling
In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction that occurred on Thursday, July 20th. The shares were sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the transaction, the executive vice president now owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 8.73% of the stock is owned by insiders.
Wall Street Analysts Forecast Growth
Several analysts have recently issued reports on the stock. StockNews.com started coverage on shares of FedEx in a research report on Thursday, August 17th. They issued a “buy” rating on the stock. Sanford C. Bernstein boosted their price objective on FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. The Goldman Sachs Group raised their target price on FedEx from $269.00 to $278.00 in a research report on Wednesday, September 13th. Wells Fargo & Company increased their price objective on FedEx from $270.00 to $280.00 and gave the company an “equal weight” rating in a research note on Thursday, September 21st. Finally, Morgan Stanley lifted their target price on shares of FedEx from $200.00 to $205.00 and gave the stock an “equal weight” rating in a research note on Thursday, September 21st. Eight equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $274.36.
About FedEx
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.