Avalon Advisors LLC lessened its position in shares of FedEx Co. (NYSE:FDX) by 0.9% in the first quarter, HoldingsChannel.com reports. The fund owned 40,747 shares of the shipping service provider’s stock after selling 383 shares during the period. Avalon Advisors LLC’s holdings in FedEx were worth $9,784,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors have also recently modified their holdings of FDX. Moneta Group Investment Advisors LLC boosted its holdings in shares of FedEx by 14,866.7% during the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock worth $108,000 after acquiring an additional 446 shares during the period. We Are One Seven LLC bought a new stake in shares of FedEx during the fourth quarter worth approximately $148,000. Centaurus Financial Inc. bought a new stake in shares of FedEx during the first quarter worth approximately $156,000. Noesis Capital Mangement Corp bought a new stake in shares of FedEx during the fourth quarter worth approximately $202,000. Finally, Keel Point LLC bought a new stake in shares of FedEx during the first quarter worth approximately $205,000. Institutional investors own 73.45% of the company’s stock.
Several equities research analysts recently issued reports on FDX shares. Morgan Stanley cut their price target on FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 20th. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $315.00 price target on shares of FedEx in a research note on Monday, March 19th. Citigroup boosted their price target on FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a research note on Wednesday, May 16th. KeyCorp boosted their price target on FedEx from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, March 21st. Finally, Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a research note on Tuesday, March 13th. One investment analyst has rated the stock with a sell rating, two have given a hold rating and twenty have issued a buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $285.94.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, beating the consensus estimate of $5.72 by $0.19. The business had revenue of $17.31 billion during the quarter, compared to the consensus estimate of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. The company’s revenue was up 10.1% on a year-over-year basis. During the same period in the previous year, the business earned $4.25 earnings per share. sell-side analysts anticipate that FedEx Co. will post 17.34 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 9th. Stockholders of record on Monday, June 25th will be issued a dividend of $0.65 per share. The ex-dividend date is Friday, June 22nd. This is an increase from FedEx’s previous quarterly dividend of $0.50. This represents a $2.60 annualized dividend and a dividend yield of 1.10%. FedEx’s dividend payout ratio is 16.98%.
In other news, CEO Frederick W. Smith sold 124,000 shares of the company’s stock in a transaction on Wednesday, April 18th. The shares were sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the completion of the transaction, the chief executive officer now directly owns 14,864,465 shares in the company, valued at $3,805,154,395.35. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Walsh sold 4,400 shares of the company’s stock in a transaction on Wednesday, April 18th. The stock was sold at an average price of $255.00, for a total transaction of $1,122,000.00. Following the transaction, the director now owns 14,400 shares of the company’s stock, valued at $3,672,000. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by corporate insiders.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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