Edmond DE Rothschild Holding S.A. boosted its position in FedEx Co. (NYSE:FDX) by 16.4% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 112,550 shares of the shipping service provider’s stock after purchasing an additional 15,863 shares during the quarter. Edmond DE Rothschild Holding S.A.’s holdings in FedEx were worth $33,578,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the stock. BlackRock Inc. lifted its position in FedEx by 2.2% in the 1st quarter. BlackRock Inc. now owns 18,519,425 shares of the shipping service provider’s stock valued at $5,260,259,000 after purchasing an additional 406,634 shares during the last quarter. Primecap Management Co. CA boosted its holdings in shares of FedEx by 1.6% in the first quarter. Primecap Management Co. CA now owns 13,936,709 shares of the shipping service provider’s stock valued at $3,958,583,000 after acquiring an additional 219,370 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of FedEx by 3.8% during the first quarter. Geode Capital Management LLC now owns 3,627,388 shares of the shipping service provider’s stock valued at $1,027,167,000 after acquiring an additional 131,866 shares during the period. Northern Trust Corp raised its holdings in FedEx by 0.6% during the first quarter. Northern Trust Corp now owns 2,790,442 shares of the shipping service provider’s stock worth $792,598,000 after purchasing an additional 15,528 shares in the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in FedEx by 3.3% in the first quarter. Dimensional Fund Advisors LP now owns 2,379,162 shares of the shipping service provider’s stock worth $675,837,000 after purchasing an additional 75,239 shares during the period. Hedge funds and other institutional investors own 72.64% of the company’s stock.
A number of brokerages have issued reports on FDX. Raymond James increased their price target on FedEx from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, June 4th. Argus increased their price target on FedEx from $305.00 to $330.00 and gave the company a “buy” rating in a research note on Tuesday, June 29th. They noted that the move was a valuation call. JPMorgan Chase & Co. decreased their price target on FedEx from $366.00 to $346.00 and set an “overweight” rating for the company in a research note on Thursday, September 9th. Deutsche Bank Aktiengesellschaft increased their price target on FedEx from $318.00 to $375.00 and gave the company a “buy” rating in a research note on Monday, June 28th. Finally, Loop Capital increased their price target on FedEx from $366.00 to $381.00 and gave the company a “buy” rating in a research note on Friday, June 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, twenty-one have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $347.29.
FedEx (NYSE:FDX) last posted its earnings results on Wednesday, June 23rd. The shipping service provider reported $5.01 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $4.99 by $0.02. The firm had revenue of $22.57 billion for the quarter, compared to the consensus estimate of $21.54 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. The business’s quarterly revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the business posted $2.53 earnings per share. As a group, sell-side analysts anticipate that FedEx Co. will post 21.27 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be given a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.19%. The ex-dividend date is Thursday, September 2nd. FedEx’s payout ratio is 16.51%.
In other news, EVP Robert B. Carter sold 16,235 shares of the firm’s stock in a transaction dated Monday, July 12th. The stock was sold at an average price of $299.66, for a total value of $4,864,980.10. Following the sale, the executive vice president now directly owns 68,680 shares of the company’s stock, valued at $20,580,648.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO John Alan Smith sold 11,285 shares of the firm’s stock in a transaction dated Tuesday, June 29th. The shares were sold at an average price of $296.00, for a total value of $3,340,360.00. Following the completion of the sale, the chief executive officer now directly owns 16,386 shares in the company, valued at $4,850,256. The disclosure for this sale can be found here. Insiders have sold 32,240 shares of company stock worth $9,608,596 over the last three months. Company insiders own 8.16% of the company’s stock.
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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