Great West Life Assurance Co. Can lessened its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 1.9% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 162,408 shares of the shipping service provider’s stock after selling 3,119 shares during the period. Great West Life Assurance Co. Can owned about 0.06% of FedEx worth $40,396,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. RB Capital Management LLC lifted its position in FedEx by 3.3% in the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after buying an additional 63 shares in the last quarter. AMI Investment Management Inc. increased its stake in shares of FedEx by 43.9% in the first quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock worth $3,560,000 after acquiring an additional 4,693 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of FedEx by 101.5% during the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock worth $989,000 after acquiring an additional 2,153 shares in the last quarter. Baird Financial Group Inc. boosted its position in FedEx by 7.8% during the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after purchasing an additional 10,731 shares during the last quarter. Finally, Loomis Sayles & Co. L P grew its stake in FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after purchasing an additional 332 shares in the last quarter. Hedge funds and other institutional investors own 73.61% of the company’s stock.
Insider Transactions at FedEx
In other FedEx news, VP Jennifer L. Johnson sold 13,348 shares of the company’s stock in a transaction that occurred on Friday, October 6th. The stock was sold at an average price of $258.25, for a total value of $3,447,121.00. Following the sale, the vice president now owns 3,428 shares in the company, valued at $885,281. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 8.73% of the stock is owned by company insiders.
FedEx Price Performance
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share for the quarter, beating analysts’ consensus estimates of $3.71 by $0.84. The firm had revenue of $21.68 billion during the quarter, compared to the consensus estimate of $21.74 billion. FedEx had a return on equity of 16.14% and a net margin of 4.71%. The business’s revenue was down 6.5% compared to the same quarter last year. During the same period last year, the company earned $3.44 earnings per share. Equities research analysts anticipate that FedEx Co. will post 18.14 earnings per share for the current fiscal year.
FedEx Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio (DPR) is presently 30.73%.
Wall Street Analyst Weigh In
A number of brokerages recently issued reports on FDX. StockNews.com cut shares of FedEx from a “strong-buy” rating to a “buy” rating in a report on Monday. The Goldman Sachs Group upped their price objective on FedEx from $269.00 to $278.00 in a research note on Wednesday, September 13th. UBS Group increased their target price on shares of FedEx from $312.00 to $323.00 and gave the stock a “buy” rating in a research report on Thursday, September 21st. Bank of America boosted their price objective on FedEx from $309.00 to $330.00 and gave the stock a “buy” rating in a research note on Thursday, September 21st. Finally, Robert W. Baird restated an “outperform” rating and issued a $300.00 price objective on shares of FedEx in a research report on Thursday, September 14th. Seven investment analysts have rated the stock with a hold rating and seventeen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $282.54.
FedEx Company Profile
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.
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