Bath Savings Trust Co lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 139.2% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 9,178 shares of the shipping service provider’s stock after purchasing an additional 5,341 shares during the quarter. Bath Savings Trust Co’s holdings in FedEx were worth $2,290,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. raised its position in FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC raised its position in FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx during the 3rd quarter worth about $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx during the 3rd quarter worth about $136,000. Finally, Carroll Financial Associates Inc. raised its position in shares of FedEx by 61.1% during the 3rd quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
In related news, Director David P. Steiner sold 3,016 shares of the company’s stock in a transaction on Friday, January 5th. The stock was sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares in the company, valued at $4,267,442. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $255.49, for a total value of $11,894,336.95. Following the completion of the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The disclosure for this sale can be found here. Over the last three months, insiders sold 68,671 shares of company stock valued at $17,137,160. Insiders own 8.45% of the company’s stock.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The company had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same period in the previous year, the firm posted $2.80 earnings per share. The business’s revenue for the quarter was up 9.4% compared to the same quarter last year. sell-side analysts anticipate that FedEx Co. will post 13.13 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.74%. FedEx’s dividend payout ratio (DPR) is 18.38%.
Several equities research analysts have recently weighed in on the company. Cowen reissued an “outperform” rating and set a $240.00 target price on shares of FedEx in a research report on Friday, October 13th. Oppenheimer reissued a “buy” rating and set a $265.00 target price (up previously from $236.00) on shares of FedEx in a research report on Wednesday, December 20th. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday, December 12th. BMO Capital Markets restated a “buy” rating and set a $300.00 price target on shares of FedEx in a research note on Monday, January 8th. Finally, Bank of America restated a “buy” rating and set a $240.00 price target on shares of FedEx in a research note on Wednesday, September 20th. One research analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have given a buy rating to the company’s stock. FedEx has an average rating of “Buy” and an average price target of $269.95.
FedEx Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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