USS Investment Management Ltd lowered its position in FedEx Co. (NYSE:FDX – Get Rating) by 3.6% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 69,634 shares of the shipping service provider’s stock after selling 2,609 shares during the period. USS Investment Management Ltd’s holdings in FedEx were worth $15,796,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of FDX. Mizuho Markets Americas LLC bought a new position in FedEx in the 2nd quarter worth $229,102,000. ACR Alpine Capital Research LLC purchased a new stake in FedEx in the 2nd quarter worth $161,754,000. FMR LLC lifted its stake in FedEx by 15.6% in the 2nd quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider’s stock worth $929,536,000 after purchasing an additional 554,395 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in FedEx by 24,340.9% in the 1st quarter. Los Angeles Capital Management LLC now owns 490,284 shares of the shipping service provider’s stock worth $113,447,000 after purchasing an additional 488,278 shares in the last quarter. Finally, Vanguard Group Inc. lifted its stake in FedEx by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 18,784,798 shares of the shipping service provider’s stock worth $4,346,614,000 after purchasing an additional 394,289 shares in the last quarter. Institutional investors own 71.62% of the company’s stock.
Analysts Set New Price Targets
Several analysts have commented on FDX shares. Susquehanna Bancshares decreased their price target on shares of FedEx from $250.00 to $165.00 in a research note on Thursday, October 13th. Susquehanna decreased their target price on shares of FedEx from $250.00 to $165.00 in a research report on Thursday, October 13th. BMO Capital Markets decreased their target price on shares of FedEx from $215.00 to $190.00 and set a “market perform” rating on the stock in a research report on Friday, September 23rd. The Goldman Sachs Group decreased their target price on shares of FedEx from $250.00 to $215.00 and set a “buy” rating on the stock in a research report on Friday, September 23rd. Finally, Stifel Nicolaus cut shares of FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $288.00 to $195.00 in a research report on Friday, September 16th. Twelve investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $207.16.
Insiders Place Their Bets
FedEx Stock Up 0.4 %
FDX traded up $0.69 during trading on Thursday, hitting $176.36. The stock had a trading volume of 1,758,209 shares, compared to its average volume of 2,729,453. The company has a market capitalization of $45.89 billion, a PE ratio of 13.03, a PEG ratio of 1.02 and a beta of 1.31. FedEx Co. has a twelve month low of $141.92 and a twelve month high of $266.79. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.38 and a current ratio of 1.42. The stock has a 50 day simple moving average of $160.22 and a two-hundred day simple moving average of $199.98.
FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings results on Thursday, September 22nd. The shipping service provider reported $3.44 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $5.14 by ($1.70). The company had revenue of $23.20 billion during the quarter, compared to analysts’ expectations of $23.78 billion. FedEx had a return on equity of 20.95% and a net margin of 3.79%. The company’s quarterly revenue was up 5.4% on a year-over-year basis. During the same period in the prior year, the business posted $4.37 EPS. On average, research analysts predict that FedEx Co. will post 14.34 earnings per share for the current year.
FedEx Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be issued a $1.15 dividend. The ex-dividend date of this dividend is Friday, December 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.61%. FedEx’s dividend payout ratio is currently 33.97%.
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
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