Harel Insurance Investments & Financial Services Ltd. trimmed its position in FedEx Co. (NYSE:FDX – Free Report) by 1.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 94,092 shares of the shipping service provider’s stock after selling 1,448 shares during the quarter. Harel Insurance Investments & Financial Services Ltd.’s holdings in FedEx were worth $23,408,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Guardian Wealth Advisors LLC purchased a new position in FedEx during the first quarter valued at approximately $26,000. GW&K Investment Management LLC purchased a new position in FedEx during the first quarter valued at approximately $27,000. Horan Securities Inc. grew its position in FedEx by 85.7% during the first quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after purchasing an additional 60 shares in the last quarter. Sound Income Strategies LLC grew its position in FedEx by 1,957.1% during the first quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 137 shares in the last quarter. Finally, Core Alternative Capital grew its position in FedEx by 105.6% during the first quarter. Core Alternative Capital now owns 146 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. 73.61% of the stock is currently owned by institutional investors and hedge funds.
FedEx Trading Down 0.3 %
Shares of FDX stock opened at $261.09 on Friday. FedEx Co. has a 1 year low of $141.92 and a 1 year high of $270.95. The firm’s fifty day simple moving average is $260.70 and its 200 day simple moving average is $239.50. The firm has a market capitalization of $65.64 billion, a P/E ratio of 15.92, a price-to-earnings-growth ratio of 1.24 and a beta of 1.36. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.76.
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings results on Wednesday, September 20th. The shipping service provider reported $4.55 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.71 by $0.84. The firm had revenue of $21.68 billion for the quarter, compared to analyst estimates of $21.74 billion. FedEx had a net margin of 4.71% and a return on equity of 16.14%. The business’s revenue for the quarter was down 6.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted $3.44 EPS. As a group, sell-side analysts predict that FedEx Co. will post 17.65 EPS for the current year.
FedEx Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 30.73%.
Insider Buying and Selling at FedEx
In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Jennifer L. Johnson sold 10,801 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares of the company’s stock, valued at approximately $762,597.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 19,270 shares of the company’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total transaction of $4,740,420.00. Following the completion of the sale, the executive vice president now directly owns 58,875 shares in the company, valued at approximately $14,483,250. The disclosure for this sale can be found here. Insiders have sold 35,816 shares of company stock valued at $8,822,147 in the last 90 days. 8.73% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
FDX has been the topic of a number of research analyst reports. Credit Suisse Group lowered their price objective on shares of FedEx from $273.00 to $265.00 in a research report on Wednesday, June 21st. Morgan Stanley lifted their target price on shares of FedEx from $200.00 to $205.00 and gave the company an “equal weight” rating in a research note on Thursday. Raymond James lifted their target price on shares of FedEx from $270.00 to $279.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays lifted their target price on shares of FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, September 15th. Finally, Stifel Nicolaus lifted their target price on shares of FedEx from $259.00 to $288.00 in a research note on Wednesday, July 26th. Eight analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $262.56.
Check Out Our Latest Report on FedEx
FedEx Profile
(Free Report)
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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