Community Trust & Investment Co. decreased its holdings in FedEx Co. (NYSE:FDX) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 92,565 shares of the shipping service provider’s stock after selling 2,186 shares during the quarter. FedEx makes up 1.6% of Community Trust & Investment Co.’s investment portfolio, making the stock its 29th biggest holding. Community Trust & Investment Co.’s holdings in FedEx were worth $13,474,000 as of its most recent SEC filing.
Several other institutional investors have also modified their holdings of FDX. Parnassus Investments CA grew its stake in shares of FedEx by 2,614.2% in the second quarter. Parnassus Investments CA now owns 3,499,875 shares of the shipping service provider’s stock worth $574,644,000 after purchasing an additional 3,370,929 shares during the last quarter. BlackRock Inc. grew its stake in shares of FedEx by 9.5% in the second quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after purchasing an additional 1,395,988 shares during the last quarter. Nuveen Asset Management LLC grew its stake in shares of FedEx by 11,911.3% in the second quarter. Nuveen Asset Management LLC now owns 1,118,489 shares of the shipping service provider’s stock worth $183,645,000 after purchasing an additional 1,109,177 shares during the last quarter. Nordea Investment Management AB boosted its position in FedEx by 63.5% during the first quarter. Nordea Investment Management AB now owns 1,548,876 shares of the shipping service provider’s stock valued at $280,985,000 after acquiring an additional 601,465 shares during the last quarter. Finally, ANTIPODES PARTNERS Ltd bought a new stake in FedEx during the second quarter valued at $84,956,000. 71.32% of the stock is currently owned by institutional investors.
Shares of NYSE FDX traded up $4.98 during trading on Friday, hitting $146.34. 85,664 shares of the company traded hands, compared to its average volume of 3,954,249. The business’s fifty day moving average is $153.78 and its 200 day moving average is $167.03. FedEx Co. has a fifty-two week low of $137.78 and a fifty-two week high of $234.49. The firm has a market capitalization of $36.11 billion, a price-to-earnings ratio of 9.39, a P/E/G ratio of 0.95 and a beta of 1.72. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.25 and a current ratio of 1.31.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 1st. Investors of record on Monday, September 9th were issued a $0.65 dividend. The ex-dividend date was Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.78%. FedEx’s dividend payout ratio is presently 16.75%.
In other FedEx news, Director R Brad Martin bought 1,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the acquisition, the director now directly owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Corporate insiders own 8.44% of the company’s stock.
FDX has been the topic of a number of research analyst reports. Goldman Sachs Group initiated coverage on shares of FedEx in a research report on Wednesday, July 10th. They set a “buy” rating and a $200.00 price target on the stock. ValuEngine raised shares of FedEx from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Raymond James cut their price target on shares of FedEx from $190.00 to $175.00 and set an “outperform” rating on the stock in a research report on Wednesday, September 18th. Berenberg Bank set a $155.00 price target on shares of FedEx and gave the company a “hold” rating in a research report on Friday. Finally, Stifel Nicolaus cut shares of FedEx from a “buy” rating to a “hold” rating and cut their price target for the company from $185.00 to $171.00 in a research report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $171.64.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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