Garde Capital Inc. acquired a new position in shares of FedEx Co. (NYSE:FDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 1,652 shares of the shipping service provider’s stock, valued at approximately $232,000.
A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Selective Wealth Management Inc. purchased a new stake in shares of FedEx in the 2nd quarter valued at about $28,000. Hoover Financial Advisors Inc. purchased a new position in shares of FedEx during the 2nd quarter valued at about $28,000. NewSquare Capital LLC raised its holdings in shares of FedEx by 215.4% during the 1st quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock valued at $25,000 after buying an additional 140 shares in the last quarter. Truvestments Capital LLC purchased a new position in shares of FedEx during the 1st quarter valued at about $27,000. Finally, Balentine LLC purchased a new position in shares of FedEx during the 1st quarter valued at about $29,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.
In other news, EVP Brie Carere sold 1,307 shares of the business’s stock in a transaction on Wednesday, August 12th. The stock was sold at an average price of $202.60, for a total value of $264,798.20. Following the completion of the transaction, the executive vice president now owns 11,481 shares in the company, valued at $2,326,050.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Henry J. Maier sold 8,750 shares of the business’s stock in a transaction on Thursday, July 16th. The stock was sold at an average price of $166.48, for a total value of $1,456,700.00. Following the completion of the transaction, the chief executive officer now owns 49,417 shares of the company’s stock, valued at approximately $8,226,942.16. The disclosure for this sale can be found here. Insiders have sold 44,058 shares of company stock valued at $7,149,678 in the last quarter. 8.49% of the stock is owned by company insiders.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.69 by $2.18. The business had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.56 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The firm’s quarterly revenue was up 13.3% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.05 earnings per share. As a group, sell-side analysts predict that FedEx Co. will post 10.52 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.04%. The ex-dividend date is Thursday, September 3rd. FedEx’s payout ratio is 27.37%.
A number of brokerages recently weighed in on FDX. Wells Fargo & Company raised their price objective on FedEx from $221.00 to $286.00 and gave the company an “overweight” rating in a report on Wednesday. Loop Capital raised their price target on FedEx from $248.00 to $372.00 and gave the stock a “buy” rating in a research report on Wednesday. Barclays raised their price target on FedEx from $205.00 to $240.00 and gave the stock an “equal weight” rating in a research report on Wednesday. Citigroup raised their price target on FedEx from $260.00 to $300.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Morgan Stanley raised their price target on FedEx from $110.00 to $250.00 and gave the stock an “equal weight” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eleven have given a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $250.23.
FedEx Company Profile
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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