Ingalls & Snyder LLC lowered its stake in shares of FedEx Co. (NYSE:FDX) by 44.5% in the fourth quarter, Holdings Channel.com reports. The firm owned 18,520 shares of the shipping service provider’s stock after selling 14,836 shares during the period. Ingalls & Snyder LLC’s holdings in FedEx were worth $2,800,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in FDX. Simon Quick Advisors LLC lifted its position in shares of FedEx by 1,600.0% during the 4th quarter. Simon Quick Advisors LLC now owns 170 shares of the shipping service provider’s stock worth $26,000 after buying an additional 160 shares in the last quarter. CX Institutional bought a new stake in shares of FedEx in the 3rd quarter worth approximately $29,000. Accurate Investment Solutions Inc. raised its holdings in shares of FedEx by 125.0% in the 3rd quarter. Accurate Investment Solutions Inc. now owns 225 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 125 shares during the period. Venturi Wealth Management LLC bought a new stake in shares of FedEx in the 3rd quarter worth approximately $33,000. Finally, First PREMIER Bank bought a new stake in shares of FedEx in the 3rd quarter worth approximately $36,000. Institutional investors and hedge funds own 70.48% of the company’s stock.
A number of research firms recently commented on FDX. BMO Capital Markets lowered their price target on shares of FedEx from $165.00 to $160.00 and set a “market perform” rating on the stock in a report on Wednesday, December 18th. JPMorgan Chase & Co. lowered their target price on shares of FedEx from $154.00 to $147.00 and set a “neutral” rating on the stock in a report on Wednesday, December 18th. Credit Suisse Group set a $170.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Tuesday, December 24th. DZ Bank reissued a “sell” rating on shares of FedEx in a report on Wednesday, September 18th. Finally, Edward Jones cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Two research analysts have rated the stock with a sell rating, sixteen have given a hold rating and twelve have given a buy rating to the company’s stock. FedEx has a consensus rating of “Hold” and an average price target of $169.88.
FDX opened at $159.15 on Thursday. The company has a fifty day moving average price of $155.90 and a 200-day moving average price of $157.63. The firm has a market capitalization of $42.34 billion, a P/E ratio of 10.25, a price-to-earnings-growth ratio of 1.25 and a beta of 1.68. The company has a debt-to-equity ratio of 1.67, a current ratio of 1.25 and a quick ratio of 1.20. FedEx Co. has a one year low of $137.78 and a one year high of $199.32.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 17th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.27). FedEx had a net margin of 0.11% and a return on equity of 19.10%. The firm had revenue of $17.32 billion for the quarter, compared to analysts’ expectations of $17.69 billion. During the same quarter last year, the firm earned $4.03 earnings per share. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. On average, analysts expect that FedEx Co. will post 10.84 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, January 2nd. Investors of record on Monday, December 9th were given a $0.65 dividend. The ex-dividend date was Friday, December 6th. This represents a $2.60 annualized dividend and a yield of 1.63%. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
In other FedEx news, Director John A. Edwardson purchased 10,000 shares of the stock in a transaction on Friday, December 20th. The stock was acquired at an average cost of $148.22 per share, with a total value of $1,482,200.00. Following the completion of the purchase, the director now directly owns 77,966 shares of the company’s stock, valued at approximately $11,556,120.52. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Edwardson purchased 5,000 shares of the stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $151.75 per share, with a total value of $758,750.00. Following the completion of the purchase, the director now directly owns 62,966 shares of the company’s stock, valued at $9,555,090.50. The disclosure for this purchase can be found here. 8.44% of the stock is currently owned by insiders.
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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