Seeyond reduced its position in FedEx Co. (NYSE:FDX) by 2.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 5,165 shares of the shipping service provider’s stock after selling 145 shares during the quarter. Seeyond’s holdings in FedEx were worth $848,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently modified their holdings of FDX. Associated Banc Corp grew its stake in shares of FedEx by 3.7% during the first quarter. Associated Banc Corp now owns 1,644 shares of the shipping service provider’s stock valued at $298,000 after acquiring an additional 59 shares in the last quarter. McIlrath & Eck LLC grew its holdings in FedEx by 27.5% during the 1st quarter. McIlrath & Eck LLC now owns 283 shares of the shipping service provider’s stock valued at $51,000 after buying an additional 61 shares during the last quarter. Zions Bancorporation N.A. grew its holdings in FedEx by 4.0% during the 2nd quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock valued at $273,000 after buying an additional 64 shares during the last quarter. Alpha Windward LLC grew its holdings in FedEx by 7.5% during the 2nd quarter. Alpha Windward LLC now owns 977 shares of the shipping service provider’s stock valued at $169,000 after buying an additional 68 shares during the last quarter. Finally, FinTrust Capital Advisors LLC grew its holdings in FedEx by 2.6% during the 2nd quarter. FinTrust Capital Advisors LLC now owns 2,780 shares of the shipping service provider’s stock valued at $457,000 after buying an additional 70 shares during the last quarter. 71.40% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx stock traded up $1.21 during trading hours on Friday, hitting $174.72. 86,818 shares of the company’s stock traded hands, compared to its average volume of 1,570,284. The stock has a 50 day simple moving average of $161.65 and a 200-day simple moving average of $171.08. The company has a quick ratio of 1.39, a current ratio of 1.45 and a debt-to-equity ratio of 0.94. The company has a market cap of $44.93 billion, a PE ratio of 11.25, a PEG ratio of 0.93 and a beta of 1.69. FedEx Co. has a twelve month low of $147.82 and a twelve month high of $259.25.
FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 earnings per share for the quarter, beating the consensus estimate of $4.93 by $0.08. The company had revenue of $17.81 billion during the quarter, compared to the consensus estimate of $17.85 billion. FedEx had a return on equity of 21.57% and a net margin of 0.77%. The company’s revenue was up 2.8% on a year-over-year basis. During the same period last year, the firm earned $5.91 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 14.7 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th will be paid a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.49%. FedEx’s dividend payout ratio is presently 16.75%.
In related news, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total value of $4,060,518.00. Following the completion of the transaction, the executive vice president now directly owns 68,446 shares in the company, valued at $12,031,437.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul S. Walsh sold 4,440 shares of FedEx stock in a transaction dated Thursday, July 11th. The stock was sold at an average price of $161.88, for a total value of $718,747.20. Following the completion of the transaction, the director now owns 16,440 shares of the company’s stock, valued at $2,661,307.20. The disclosure for this sale can be found here. 8.44% of the stock is owned by company insiders.
A number of equities research analysts have commented on FDX shares. Bank of America lowered their target price on FedEx from $188.00 to $173.00 and set a “neutral” rating on the stock in a report on Friday, May 31st. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating and set a $161.00 target price on the stock. in a research report on Thursday, August 29th. Barclays reaffirmed a “buy” rating and issued a $185.00 target price on shares of FedEx in a research report on Thursday, June 13th. Citigroup cut their target price on FedEx from $192.00 to $180.00 and set a “buy” rating on the stock in a research report on Wednesday, June 26th. Finally, Morgan Stanley set a $131.00 target price on FedEx and gave the stock a “hold” rating in a research report on Tuesday, September 3rd. Three research analysts have rated the stock with a sell rating, six have given a hold rating and sixteen have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $190.92.
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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