IBM Retirement Fund lowered its stake in shares of FedEx Co. (NYSE:FDX) by 7.4% during the fourth quarter, HoldingsChannel.com reports. The firm owned 4,303 shares of the shipping service provider’s stock after selling 342 shares during the period. IBM Retirement Fund’s holdings in FedEx were worth $694,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of the business. Berman Capital Advisors LLC acquired a new stake in FedEx during the 4th quarter valued at $25,000. Northwest Wealth Management LLC grew its holdings in FedEx by 842.1% during the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 160 shares in the last quarter. Sound Income Strategies LLC grew its holdings in FedEx by 1,666.7% during the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 200 shares in the last quarter. Laurel Wealth Advisors LLC acquired a new stake in FedEx during the 4th quarter valued at $43,000. Finally, Burt Wealth Advisors grew its holdings in FedEx by 102.2% during the 4th quarter. Burt Wealth Advisors now owns 277 shares of the shipping service provider’s stock valued at $45,000 after purchasing an additional 140 shares in the last quarter. 70.62% of the stock is currently owned by institutional investors.
FDX has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Morgan Stanley decreased their price objective on shares of FedEx from $240.00 to $230.00 and set an “equal weight” rating for the company in a report on Tuesday, December 4th. Bank of America lowered shares of FedEx from a “buy” rating to a “neutral” rating in a report on Monday, December 10th. Credit Suisse Group decreased their price objective on shares of FedEx from $307.00 to $263.00 and set an “outperform” rating for the company in a report on Wednesday, December 12th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and set a $256.00 price objective on shares of FedEx in a report on Tuesday, December 18th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and fifteen have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $218.45.
In other news, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now directly owns 30,185 shares in the company, valued at approximately $5,500,914.40. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director David P. Steiner purchased 7,000 shares of FedEx stock in a transaction dated Wednesday, January 2nd. The stock was acquired at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the transaction, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. Company insiders own 8.50% of the company’s stock.
FedEx stock opened at $178.99 on Friday. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.36 and a current ratio of 1.46. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $266.67. The stock has a market capitalization of $45.62 billion, a PE ratio of 11.69, a price-to-earnings-growth ratio of 0.88 and a beta of 1.63.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. During the same quarter in the previous year, the business posted $3.72 earnings per share. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. On average, research analysts expect that FedEx Co. will post 15.52 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Stockholders of record on Monday, March 11th will be given a $0.65 dividend. The ex-dividend date is Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.45%. FedEx’s payout ratio is currently 16.98%.
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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