K.J. Harrison & Partners Inc boosted its position in shares of FedEx Co. (NYSE:FDX) by 142.9% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,200 shares of the shipping service provider’s stock after purchasing an additional 6,000 shares during the period. K.J. Harrison & Partners Inc’s holdings in FedEx were worth $1,675,000 as of its most recent SEC filing.
A number of other large investors have also recently modified their holdings of the stock. Sageworth Trust Co bought a new position in FedEx in the 2nd quarter worth about $25,000. Covenant Multifamily Offices LLC bought a new position in FedEx in the 1st quarter worth about $29,000. Evolution Wealth Advisors LLC bought a new position in FedEx in the 1st quarter worth about $31,000. Endurance Wealth Management Inc. grew its stake in FedEx by 375.0% in the 1st quarter. Endurance Wealth Management Inc. now owns 190 shares of the shipping service provider’s stock worth $34,000 after acquiring an additional 150 shares in the last quarter. Finally, Nelson Roberts Investment Advisors LLC bought a new position in FedEx in the 2nd quarter worth about $34,000. Institutional investors own 71.79% of the company’s stock.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. dropped their target price on shares of FedEx from $184.00 to $172.00 and set a “neutral” rating on the stock in a research note on Wednesday, June 26th. TheStreet downgraded shares of FedEx from a “b-” rating to a “c+” rating in a research note on Thursday, June 6th. Deutsche Bank reiterated a “buy” rating on shares of FedEx in a research note on Wednesday, June 26th. Raymond James dropped their price objective on shares of FedEx from $200.00 to $190.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 26th. Finally, Berenberg Bank set a $175.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Friday, June 28th. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and sixteen have given a buy rating to the company. The company has a consensus rating of “Buy” and a consensus target price of $191.63.
In other FedEx news, Director Paul S. Walsh sold 4,440 shares of the firm’s stock in a transaction on Thursday, July 11th. The shares were 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 transaction was disclosed in a filing with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 23,100 shares of the firm’s stock in a transaction on 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 transaction, the executive vice president now directly owns 68,446 shares of the company’s stock, 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.
NYSE:FDX traded up $1.98 during midday trading on Monday, reaching $157.98. 33,326 shares of the stock traded hands, compared to its average volume of 2,030,355. FedEx Co. has a 12-month low of $150.68 and a 12-month high of $259.25. The business has a 50-day moving average of $164.88 and a two-hundred day moving average of $173.86. The company has a debt-to-equity ratio of 0.94, a quick ratio of 1.39 and a current ratio of 1.45. The stock has a market capitalization of $39.86 billion, a PE ratio of 10.19, a price-to-earnings-growth ratio of 0.83 and a beta of 1.65.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 25th. The shipping service provider reported $5.01 EPS for the quarter, beating the Zacks’ consensus estimate of $4.93 by $0.08. FedEx had a net margin of 0.77% and a return on equity of 21.57%. The company had revenue of $17.81 billion during the quarter, compared to analysts’ expectations of $17.85 billion. During the same quarter in the prior year, the company posted $5.91 earnings per share. FedEx’s revenue for the quarter was up 2.8% compared to the same quarter last year. Research analysts anticipate that FedEx Co. will post 14.61 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 1st. Investors of record on Monday, September 9th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, September 6th. This represents a $2.60 dividend on an annualized basis and a yield of 1.65%. FedEx’s payout ratio is 16.75%.
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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