Tocqueville Asset Management L.P. lifted its stake in FedEx Co. (NYSE:FDX) by 159.4% during the fourth quarter, Holdings Channel reports. The institutional investor owned 9,206 shares of the shipping service provider’s stock after acquiring an additional 5,657 shares during the period. Tocqueville Asset Management L.P.’s holdings in FedEx were worth $2,297,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Cerebellum GP LLC purchased a new position in shares of FedEx in the 4th quarter valued at $125,000. Krilogy Financial LLC grew its position in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after buying an additional 2 shares during the last quarter. Pinnacle Wealth Planning Services Inc. purchased a new position in shares of FedEx in the 4th quarter valued at $144,000. Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx in the 3rd quarter valued at $132,000. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of FedEx in the 3rd quarter valued at $136,000. 73.94% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Co. (NYSE FDX) opened at $247.12 on Friday. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $274.66. The company has a market cap of $66,200.98, a price-to-earnings ratio of 22.78, a PEG ratio of 1.44 and a beta of 1.32. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.
The company also recently announced a quarterly dividend, which will be paid on Monday, April 2nd. Stockholders of record on Monday, March 12th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.81%. The ex-dividend date is Friday, March 9th. FedEx’s dividend payout ratio (DPR) is presently 18.43%.
In related news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the sale, the director now owns 16,040 shares in the company, valued at $4,267,442. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 3,970 shares of the firm’s stock in a transaction dated Thursday, December 21st. The shares were sold at an average price of $250.73, for a total transaction of $995,398.10. Following the completion of the sale, the executive vice president now owns 187,025 shares of the company’s stock, valued at approximately $46,892,778.25. The disclosure for this sale can be found here. Insiders sold 53,541 shares of company stock valued at $13,692,142 in the last quarter. Company insiders own 8.45% of the company’s stock.
A number of research analysts recently commented on the stock. Zacks Investment Research raised shares of FedEx from a “hold” rating to a “strong-buy” rating and set a $310.00 target price on the stock in a research report on Thursday, January 18th. Bank of America reiterated a “buy” rating and set a $315.00 price target on shares of FedEx in a research note on Friday, January 12th. BMO Capital Markets reiterated a “buy” rating and set a $300.00 price target on shares of FedEx in a research note on Monday, January 8th. Robert W. Baird reiterated a “buy” rating and set a $280.00 price target on shares of FedEx in a research note on Tuesday, January 9th. Finally, UBS Group upgraded shares of FedEx from a “neutral” rating to a “buy” rating and increased their price target for the stock from $264.00 to $302.00 in a research note on Friday, January 5th. One research analyst has rated the stock with a sell rating, two have given a hold rating, twenty-four have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $275.04.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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