Quad Capital Management Advisors LLC purchased a new stake in FedEx Co. (NYSE:FDX) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 1,531 shares of the shipping service provider’s stock, valued at approximately $368,000.
Several other large investors have also recently made changes to their positions in FDX. Moneta Group Investment Advisors LLC increased its stake in shares of FedEx by 14,866.7% in the first quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after purchasing an additional 446 shares during the period. Pinnacle Wealth Planning Services Inc. acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $144,000. We Are One Seven LLC acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $148,000. Centaurus Financial Inc. acquired a new stake in shares of FedEx in the first quarter valued at approximately $156,000. Finally, Noesis Capital Mangement Corp acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $202,000. Institutional investors own 73.40% of the company’s stock.
In related news, Director Paul S. Walsh sold 4,400 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The shares were sold at an average price of $255.00, for a total value of $1,122,000.00. Following the completion of the transaction, the director now owns 14,400 shares of the company’s stock, valued at approximately $3,672,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick W. Smith sold 124,000 shares of the firm’s stock in a transaction that occurred on Wednesday, April 18th. The stock was sold at an average price of $255.99, for a total transaction of $31,742,760.00. Following the completion of the transaction, the chief executive officer now directly owns 14,864,465 shares of the company’s stock, valued at approximately $3,805,154,395.35. The disclosure for this sale can be found here. Company insiders own 8.45% of the company’s stock.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, March 20th. The shipping service provider reported $3.72 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.11 by $0.61. The firm had revenue of $16.53 billion during the quarter, compared to analysts’ expectations of $16.17 billion. FedEx had a net margin of 6.99% and a return on equity of 21.65%. The firm’s revenue for the quarter was up 10.2% compared to the same quarter last year. During the same period last year, the firm posted $2.35 earnings per share. sell-side analysts expect that FedEx Co. will post 15.13 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 9th. Investors of record on Monday, June 25th will be paid a $0.65 dividend. This is a positive change from FedEx’s previous quarterly dividend of $0.50. The ex-dividend date is Friday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 0.99%. FedEx’s dividend payout ratio (DPR) is currently 16.26%.
Several equities research analysts have commented on FDX shares. Sanford C. Bernstein upgraded shares of FedEx from a “market perform” rating to an “outperform” rating and set a $290.00 price target on the stock in a research note on Friday, February 23rd. Morgan Stanley raised their price objective on shares of FedEx from $240.00 to $248.00 and gave the company an “equal weight” rating in a research note on Monday, June 4th. Oppenheimer raised their price objective on shares of FedEx from $265.00 to $274.00 and gave the company an “outperform” rating in a research note on Friday, March 16th. Zacks Investment Research lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Friday, March 23rd. Finally, KeyCorp raised their price objective on shares of FedEx from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, March 21st. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $283.72.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment provides various shipping services for the delivery of packages and freight; international trade services specializing in customs brokerage, and ocean and air freight forwarding services; assistance with the customs-trade partnership against terrorism program; and customs clearance services, as well as an information tool that allows customers to track and manage imports.
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