Miller Howard Investments Inc. NY raised its stake in FedEx Co. (NYSE:FDX) by 38.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,651 shares of the shipping service provider’s stock after acquiring an additional 3,526 shares during the period. Miller Howard Investments Inc. NY’s holdings in FedEx were worth $2,873,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. J. Goldman & Co LP lifted its holdings in shares of FedEx by 209.6% during the fourth quarter. J. Goldman & Co LP now owns 68,492 shares of the shipping service provider’s stock valued at $17,091,000 after purchasing an additional 130,992 shares in the last quarter. Elkfork Partners LLC bought a new position in shares of FedEx during the fourth quarter valued at $1,070,000. Indiana Trust & Investment Management CO bought a new position in shares of FedEx during the second quarter valued at $789,000. American National Bank bought a new position in shares of FedEx during the second quarter valued at $2,449,000. Finally, Stratos Wealth Partners LTD. lifted its holdings in shares of FedEx by 7.8% during the first quarter. Stratos Wealth Partners LTD. now owns 24,109 shares of the shipping service provider’s stock valued at $5,789,000 after purchasing an additional 1,739 shares in the last quarter. 73.63% of the stock is currently owned by hedge funds and other institutional investors.
FedEx opened at $236.19 on Thursday, MarketBeat reports. FedEx Co. has a fifty-two week low of $203.13 and a fifty-two week high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.34 and a current ratio of 1.39. The stock has a market capitalization of $61.47 billion, a price-to-earnings ratio of 15.09, a PEG ratio of 1.05 and a beta of 1.41.
The company also recently announced a quarterly dividend, which was paid on Monday, July 9th. Shareholders of record on Monday, June 25th were issued a $0.65 dividend. This is an increase from FedEx’s previous quarterly dividend of $0.50. The ex-dividend date of this dividend was Friday, June 22nd. This represents a $2.60 dividend on an annualized basis and a yield of 1.10%. FedEx’s dividend payout ratio is currently 16.98%.
A number of research analysts have recently issued reports on the company. Credit Suisse Group lowered their price target on FedEx from $314.00 to $306.00 and set an “outperform” rating on the stock in a report on Wednesday, March 21st. UBS Group downgraded FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target on the stock. in a report on Monday. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Citigroup upped their price target on FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, May 16th. Finally, Morgan Stanley lowered their price target on FedEx from $250.00 to $240.00 and set an “equal weight” rating on the stock in a report on Wednesday, March 21st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and nineteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus price target of $283.75.
FedEx Company Profile
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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