Oakbrook Investments LLC lifted its holdings in FedEx Co. (NYSE:FDX) by 74.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 17,742 shares of the shipping service provider’s stock after acquiring an additional 7,595 shares during the period. Oakbrook Investments LLC’s holdings in FedEx were worth $4,272,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds have also bought and sold shares of the company. D.B. Root & Company LLC lifted its position in shares of FedEx by 7.6% during the 2nd quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock worth $673,000 after buying an additional 210 shares in the last quarter. NBT Bank N A NY raised its holdings in shares of FedEx by 15.1% in the 1st quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock worth $393,000 after purchasing an additional 215 shares during the period. Advisory Services Network LLC raised its holdings in shares of FedEx by 4.6% in the 2nd quarter. Advisory Services Network LLC now owns 5,237 shares of the shipping service provider’s stock worth $1,263,000 after purchasing an additional 230 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of FedEx by 10.6% in the 3rd quarter. Parkside Financial Bank & Trust now owns 2,422 shares of the shipping service provider’s stock worth $583,000 after purchasing an additional 233 shares during the period. Finally, Covenant Asset Management LLC raised its holdings in shares of FedEx by 3.3% in the 2nd quarter. Covenant Asset Management LLC now owns 7,250 shares of the shipping service provider’s stock worth $1,646,000 after purchasing an additional 234 shares during the period. 72.77% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on FDX. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. UBS Group cut shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target on the stock. in a report on Monday, July 16th. JPMorgan Chase & Co. reaffirmed a “buy” rating and issued a $305.00 price target on shares of FedEx in a report on Tuesday, September 18th. Morgan Stanley reaffirmed a “hold” rating and issued a $242.00 price target (down previously from $245.00) on shares of FedEx in a report on Tuesday, September 18th. Finally, Credit Suisse Group set a $307.00 price target on shares of FedEx and gave the stock a “buy” rating in a report on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $285.27.
FedEx (NYSE:FDX) last issued its earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). FedEx had a net margin of 7.16% and a return on equity of 23.71%. The business had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $16.88 billion. During the same period in the previous year, the firm earned $2.65 EPS. The company’s revenue was up 11.5% compared to the same quarter last year. Equities research analysts anticipate that FedEx Co. will post 17.36 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.18%. FedEx’s payout ratio is 16.98%.
In other news, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the transaction, the director now directly owns 32,800 shares in the company, valued at approximately $7,949,080. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 8.50% of the company’s stock.
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.
Featured Article: Retained Earnings
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.