Investors purchased shares of FedEx Co. (NYSE:FDX) on weakness during trading hours on Thursday. $102.87 million flowed into the stock on the tick-up and $70.65 million flowed out of the stock on the tick-down, for a money net flow of $32.22 million into the stock. Of all stocks tracked, FedEx had the 25th highest net in-flow for the day. FedEx traded down ($0.47) for the day and closed at $170.12
A number of equities analysts recently weighed in on FDX shares. Berenberg Bank reiterated a “buy” rating and issued a $245.00 price objective on shares of FedEx in a research report on Monday. Morgan Stanley set a $240.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Monday, October 22nd. Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Finally, Credit Suisse Group dropped their target price on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and an average target price of $237.75.
The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The firm has a market cap of $42.92 billion, a P/E ratio of 11.11, a P/E/G ratio of 0.81 and a beta of 1.63.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were paid a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.53%. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
In other FedEx news, Director David P. Steiner bought 7,000 shares of FedEx stock in a transaction dated Wednesday, January 2nd. The stock was acquired at an average cost of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the transaction, the director now directly owns 25,994 shares of the company’s stock, valued at $4,234,942.48. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Susan Patricia Griffith acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average price of $225.16 per share, with a total value of $225,160.00. The disclosure for this purchase can be found here. 8.50% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in FDX. North Star Investment Management Corp. boosted its position in shares of FedEx by 101.8% during the 4th quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 223 shares in the last quarter. Palo Capital Inc. purchased a new stake in shares of FedEx during the 3rd quarter worth about $108,000. Virtus Alternative Investment Advisers Inc. purchased a new position in FedEx in the 3rd quarter worth approximately $110,000. Moneta Group Investment Advisors LLC boosted its stake in shares of FedEx by 14,117.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after buying an additional 63,386 shares during the last quarter. Finally, Lenox Wealth Advisors LLC purchased a new position in shares of FedEx during the 3rd quarter valued at approximately $120,000. 72.44% of the stock is currently owned by institutional investors.
About FedEx (NYSE:FDX)
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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