IFM Investors Pty Ltd lifted its position in FedEx Co. (NYSE:FDX) by 14.7% during the first quarter, Holdings Channel reports. The institutional investor owned 16,735 shares of the shipping service provider’s stock after buying an additional 2,144 shares during the quarter. IFM Investors Pty Ltd’s holdings in FedEx were worth $3,036,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc grew its position in FedEx by 0.5% during the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after purchasing an additional 96,084 shares during the last quarter. Oregon Public Employees Retirement Fund grew its position in FedEx by 15,104.4% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Dodge & Cox grew its position in FedEx by 20.0% during the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after purchasing an additional 2,065,853 shares during the last quarter. Northern Trust Corp grew its position in FedEx by 3.0% during the 4th quarter. Northern Trust Corp now owns 2,859,318 shares of the shipping service provider’s stock worth $461,295,000 after purchasing an additional 84,617 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in FedEx by 7.2% during the 4th quarter. Geode Capital Management LLC now owns 2,746,237 shares of the shipping service provider’s stock worth $442,149,000 after purchasing an additional 185,252 shares during the last quarter. 71.70% of the stock is currently owned by hedge funds and other institutional investors.
A number of research firms have recently issued reports on FDX. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $174.00 target price on shares of FedEx in a report on Thursday, March 28th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, March 19th. Barclays dropped their price objective on shares of FedEx from $235.00 to $215.00 and set an “overweight” rating for the company in a report on Wednesday, March 20th. Daiwa Capital Markets set a $190.00 price objective on shares of FedEx and gave the company a “buy” rating in a report on Thursday, December 20th. Finally, Bank of America reissued a “neutral” rating and issued a $188.00 price objective (down previously from $193.00) on shares of FedEx in a report on Wednesday, March 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and fourteen have assigned a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $214.19.
NYSE FDX opened at $198.15 on Friday. FedEx Co. has a 12 month low of $150.94 and a 12 month high of $266.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. The stock has a market capitalization of $51.63 billion, a price-to-earnings ratio of 12.94, a P/E/G ratio of 0.99 and a beta of 1.62.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The company had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. During the same period in the previous year, the company earned $3.72 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, analysts predict that FedEx Co. will post 15.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.31%. FedEx’s payout ratio is currently 16.98%.
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FedEx Company Profile
FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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