Woodstock Corp decreased its position in shares of FedEx Co. (NYSE:FDX) by 3.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,093 shares of the shipping service provider’s stock after selling 125 shares during the quarter. Woodstock Corp’s holdings in FedEx were worth $574,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Retirement Network grew its holdings in shares of FedEx by 76.9% in the 1st quarter. Retirement Network now owns 207 shares of the shipping service provider’s stock valued at $25,000 after acquiring an additional 90 shares in the last quarter. NewSquare Capital LLC lifted its holdings in FedEx by 215.4% during the 1st quarter. NewSquare Capital LLC now owns 205 shares of the shipping service provider’s stock worth $25,000 after purchasing an additional 140 shares during the last quarter. Truvestments Capital LLC bought a new position in shares of FedEx during the first quarter worth approximately $27,000. Balentine LLC acquired a new stake in shares of FedEx during the 1st quarter worth $29,000. Finally, Private Capital Group LLC grew its stake in FedEx by 59.6% during the first quarter. Private Capital Group LLC now owns 257 shares of the shipping service provider’s stock worth $31,000 after buying an additional 96 shares in the last quarter. 73.98% of the stock is owned by institutional investors and hedge funds.
Shares of FDX traded up $2.90 during mid-day trading on Tuesday, hitting $159.17. 1,508,365 shares of the company traded hands, compared to its average volume of 3,263,061. The company has a market capitalization of $40.53 billion, a PE ratio of 32.31, a price-to-earnings-growth ratio of 1.32 and a beta of 1.32. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.87. FedEx Co. has a 1-year low of $88.69 and a 1-year high of $178.50. The business has a 50 day moving average of $133.93 and a 200 day moving average of $135.53.
FedEx (NYSE:FDX) last issued its earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 EPS for the quarter, beating the Zacks’ consensus estimate of $1.42 by $1.11. FedEx had a return on equity of 13.49% and a net margin of 1.86%. The firm had revenue of $17.36 billion for the quarter, compared to analyst estimates of $16.54 billion. During the same quarter in the prior year, the firm earned $5.01 earnings per share. FedEx’s revenue for the quarter was down 2.5% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 9.83 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Monday, June 29th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date of this dividend is Friday, June 26th. FedEx’s payout ratio is 27.37%.
In other news, CEO Frederick W. Smith sold 155,750 shares of the company’s stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $117.71, for a total value of $18,333,332.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Susan C. Schwab sold 10,570 shares of the firm’s stock in a transaction dated Monday, July 6th. The stock was sold at an average price of $155.58, for a total value of $1,644,480.60. 8.44% of the stock is currently owned by company insiders.
Several analysts recently issued reports on FDX shares. Credit Suisse Group increased their price target on shares of FedEx from $150.00 to $171.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Raymond James raised their price objective on FedEx from $150.00 to $165.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wells Fargo & Co raised their price objective on shares of FedEx from $153.00 to $179.00 and gave the company an “overweight” rating in a report on Wednesday, July 1st. Oppenheimer reaffirmed a “hold” rating on shares of FedEx in a research note on Wednesday, May 6th. Finally, Cowen upped their price target on FedEx from $156.00 to $167.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Two equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, fifteen have given a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $161.08.
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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