RMR Wealth Builders bought a new position in FedEx Co. (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 345 shares of the shipping service provider’s stock, valued at approximately $48,000.
Several other institutional investors and hedge funds have also recently bought and sold shares of FDX. NewSquare Capital LLC grew its holdings in shares of FedEx by 215.4% in 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 FedEx in the 1st quarter valued at $27,000. Selective Wealth Management Inc. acquired a new stake in shares of FedEx in the 2nd quarter valued at $28,000. Hoover Financial Advisors Inc. acquired a new stake in shares of FedEx in the 2nd quarter valued at $28,000. Finally, Balentine LLC acquired a new stake in shares of FedEx in the 1st quarter valued at $29,000. 71.65% of the stock is currently owned by institutional investors and hedge funds.
In other FedEx news, EVP Brie Carere sold 1,307 shares of the business’s stock in a transaction dated Wednesday, August 12th. The shares were sold at an average price of $202.60, for a total transaction of $264,798.20. Following the sale, the executive vice president now directly owns 11,481 shares of the company’s stock, valued at approximately $2,326,050.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Robert B. Carter sold 21,480 shares of the stock in a transaction dated Wednesday, July 8th. The stock was sold at an average price of $157.53, for a total transaction of $3,383,744.40. Following the transaction, the executive vice president now owns 74,366 shares of the company’s stock, valued at $11,714,875.98. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 44,058 shares of company stock valued at $7,149,678. Insiders own 8.49% of the company’s stock.
NYSE FDX traded up $14.80 on Wednesday, reaching $251.47. The company had a trading volume of 570,335 shares, compared to its average volume of 3,039,629. The company’s fifty day moving average is $204.74 and its 200-day moving average is $148.86. The firm has a market capitalization of $62.01 billion, a price-to-earnings ratio of 51.10, a price-to-earnings-growth ratio of 1.84 and a beta of 1.48. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.53 and a current ratio of 1.58. FedEx Co. has a 1-year low of $88.69 and a 1-year high of $241.00.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 15th. The shipping service provider reported $4.87 earnings per share for the quarter, topping the consensus estimate of $2.69 by $2.18. The company had revenue of $19.32 billion during the quarter, compared to analysts’ expectations of $17.56 billion. FedEx had a return on equity of 13.49% and a net margin of 1.86%. FedEx’s revenue for the quarter was up 13.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.05 earnings per share. On average, research analysts forecast that FedEx Co. will post 10.52 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Friday, September 4th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date is Thursday, September 3rd. FedEx’s dividend payout ratio (DPR) is currently 27.37%.
Several research firms have recently commented on FDX. UBS Group lifted their target price on FedEx from $218.00 to $320.00 and gave the company a “buy” rating in a research note on Wednesday. Cowen lifted their target price on FedEx from $167.00 to $264.00 and gave the company an “outperform” rating in a research note on Friday, September 11th. Morgan Stanley lifted their target price on FedEx from $110.00 to $250.00 and gave the company an “equal weight” rating in a research note on Monday. Barclays lifted their target price on FedEx from $205.00 to $240.00 and gave the company an “equal weight” rating in a research note on Wednesday. Finally, BofA Securities lifted their price objective on FedEx from $160.00 to $177.00 and gave the stock a “buy” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a sell rating, eleven have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. FedEx presently has an average rating of “Buy” and a consensus price target of $247.85.
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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