Diamant Asset Management Inc. trimmed its position in shares of FedEx Co. (NYSE:FDX – Free Report) by 4.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,760 shares of the shipping service provider’s stock after selling 75 shares during the period. Diamant Asset Management Inc.’s holdings in FedEx were worth $495,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the company. Geode Capital Management LLC boosted its holdings in FedEx by 1.5% during the third quarter. Geode Capital Management LLC now owns 4,689,791 shares of the shipping service provider’s stock valued at $1,281,335,000 after purchasing an additional 67,502 shares in the last quarter. Franklin Resources Inc. boosted its stake in FedEx by 8.6% in the 3rd quarter. Franklin Resources Inc. now owns 3,975,531 shares of the shipping service provider’s stock valued at $1,042,050,000 after buying an additional 314,380 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its position in FedEx by 0.7% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 1,699,179 shares of the shipping service provider’s stock valued at $465,031,000 after acquiring an additional 11,100 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of FedEx by 0.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,451,576 shares of the shipping service provider’s stock valued at $397,267,000 after acquiring an additional 13,093 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in shares of FedEx by 473.8% in the 3rd quarter. International Assets Investment Management LLC now owns 784,691 shares of the shipping service provider’s stock valued at $2,147,540,000 after purchasing an additional 647,926 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.
Insider Buying and Selling at FedEx
In other news, Director Susan C. Schwab sold 3,980 shares of the firm’s stock in a transaction on Tuesday, January 14th. The shares were sold at an average price of $276.45, for a total transaction of $1,100,271.00. Following the completion of the transaction, the director now owns 8,904 shares of the company’s stock, valued at approximately $2,461,510.80. This trade represents a 30.89 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 333 shares of FedEx stock in a transaction that occurred on Thursday, December 26th. The stock was acquired at an average cost of $276.06 per share, for a total transaction of $91,927.98. Following the purchase, the director now owns 333 shares of the company’s stock, valued at $91,927.98. The trade was a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 8.87% of the company’s stock.
FedEx Stock Performance
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Thursday, December 19th. The shipping service provider reported $4.05 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.17. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The company had revenue of $22 billion for the quarter, compared to analysts’ expectations of $22.14 billion. During the same quarter last year, the business earned $3.99 earnings per share. FedEx’s revenue was down .7% on a year-over-year basis. Equities research analysts predict that FedEx Co. will post 19.14 earnings per share for the current year.
FedEx Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, January 3rd. Shareholders of record on Monday, December 9th were paid a dividend of $1.38 per share. This represents a $5.52 annualized dividend and a yield of 1.96%. The ex-dividend date was Monday, December 9th. FedEx’s payout ratio is presently 35.18%.
Wall Street Analyst Weigh In
A number of research analysts have recently issued reports on FDX shares. Sanford C. Bernstein cut shares of FedEx from an “outperform” rating to a “market perform” rating and cut their target price for the company from $337.00 to $316.00 in a research note on Tuesday, December 3rd. TD Cowen raised their price target on FedEx from $328.00 to $337.00 and gave the company a “buy” rating in a report on Friday, December 20th. BNP Paribas upgraded FedEx from a “strong sell” rating to a “strong-buy” rating in a research report on Thursday, January 16th. UBS Group boosted their target price on FedEx from $311.00 to $350.00 and gave the stock a “buy” rating in a research report on Friday, December 20th. Finally, Bank of America lifted their price objective on shares of FedEx from $325.00 to $348.00 and gave the stock a “buy” rating in a research note on Friday, December 20th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $325.43.
About FedEx
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
Featured Articles
- Five stocks we like better than FedEx
- What is a Low P/E Ratio and What Does it Tell Investors?
- NuScale Power Stock Leads Energy Gains – Can It Continue?
- What Does a Gap Up Mean in Stocks? How to Play the Gap
- Traders Sell SoFi Stock Post Earnings: Should Investors Jump In?
- How to Most Effectively Use the MarketBeat Earnings Screener
- Insider Selling in Tech Stocks Spikes in Q4
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.