Quantbot Technologies LP acquired a new stake in shares of FedEx Co. (NYSE:FDX) during the 3rd quarter, according to its most recent 13F filing with the SEC. The firm acquired 10,139 shares of the shipping service provider’s stock, valued at approximately $2,287,000.
Other hedge funds have also recently made changes to their positions in the company. Salem Investment Counselors Inc. grew its stake in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC grew its stake in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares in the last quarter. FNY Managed Accounts LLC purchased a new position in shares of FedEx in the 1st quarter worth $100,000. Alexandria Capital LLC grew its stake in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new position in shares of FedEx in the 3rd quarter worth $132,000. Hedge funds and other institutional investors own 75.60% of the company’s stock.
A number of equities analysts recently commented on the stock. Argus lifted their price target on shares of FedEx from $245.00 to $290.00 and gave the stock a “buy” rating in a research note on Tuesday. Zacks Investment Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $272.00 price target for the company in a research note on Thursday, December 21st. Oppenheimer reiterated a “buy” rating and set a $265.00 price objective (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Citigroup reiterated a “buy” rating and set a $280.00 price objective on shares of FedEx in a report on Wednesday, December 20th. Finally, Stephens set a $306.00 price objective on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, December 20th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the company. The stock has an average rating of “Buy” and an average target price of $259.58.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The firm had revenue of $16.30 billion during the quarter, compared to analysts’ expectations of $15.67 billion. During the same period in the previous year, the business posted $2.80 EPS. The business’s revenue was up 9.4% compared to the same quarter last year. equities analysts forecast that FedEx Co. will post 12.96 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a $0.50 dividend. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is currently 18.43%.
In other FedEx news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at $8,395,219.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Robert B. Carter sold 3,970 shares of the company’s stock in a transaction on Thursday, December 21st. The stock was sold at an average price of $250.73, for a total transaction of $995,398.10. Following the transaction, the executive vice president now owns 187,025 shares of the company’s stock, valued at $46,892,778.25. The disclosure for this sale can be found here. Over the last quarter, insiders sold 19,100 shares of company stock valued at $4,440,416. Company insiders own 8.45% of the company’s stock.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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