Trinity Street Asset Management LLP decreased its position in FedEx Co. (NYSE:FDX) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 201,366 shares of the shipping service provider’s stock after selling 1,933 shares during the period. FedEx comprises approximately 6.6% of Trinity Street Asset Management LLP’s portfolio, making the stock its 5th biggest holding. Trinity Street Asset Management LLP owned 0.08% of FedEx worth $50,248,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. Salem Investment Counselors Inc. lifted its position in shares of FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares in the last quarter. Krilogy Financial LLC lifted its position in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares in the last quarter. Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx during the third quarter worth $132,000. Massey Quick Simon & CO. LLC purchased a new stake in shares of FedEx during the third quarter worth $136,000. Finally, Carroll Financial Associates Inc. lifted its position in shares of FedEx by 61.1% during the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after acquiring an additional 240 shares in the last quarter. Institutional investors and hedge funds own 75.69% of the company’s stock.
Several research firms have issued reports on FDX. Bank of America restated a “buy” rating and set a $315.00 target price on shares of FedEx in a research report on Friday. BMO Capital Markets restated a “buy” rating and set a $300.00 target price on shares of FedEx in a research report on Monday, January 8th. Robert W. Baird restated a “buy” rating and set a $280.00 target price on shares of FedEx in a research report on Tuesday, January 9th. Zacks Investment Research upgraded FedEx from a “hold” rating to a “buy” rating and set a $297.00 target price on the stock in a research report on Friday, January 5th. Finally, UBS Group upgraded FedEx from a “neutral” rating to a “buy” rating and increased their target price for the stock from $264.00 to $302.00 in a research report on Friday, January 5th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $269.95.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.80 earnings per share. equities research analysts forecast that FedEx Co. will post 13.13 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a $0.50 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.73%. FedEx’s payout ratio is currently 18.38%.
In related news, COO David J. Bronczek sold 46,555 shares of the stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares of the company’s stock, valued at $12,407,105.38. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the completion of the transaction, the director now directly owns 16,040 shares in the company, valued at approximately $4,267,442. The disclosure for this sale can be found here. In the last three months, insiders sold 68,671 shares of company stock worth $17,137,160. 8.45% of the stock is owned by insiders.
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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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