Noesis Capital Mangement Corp acquired a new position in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 808 shares of the shipping service provider’s stock, valued at approximately $202,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Cerebellum GP LLC bought a new stake in shares of FedEx during the 4th quarter worth $125,000. Pinnacle Wealth Planning Services Inc. bought a new stake in shares of FedEx during the 4th quarter worth $144,000. Financial Engines Advisors L.L.C. bought a new stake in shares of FedEx during the 3rd quarter worth $132,000. Massey Quick Simon & CO. LLC acquired a new stake in shares of FedEx in the third quarter worth $136,000. Finally, Carroll Financial Associates Inc. boosted its position in shares of FedEx by 61.1% in the third quarter. Carroll Financial Associates Inc. now owns 633 shares of the shipping service provider’s stock worth $140,000 after buying an additional 240 shares during the period. 74.65% of the stock is owned by institutional investors and hedge funds.
In other FedEx news, COO David J. Bronczek sold 46,555 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now directly owns 48,562 shares in the company, valued at $12,407,105.38. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now owns 16,040 shares in the company, valued at $4,267,442. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 53,541 shares of company stock worth $13,692,142. Corporate insiders own 8.45% of the company’s stock.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business had revenue of $16.30 billion during the quarter, compared to analyst estimates of $15.67 billion. During the same period last year, the company earned $2.80 earnings per share. FedEx’s quarterly revenue was up 9.4% compared to the same quarter last year. sell-side analysts anticipate that FedEx Co. will post 13.45 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 2nd. Investors of record on Monday, March 12th will be issued a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, March 9th. This represents a $2.00 annualized dividend and a dividend yield of 0.80%. FedEx’s dividend payout ratio is 18.38%.
Several brokerages have recently commented on FDX. Citigroup raised their target price on FedEx to $275.00 and gave the stock a “buy” rating in a research report on Tuesday, December 12th. Barclays reaffirmed an “overweight” rating and issued a $270.00 target price (up previously from $230.00) on shares of FedEx in a research report on Thursday, November 30th. They noted that the move was a valuation call. Stifel Nicolaus raised their target price on FedEx from $221.00 to $272.00 and gave the stock a “hold” rating in a research report on Wednesday, December 20th. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a research report on Tuesday, December 12th. Finally, Robert W. Baird reaffirmed a “buy” rating and issued a $270.00 target price on shares of FedEx in a research report on Monday, February 12th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $275.04.
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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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