Garnet Equity Capital Holdings Inc. Raises Stake in FedEx Co. (FDX)

Share on StockTwits

Garnet Equity Capital Holdings Inc. increased its holdings in shares of FedEx Co. (NYSE:FDX) by 25.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 30,000 shares of the shipping service provider’s stock after acquiring an additional 6,000 shares during the period. FedEx makes up approximately 5.3% of Garnet Equity Capital Holdings Inc.’s holdings, making the stock its 4th largest holding. Garnet Equity Capital Holdings Inc.’s holdings in FedEx were worth $7,224,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vigilant Capital Management LLC acquired a new stake in FedEx during the second quarter worth approximately $114,000. Moneta Group Investment Advisors LLC grew its stake in FedEx by 14,117.1% in the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after acquiring an additional 63,386 shares during the period. Fortis Advisors LLC grew its stake in FedEx by 278.2% in the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares during the period. Lenox Wealth Advisors LLC acquired a new stake in FedEx in the third quarter valued at approximately $120,000. Finally, Qube Research & Technologies Ltd acquired a new stake in FedEx in the second quarter valued at approximately $129,000. 72.77% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on FDX shares. Credit Suisse Group raised their price objective on FedEx from $306.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday, June 20th. Morgan Stanley reduced their price objective on FedEx from $248.00 to $245.00 and set an “equal weight” rating for the company in a research note on Wednesday, June 20th. Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a research note on Thursday, June 21st. Loop Capital reduced their price objective on FedEx to $310.00 and set a “buy” rating for the company in a research note on Thursday, June 21st. Finally, UBS Group cut FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price objective for the company. in a research note on Monday, July 16th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the stock. FedEx presently has a consensus rating of “Buy” and an average target price of $285.27.

Shares of NYSE:FDX opened at $221.00 on Friday. The company has a market cap of $63.45 billion, a P/E ratio of 14.44, a P/E/G ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 12-month low of $214.17 and a 12-month high of $274.66.

FedEx (NYSE:FDX) last announced its earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The company had revenue of $17.05 billion for the quarter, compared to analysts’ expectations of $16.88 billion. FedEx had a net margin of 7.16% and a return on equity of 23.71%. The firm’s quarterly revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 EPS. As a group, research analysts predict that FedEx Co. will post 17.36 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Monday, October 1st. Investors of record on Monday, September 10th were given a dividend of $0.65 per share. The ex-dividend date was Friday, September 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. FedEx’s payout ratio is 16.98%.

In related news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the transaction, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 8.50% of the stock is owned by insiders.

FedEx Profile

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.

Further Reading: Bond

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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.

Leave a Reply