Harel Insurance Investments & Financial Services Ltd. Sells 500 Shares of FedEx Co. (FDX)

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Harel Insurance Investments & Financial Services Ltd. reduced its holdings in shares of FedEx Co. (NYSE:FDX) by 12.6% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,471 shares of the shipping service provider’s stock after selling 500 shares during the period. Harel Insurance Investments & Financial Services Ltd.’s holdings in FedEx were worth $836,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. BlackRock Inc. boosted its holdings in shares of FedEx by 0.9% in the 2nd quarter. BlackRock Inc. now owns 15,172,550 shares of the shipping service provider’s stock valued at $3,445,080,000 after buying an additional 134,397 shares in the last quarter. FMR LLC boosted its holdings in shares of FedEx by 4.5% in the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock valued at $1,040,600,000 after buying an additional 197,188 shares in the last quarter. Morgan Stanley boosted its holdings in shares of FedEx by 3.7% in the 2nd quarter. Morgan Stanley now owns 1,577,356 shares of the shipping service provider’s stock valued at $358,156,000 after buying an additional 56,831 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FedEx by 0.6% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,481,717 shares of the shipping service provider’s stock valued at $336,439,000 after buying an additional 8,792 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in shares of FedEx by 8.5% in the 3rd quarter. Bank of Montreal Can now owns 1,036,861 shares of the shipping service provider’s stock valued at $249,665,000 after buying an additional 81,315 shares in the last quarter. 72.91% of the stock is currently owned by hedge funds and other institutional investors.

FDX stock opened at $211.04 on Tuesday. FedEx Co. has a one year low of $207.90 and a one year high of $274.66. The firm has a market capitalization of $55.48 billion, a PE ratio of 13.78, a PEG ratio of 0.95 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79.

FedEx (NYSE:FDX) last released its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm had revenue of $17.05 billion during the quarter, compared to analyst estimates of $16.88 billion. During the same quarter last year, the business posted $2.65 EPS. The firm’s revenue was up 11.5% on a year-over-year basis. As a group, research analysts expect that FedEx Co. will post 17.35 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.23%. The ex-dividend date of this dividend was Friday, September 7th. FedEx’s dividend payout ratio (DPR) is presently 16.98%.

Several research analysts have recently issued reports on FDX shares. Wolfe Research set a $275.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Tuesday, September 18th. Loop Capital increased their price target on shares of FedEx to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Berenberg Bank initiated coverage on shares of FedEx in a research note on Friday, September 21st. They set a “buy” rating and a $300.00 price target for the company. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research note on Friday, September 7th. Finally, Robert W. Baird increased their price target on shares of FedEx from $265.00 to $270.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 18th. Three research analysts have rated the stock with a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $285.18.

In related news, Director Susan Patricia Griffith purchased 1,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director John A. Edwardson sold 1,160 shares of the stock in a transaction dated Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the transaction, the director now owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The disclosure for this sale can be found here. 8.50% of the stock is currently owned by company insiders.

About FedEx

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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