Haverford Trust Co. lifted its holdings in FedEx Co. (NYSE:FDX) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 502,770 shares of the shipping service provider’s stock after purchasing an additional 24,327 shares during the quarter. Haverford Trust Co. owned 0.19% of FedEx worth $73,188,000 as of its most recent filing with the SEC.
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Other large investors have also added to or reduced their stakes in the company. BlackRock Inc. lifted its position in shares of FedEx by 9.5% during the 2nd quarter. BlackRock Inc. now owns 16,165,179 shares of the shipping service provider’s stock worth $2,654,161,000 after buying an additional 1,395,988 shares during the period. Parnassus Investments CA grew its stake in shares of FedEx by 17.1% during the third quarter. Parnassus Investments CA now owns 4,099,219 shares of the shipping service provider’s stock worth $596,723,000 after purchasing an additional 599,344 shares during the period. Canada Pension Plan Investment Board grew its stake in shares of FedEx by 3.0% during the second quarter. Canada Pension Plan Investment Board now owns 3,620,516 shares of the shipping service provider’s stock worth $594,453,000 after purchasing an additional 106,871 shares during the period. LSV Asset Management grew its stake in shares of FedEx by 21.5% during the second quarter. LSV Asset Management now owns 2,413,416 shares of the shipping service provider’s stock worth $396,258,000 after purchasing an additional 426,529 shares during the period. Finally, Morgan Stanley grew its stake in shares of FedEx by 26.7% during the second quarter. Morgan Stanley now owns 2,025,572 shares of the shipping service provider’s stock worth $332,579,000 after purchasing an additional 427,019 shares during the period. 71.57% of the stock is owned by institutional investors.
A number of equities research analysts recently commented on the company. Zacks Investment Research cut FedEx from a “hold” rating to a “sell” rating and set a $161.00 price objective for the company. in a research note on Thursday, August 29th. Standpoint Research upgraded FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Sanford C. Bernstein lowered FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 price target on the stock. in a report on Wednesday, October 9th. Cowen cut their price target on FedEx from $206.00 to $190.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Finally, Stephens set a $192.00 price target on FedEx and gave the company a “buy” rating in a report on Wednesday, September 18th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and sixteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $170.40.
In other FedEx news, Director John A. Edwardson purchased 5,000 shares of the stock in a transaction on Thursday, October 31st. The stock was acquired at an average cost of $151.75 per share, with a total value of $758,750.00. Following the completion of the purchase, the director now directly owns 62,966 shares of the company’s stock, valued at approximately $9,555,090.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin purchased 1,000 shares of the stock in a transaction on Friday, September 27th. The stock was acquired at an average cost of $145.00 per share, with a total value of $145,000.00. Following the completion of the purchase, the director now directly owns 49,046 shares of the company’s stock, valued at $7,111,670. The disclosure for this purchase can be found here. Insiders own 8.44% of the company’s stock.
Shares of FDX traded up $1.65 during trading hours on Friday, hitting $158.33. The stock had a trading volume of 1,350,363 shares, compared to its average volume of 2,267,047. FedEx Co. has a 1-year low of $137.78 and a 1-year high of $234.49. The firm has a market capitalization of $42.06 billion, a P/E ratio of 10.20, a price-to-earnings-growth ratio of 1.11 and a beta of 1.72. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.31 and a quick ratio of 1.25. The firm has a 50 day simple moving average of $151.48 and a 200-day simple moving average of $161.36.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, September 17th. The shipping service provider reported $3.05 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). The firm had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. FedEx had a return on equity of 21.15% and a net margin of 0.65%. FedEx’s quarterly revenue was up .0% compared to the same quarter last year. During the same period in the prior year, the business earned $3.46 EPS. Equities analysts predict that FedEx Co. will post 12.11 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, January 2nd. Stockholders of record on Monday, December 9th will be issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.64%. FedEx’s dividend payout ratio is currently 16.75%.
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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