Boston Private Wealth LLC Has $21.76 Million Stake in FedEx Co. (FDX)

Boston Private Wealth LLC grew its holdings in shares of FedEx Co. (NYSE:FDX) by 0.4% in the third quarter, Holdings Channel reports. The institutional investor owned 90,349 shares of the shipping service provider’s stock after acquiring an additional 368 shares during the period. Boston Private Wealth LLC’s holdings in FedEx were worth $21,755,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. D.A. Davidson & CO. boosted its holdings in FedEx by 21.4% during the third quarter. D.A. Davidson & CO. now owns 42,061 shares of the shipping service provider’s stock worth $10,128,000 after purchasing an additional 7,426 shares during the last quarter. Freestone Capital Holdings LLC boosted its holdings in FedEx by 7.4% during the third quarter. Freestone Capital Holdings LLC now owns 9,488 shares of the shipping service provider’s stock worth $2,285,000 after purchasing an additional 657 shares during the last quarter. Hoylecohen LLC boosted its holdings in FedEx by 6.4% during the third quarter. Hoylecohen LLC now owns 4,797 shares of the shipping service provider’s stock worth $1,155,000 after purchasing an additional 290 shares during the last quarter. Miracle Mile Advisors LLC boosted its holdings in FedEx by 5.9% during the third quarter. Miracle Mile Advisors LLC now owns 10,808 shares of the shipping service provider’s stock worth $2,602,000 after purchasing an additional 600 shares during the last quarter. Finally, Carret Asset Management LLC boosted its holdings in FedEx by 1.5% during the third quarter. Carret Asset Management LLC now owns 22,602 shares of the shipping service provider’s stock worth $5,442,000 after purchasing an additional 329 shares during the last quarter. Hedge funds and other institutional investors own 71.23% of the company’s stock.

NYSE FDX opened at $223.40 on Monday. FedEx Co. has a 12-month low of $207.90 and a 12-month high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. The company has a market capitalization of $58.87 billion, a PE ratio of 14.59, a price-to-earnings-growth ratio of 1.01 and a beta of 1.36.

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

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a dividend yield of 1.16%. The ex-dividend date is Friday, December 7th. FedEx’s dividend payout ratio (DPR) is currently 16.98%.

Several research analysts recently weighed in on FDX shares. JPMorgan Chase & Co. restated a “buy” rating and set a $286.00 price target on shares of FedEx in a report on Friday, October 12th. Berenberg Bank started coverage on shares of FedEx in a report on Friday, September 21st. They set a “buy” rating and a $300.00 price target on the stock. Citigroup dropped their target price on shares of FedEx from $304.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, November 2nd. Bank of America dropped their target price on shares of FedEx from $310.00 to $304.00 and set a “buy” rating on the stock in a research note on Tuesday, September 18th. Finally, Wolfe Research set a $275.00 target price on shares of FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. One analyst has rated the stock with a sell rating, two have given a hold rating and nineteen have assigned a buy rating to the stock. The company has an average rating of “Buy” and an average price target of $285.57.

In related news, Director John A. Edwardson sold 1,160 shares of the company’s stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the sale, the director now owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Susan Patricia Griffith bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 17th. The shares were purchased at an average cost of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. Insiders own 8.50% of the company’s stock.

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FedEx Company 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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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