Westbourne Investment Advisors Inc. acquired a new stake in shares of FedEx Co. (NYSE:FDX) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,120 shares of the shipping service provider’s stock, valued at approximately $203,000.
Other large investors have also recently modified their holdings of the company. HC Financial Advisors Inc. raised its stake in FedEx by 5.9% in the third quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock worth $2,007,000 after buying an additional 464 shares in the last quarter. Dodge & Cox raised its stake in FedEx by 20.0% in the third quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after buying an additional 2,065,853 shares in the last quarter. EP Wealth Advisors LLC bought a new position in FedEx in the third quarter worth about $253,000. Point72 Asset Management L.P. raised its stake in FedEx by 365.0% in the third quarter. Point72 Asset Management L.P. now owns 46,500 shares of the shipping service provider’s stock worth $11,197,000 after buying an additional 36,500 shares in the last quarter. Finally, Thrivent Financial for Lutherans raised its stake in FedEx by 2.3% in the third quarter. Thrivent Financial for Lutherans now owns 10,557 shares of the shipping service provider’s stock worth $2,542,000 after buying an additional 234 shares in the last quarter. 71.73% of the stock is owned by hedge funds and other institutional investors.
In related news, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Susan C. Schwab sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total transaction of $525,330.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 187,950 shares of company stock worth $35,170,622. Corporate insiders own 8.50% of the company’s stock.
FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm had revenue of $17.01 billion for the quarter, compared to analysts’ expectations of $17.70 billion. During the same quarter in the previous year, the company earned $3.72 EPS. The company’s quarterly revenue was up 2.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Co. will post 15.48 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, April 1st. Stockholders of record on Monday, March 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.33%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 16.98%.
A number of equities analysts recently issued reports on FDX shares. JPMorgan Chase & Co. reissued a “buy” rating and issued a $256.00 price target on shares of FedEx in a research note on Tuesday, December 18th. Berenberg Bank restated a “buy” rating and issued a $245.00 price objective on shares of FedEx in a report on Monday, January 7th. Robert W. Baird cut their price objective on shares of FedEx from $225.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, December 19th. ValuEngine upgraded shares of FedEx from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Finally, UBS Group cut their price objective on shares of FedEx from $234.00 to $200.00 and set an “outperform” rating on the stock in a report on Thursday, January 10th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $214.19.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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