DAVENPORT & Co LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,564 shares of the shipping service provider’s stock after acquiring an additional 5,272 shares during the quarter. DAVENPORT & Co LLC owned about 0.12% of FedEx worth $58,335,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Berman Capital Advisors LLC acquired a new position in FedEx in the fourth quarter valued at about $25,000. Cordasco Financial Network lifted its stake in FedEx by 181.8% in the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock valued at $28,000 after buying an additional 100 shares during the period. Northwest Wealth Management LLC lifted its stake in FedEx by 842.1% in the fourth quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after buying an additional 160 shares during the period. Sound Income Strategies LLC lifted its stake in FedEx by 1,666.7% in the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after buying an additional 200 shares during the period. Finally, Advocacy Wealth Management Services LLC lifted its stake in FedEx by 52.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after buying an additional 63 shares during the period. 71.70% of the stock is currently owned by institutional investors and hedge funds.
NYSE:FDX opened at $198.06 on Thursday. The company has a quick ratio of 1.40, a current ratio of 1.46 and a debt-to-equity ratio of 0.87. The stock has a market cap of $51.12 billion, a P/E ratio of 12.94, a PEG ratio of 0.99 and a beta of 1.62. FedEx Co. has a 52-week low of $150.94 and a 52-week high of $266.67.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were issued a dividend of $0.65 per share. The ex-dividend date was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.31%. FedEx’s payout ratio is presently 16.98%.
Several equities analysts have weighed in on FDX shares. Daiwa Capital Markets set a $190.00 target price on FedEx and gave the company a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. BMO Capital Markets cut their target price on FedEx to $245.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reissued a “buy” rating and issued a $233.00 target price on shares of FedEx in a research note on Monday, December 24th. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $214.19.
In related news, VP John L. Merino sold 2,300 shares of the stock in a transaction dated Monday, February 4th. The stock was sold at an average price of $182.24, for a total transaction of $419,152.00. Following the completion of the transaction, the vice president now directly owns 30,185 shares in the company, valued at $5,500,914.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction dated Wednesday, March 27th. The stock was sold at an average price of $175.11, for a total value of $525,330.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 187,950 shares of company stock valued at $35,170,622. 8.50% of the stock is owned by corporate insiders.
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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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