Landsberg Bennett & Dubbaneh LLC lessened its stake in shares of FedEx Co. (NYSE:FDX) by 7.0% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,466 shares of the shipping service provider’s stock after selling 111 shares during the quarter. Landsberg Bennett & Dubbaneh LLC’s holdings in FedEx were worth $212,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its stake in shares of FedEx by 22.0% in the second quarter. Oregon Public Employees Retirement Fund now owns 107,419 shares of the shipping service provider’s stock worth $17,637,000 after purchasing an additional 19,349 shares during the last quarter. InterOcean Capital LLC grew its stake in shares of FedEx by 8.0% in the second quarter. InterOcean Capital LLC now owns 160,442 shares of the shipping service provider’s stock worth $26,343,000 after purchasing an additional 11,932 shares during the last quarter. Heritage Investors Management Corp lifted its holdings in FedEx by 4.3% in the second quarter. Heritage Investors Management Corp now owns 76,800 shares of the shipping service provider’s stock valued at $12,610,000 after buying an additional 3,189 shares during the period. Greylin Investment Mangement Inc. lifted its holdings in FedEx by 25.7% in the second quarter. Greylin Investment Mangement Inc. now owns 10,717 shares of the shipping service provider’s stock valued at $1,760,000 after buying an additional 2,194 shares during the period. Finally, First Dallas Securities Inc. lifted its holdings in FedEx by 7.4% in the first quarter. First Dallas Securities Inc. now owns 6,133 shares of the shipping service provider’s stock valued at $1,113,000 after buying an additional 425 shares during the period. 71.32% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FDX opened at $145.54 on Friday. The firm’s 50-day moving average price is $153.52 and its 200-day moving average price is $166.89. 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 $37.97 billion, a P/E ratio of 9.38, a P/E/G ratio of 0.96 and a beta of 1.72. The company has a current ratio of 1.31, a quick ratio of 1.25 and a debt-to-equity ratio of 1.70.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $0.65 per share. The ex-dividend date of this dividend was Friday, September 6th. This represents a $2.60 annualized dividend and a dividend yield of 1.79%. FedEx’s dividend payout ratio is currently 16.75%.
In other FedEx news, Director R Brad Martin bought 1,000 shares of the stock in a transaction that occurred on Friday, September 27th. The shares were bought at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the acquisition, the director now directly owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of the company’s stock in a transaction dated Wednesday, July 24th. The stock was sold at an average price of $175.78, for a total transaction of $4,060,518.00. Following the completion of the sale, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. 8.44% of the stock is currently owned by corporate insiders.
FDX has been the topic of several recent analyst reports. Sanford C. Bernstein lowered shares of FedEx from an “outperform” rating to a “market perform” rating and set a $153.00 target price on the stock. in a report on Wednesday. Loop Capital dropped their target price on shares of FedEx to $200.00 and set a “buy” rating on the stock in a report on Monday, September 23rd. Standpoint Research upgraded shares of FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Wolfe Research set a $184.00 target price on shares of FedEx and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Stifel Nicolaus lowered shares of FedEx from a “buy” rating to a “hold” rating and dropped their target price for the company from $185.00 to $171.00 in a report on Wednesday, September 18th. Three 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. FedEx presently has an average rating of “Hold” and a consensus price target of $171.64.
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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