First Citizens Bank & Trust Co. lowered its stake in shares of FedEx Co. (NYSE:FDX) by 20.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 6,110 shares of the shipping service provider’s stock after selling 1,554 shares during the period. First Citizens Bank & Trust Co.’s holdings in FedEx were worth $1,586,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in the stock. Fisher Asset Management LLC acquired a new stake in FedEx in the 3rd quarter worth approximately $292,000. Thrivent Financial for Lutherans lifted its stake in shares of FedEx by 17.1% in the third quarter. Thrivent Financial for Lutherans now owns 12,908 shares of the shipping service provider’s stock worth $3,247,000 after buying an additional 1,886 shares during the last quarter. Engineers Gate Manager LP boosted its holdings in shares of FedEx by 1,156.2% during the 3rd quarter. Engineers Gate Manager LP now owns 42,409 shares of the shipping service provider’s stock worth $10,667,000 after buying an additional 39,033 shares during the period. AQR Capital Management LLC grew its stake in FedEx by 251.9% in the 3rd quarter. AQR Capital Management LLC now owns 135,625 shares of the shipping service provider’s stock valued at $34,112,000 after buying an additional 97,081 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in FedEx by 1.8% in the 3rd quarter. Pitcairn Co. now owns 6,674 shares of the shipping service provider’s stock worth $1,679,000 after acquiring an additional 116 shares during the period. Institutional investors and hedge funds own 68.36% of the company’s stock.
FDX has been the topic of several research analyst reports. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell raised their price target on FedEx from $300.00 to $365.00 in a research report on Thursday, December 3rd. Deutsche Bank Aktiengesellschaft raised FedEx from a “hold” rating to a “buy” rating and raised their target price for the company from $243.00 to $318.00 in a report on Monday, September 28th. Stifel Nicolaus raised FedEx from a “hold” rating to a “buy” rating and increased their price objective for the company from $175.00 to $281.00 in a research report on Thursday, September 24th. Raymond James boosted their target price on shares of FedEx from $280.00 to $305.00 and gave the stock an “outperform” rating in a research report on Friday, December 18th. Finally, Citigroup increased their price target on shares of FedEx from $260.00 to $300.00 and gave the company a “buy” rating in a report on Wednesday, September 16th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $312.00.
Shares of FedEx stock opened at $252.22 on Thursday. The stock has a market capitalization of $66.86 billion, a price-to-earnings ratio of 27.45, a P/E/G ratio of 1.33 and a beta of 1.34. The firm’s 50-day moving average price is $274.18 and its two-hundred day moving average price is $237.45. The company has a current ratio of 1.76, a quick ratio of 1.71 and a debt-to-equity ratio of 1.10. FedEx Co. has a 1-year low of $88.69 and a 1-year high of $305.66.
FedEx (NYSE:FDX) last posted its earnings results on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.01 by $0.82. The company had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $19.45 billion. FedEx had a net margin of 3.28% and a return on equity of 18.65%. FedEx’s quarterly revenue was up 18.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.51 earnings per share. As a group, equities research analysts predict that FedEx Co. will post 17.02 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, December 28th. Shareholders of record on Monday, December 14th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, December 11th. This represents a $2.60 annualized dividend and a yield of 1.03%. FedEx’s payout ratio is 27.37%.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. Its FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment offers 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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