Blue Edge Capital LLC purchased a new stake in FedEx Co. (NYSE:FDX) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,638 shares of the shipping service provider’s stock, valued at approximately $1,723,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Trust Co. of Vermont lifted its holdings in shares of FedEx by 2.2% in the third quarter. Trust Co. of Vermont now owns 1,764 shares of the shipping service provider’s stock valued at $444,000 after purchasing an additional 38 shares in the last quarter. Holderness Investments Co. boosted its position in FedEx by 0.6% during the 3rd quarter. Holderness Investments Co. now owns 5,891 shares of the shipping service provider’s stock worth $1,482,000 after acquiring an additional 38 shares during the period. Wealthcare Advisory Partners LLC boosted its position in FedEx by 1.4% during the 3rd quarter. Wealthcare Advisory Partners LLC now owns 2,780 shares of the shipping service provider’s stock worth $699,000 after acquiring an additional 39 shares during the period. IHT Wealth Management LLC grew its stake in FedEx by 1.8% during the 3rd quarter. IHT Wealth Management LLC now owns 2,324 shares of the shipping service provider’s stock valued at $584,000 after acquiring an additional 40 shares in the last quarter. Finally, Mcmillion Capital Management Inc. increased its holdings in shares of FedEx by 0.5% in the 4th quarter. Mcmillion Capital Management Inc. now owns 8,819 shares of the shipping service provider’s stock valued at $2,290,000 after purchasing an additional 43 shares during the period. 72.74% of the stock is currently owned by institutional investors.
In related news, Director Kim Jabal sold 3,000 shares of the stock in a transaction dated Monday, February 8th. The shares were sold at an average price of $256.89, for a total value of $770,670.00. Following the completion of the transaction, the director now owns 3,750 shares of the company’s stock, valued at $963,337.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 8.49% of the company’s stock.
FedEx (NYSE:FDX) last released its earnings results on Wednesday, December 16th. The shipping service provider reported $4.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $4.01 by $0.82. FedEx had a net margin of 3.28% and a return on equity of 18.65%. The business had revenue of $20.56 billion during the quarter, compared to analysts’ expectations of $19.45 billion. During the same quarter last year, the company earned $2.51 earnings per share. The firm’s revenue was up 18.7% on a year-over-year basis. As a group, sell-side analysts predict that FedEx Co. will post 17.24 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 1st. Investors of record on Monday, March 8th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, March 5th. FedEx’s dividend payout ratio (DPR) is presently 27.37%.
A number of brokerages recently commented on FDX. UBS Group boosted their price objective on shares of FedEx from $320.00 to $380.00 and gave the company a “buy” rating in a research report on Tuesday, December 8th. Argus upped their price target on shares of FedEx from $270.00 to $305.00 and gave the stock a “buy” rating in a research note on Wednesday, December 30th. Robert W. Baird reaffirmed a “buy” rating on shares of FedEx in a research note on Sunday. Oppenheimer reaffirmed a “hold” rating on shares of FedEx in a research note on Friday, December 18th. Finally, Wolfe Research downgraded shares of FedEx from an “outperform” rating to a “market perform” rating in a research note on Thursday, January 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $312.00.
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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