American National Bank raised its holdings in FedEx Co. (NYSE:FDX – Get Rating) by 30.6% in the fourth quarter, Holdings Channel.com reports. The fund owned 533 shares of the shipping service provider’s stock after acquiring an additional 125 shares during the quarter. American National Bank’s holdings in FedEx were worth $92,000 as of its most recent SEC filing.
A number of other institutional investors have also recently added to or reduced their stakes in FDX. Renaissance Technologies LLC acquired a new stake in FedEx in the third quarter valued at approximately $122,633,000. Mawer Investment Management Ltd. bought a new position in shares of FedEx in the second quarter valued at approximately $181,239,000. FMR LLC raised its position in shares of FedEx by 15.6% in the second quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider’s stock valued at $929,536,000 after purchasing an additional 554,395 shares during the period. Sachem Head Capital Management LP bought a new position in shares of FedEx in the second quarter valued at approximately $111,972,000. Finally, BlackRock Inc. raised its position in shares of FedEx by 2.9% in the third quarter. BlackRock Inc. now owns 16,818,843 shares of the shipping service provider’s stock valued at $2,497,094,000 after purchasing an additional 469,345 shares during the period. 72.02% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other FedEx news, Director Amy B. Lane bought 280 shares of the firm’s stock in a transaction dated Tuesday, January 3rd. The shares were bought at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the acquisition, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 8.62% of the company’s stock.
FedEx Stock Performance
FedEx (NYSE:FDX – Get Rating) last released its quarterly earnings data on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.67 by $0.74. FedEx had a return on equity of 19.17% and a net margin of 3.54%. The firm had revenue of $22.17 billion during the quarter, compared to analyst estimates of $22.74 billion. During the same period in the prior year, the company posted $4.59 earnings per share. The business’s revenue for the quarter was down 6.2% compared to the same quarter last year. As a group, analysts anticipate that FedEx Co. will post 13.53 EPS for the current fiscal year.
FedEx Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Monday, April 3rd. Shareholders of record on Monday, March 13th will be paid a dividend of $1.15 per share. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.60 annualized dividend and a yield of 2.09%. FedEx’s dividend payout ratio is currently 36.14%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on FDX shares. UBS Group set a $260.00 price target on shares of FedEx in a research report on Friday. Robert W. Baird lifted their price target on shares of FedEx from $230.00 to $250.00 in a research report on Friday. Susquehanna lifted their price target on shares of FedEx from $170.00 to $225.00 in a research report on Friday. Stephens raised their price objective on shares of FedEx from $200.00 to $290.00 and gave the stock an “overweight” rating in a research note on Friday. Finally, Barclays raised their price objective on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a research note on Friday. Ten investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $230.75.
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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