Hermes Investment Management Ltd. Boosts Stake in FedEx Corporation (FDX)
Hermes Investment Management Ltd. increased its position in FedEx Corporation (NYSE:FDX) by 7.6% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 5,659 shares of the shipping service provider’s stock after purchasing an additional 400 shares during the period. Hermes Investment Management Ltd.’s holdings in FedEx Corporation were worth $1,277,000 at the end of the most recent quarter.
Several other institutional investors have also recently bought and sold shares of FDX. Fort Washington Investment Advisors Inc. OH lifted its holdings in shares of FedEx Corporation by 86.7% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 5,357 shares of the shipping service provider’s stock valued at $1,045,000 after purchasing an additional 2,488 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in shares of FedEx Corporation by 1.2% in the 1st quarter. Artisan Partners Limited Partnership now owns 1,205,969 shares of the shipping service provider’s stock valued at $235,345,000 after purchasing an additional 14,099 shares during the last quarter. Comerica Securities Inc. lifted its holdings in shares of FedEx Corporation by 79.7% in the 1st quarter. Comerica Securities Inc. now owns 3,232 shares of the shipping service provider’s stock valued at $631,000 after purchasing an additional 1,433 shares during the last quarter. AXA lifted its holdings in shares of FedEx Corporation by 5.1% in the 1st quarter. AXA now owns 75,860 shares of the shipping service provider’s stock valued at $14,805,000 after purchasing an additional 3,683 shares during the last quarter. Finally, Burney Co. raised its stake in FedEx Corporation by 7.7% during the 1st quarter. Burney Co. now owns 14,552 shares of the shipping service provider’s stock valued at $2,840,000 after acquiring an additional 1,042 shares during the last quarter. 76.22% of the stock is owned by institutional investors and hedge funds.
FDX has been the subject of several analyst reports. Vetr downgraded FedEx Corporation to a “sell” rating and set a $204.84 price objective for the company. in a research note on Thursday, August 31st. J P Morgan Chase & Co upped their price objective on FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating and set a $233.00 price objective (down from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Robert W. Baird reaffirmed a “buy” rating and set a $235.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. Finally, Cowen and Company reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $230.21.
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Shares of FedEx Corporation (FDX) opened at $216.00 on Friday. The company has a market capitalization of $58,430.00, a price-to-earnings ratio of 18.47, a price-to-earnings-growth ratio of 1.38 and a beta of 1.37. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Corporation has a fifty-two week low of $182.89 and a fifty-two week high of $231.35.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. FedEx Corporation’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 EPS. equities research analysts forecast that FedEx Corporation will post 12.47 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.83%.
In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The disclosure for this sale can be found here. In the last quarter, insiders have sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is owned by insiders.
FedEx Corporation Company Profile
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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