FedEx Co. (FDX) Holdings Trimmed by GFS Advisors LLC
GFS Advisors LLC lowered its holdings in shares of FedEx Co. (NYSE:FDX) by 64.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,556 shares of the shipping service provider’s stock after selling 2,800 shares during the period. GFS Advisors LLC’s holdings in FedEx were worth $351,000 as of its most recent SEC filing.
A number of other institutional investors have also made changes to their positions in FDX. Salem Investment Counselors Inc. grew its holdings in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC grew its holdings in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after acquiring an additional 2 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in shares of FedEx in the 1st quarter worth $100,000. Alexandria Capital LLC grew its holdings in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Massey Quick Simon & CO. LLC purchased a new position in shares of FedEx during the third quarter valued at $136,000. 75.74% of the stock is currently owned by hedge funds and other institutional investors.
In other FedEx news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock valued at $9,024,637 in the last ninety days. Insiders own 8.45% of the company’s stock.
FedEx Co. (FDX) traded down $3.65 on Wednesday, reaching $235.40. The company had a trading volume of 1,592,000 shares, compared to its average volume of 1,476,326. FedEx Co. has a 52-week low of $182.89 and a 52-week high of $243.06. The firm has a market capitalization of $64,100.71, a PE ratio of 20.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.36. 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 (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. During the same period in the prior year, the firm earned $2.90 EPS. FedEx’s quarterly revenue was up 4.1% on a year-over-year basis. research analysts forecast that FedEx Co. will post 12.47 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be given a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.85%. FedEx’s dividend payout ratio is currently 18.87%.
A number of research analysts have recently weighed in on FDX shares. Vetr downgraded FedEx to a “sell” rating and set a $204.84 price target on the stock. in a report on Thursday, August 31st. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. BMO Capital Markets reiterated a “buy” rating and set a $245.00 price target on shares of FedEx in a report on Wednesday, September 6th. Bank of America reiterated a “buy” rating and set a $247.00 price target (up previously from $240.00) on shares of FedEx in a report on Friday, October 6th. Finally, Credit Suisse Group reiterated an “outperform” rating and set a $233.00 price target (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx has an average rating of “Buy” and a consensus price target of $231.81.
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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