Ninepoint Partners LP Takes Position in FedEx Co. (FDX)
Ninepoint Partners LP purchased a new stake in FedEx Co. (NYSE:FDX) during the third quarter, according to its most recent filing with the SEC. The firm purchased 3,779 shares of the shipping service provider’s stock, valued at approximately $852,000.
Several other large investors have also recently made changes to their positions in the stock. FNY Managed Accounts LLC bought a new stake in FedEx during the 1st quarter worth approximately $100,000. Salem Investment Counselors Inc. increased its stake in FedEx by 2.8% during the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after purchasing an additional 13 shares in the last quarter. Krilogy Financial LLC increased its stake in FedEx by 0.4% during the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after purchasing an additional 2 shares in the last quarter. Alexandria Capital LLC increased its stake in FedEx by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after purchasing an additional 13 shares in the last quarter. Finally, Financial Engines Advisors L.L.C. bought a new stake in FedEx during the 3rd quarter worth approximately $132,000. Institutional investors and hedge funds own 75.74% of the company’s stock.
In related news, Director Kim Jabal sold 3,980 shares of the firm’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now directly owns 6,080 shares of the company’s stock, valued at $1,371,344. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock valued at $9,024,637 over the last three months. 8.45% of the stock is owned by company insiders.
Shares of FedEx Co. (NYSE FDX) traded up $0.99 on Thursday, hitting $236.39. 1,523,300 shares of the stock traded hands, compared to its average volume of 1,476,526. The company has a market cap of $63,121.97, a PE ratio of 19.76, a P/E/G ratio of 1.48 and a beta of 1.36. FedEx Co. has a one year low of $182.89 and a one year high of $243.06. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the prior year, the business earned $2.90 earnings per share. FedEx’s revenue was up 4.1% compared to the same quarter last year. equities research analysts forecast that FedEx Co. will post 12.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.85%. FedEx’s dividend payout ratio is presently 18.87%.
A number of research firms recently issued reports on FDX. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx in a research note on Wednesday, August 16th. Wells Fargo & Company increased their target price on FedEx from $235.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 21st. Loop Capital reissued a “buy” rating and set a $260.00 target price (up from $250.00) on shares of FedEx in a research note on Wednesday, September 20th. Cowen reissued a “buy” rating and set a $240.00 target price on shares of FedEx in a research note on Thursday, August 10th. Finally, UBS cut FedEx from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $235.00 to $233.00 in a research note on Friday, September 15th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. FedEx currently has an average rating of “Buy” and a consensus price target of $231.81.
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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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