Williams Jones & Associates LLC Has $36.49 Million Position in FedEx Co. (NYSE:FDX)
Williams Jones & Associates LLC increased its stake in shares of FedEx Co. (NYSE:FDX) by 25.5% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 201,130 shares of the shipping service provider’s stock after acquiring an additional 40,879 shares during the period. Williams Jones & Associates LLC’s holdings in FedEx were worth $36,487,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Berman Capital Advisors LLC acquired a new position in FedEx during the fourth quarter worth approximately $25,000. Cordasco Financial Network increased its position in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC acquired a new position in shares of FedEx in the first quarter valued at approximately $29,000. Evolution Wealth Advisors LLC acquired a new position in shares of FedEx in the first quarter valued at approximately $31,000. Finally, Advocacy Wealth Management Services LLC grew its position in shares of FedEx by 52.5% in the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 69.45% of the company’s stock.
NYSE:FDX traded up $2.27 during trading hours on Wednesday, reaching $161.71. 1,029,565 shares of the company were exchanged, compared to its average volume of 2,037,284. The company has a market capitalization of $41.18 billion, a P/E ratio of 10.56, a P/E/G ratio of 0.76 and a beta of 1.69. FedEx Co. has a 1-year low of $150.68 and a 1-year high of $266.67. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.46 and a quick ratio of 1.40.
The business also recently declared a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.61%. The ex-dividend date is Friday, June 21st. FedEx’s dividend payout ratio is currently 16.98%.
In other FedEx news, EVP Alan B. Graf, Jr. sold 27,000 shares of the company’s stock in a transaction on Thursday, March 21st. The stock was sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the sale, the executive vice president now directly owns 200,320 shares in the company, valued at $34,715,456. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 155,650 shares of the company’s stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total value of $29,547,039.50. Following the sale, the chief executive officer now owns 14,945,124 shares of the company’s stock, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders have sold 185,650 shares of company stock worth $34,751,470 in the last three months. 8.50% of the stock is currently owned by company insiders.
Several equities analysts have recently commented on FDX shares. UBS Group decreased their target price on FedEx from $161.00 to $145.00 and set a “sell” rating on the stock in a research report on Friday, May 31st. Berenberg Bank downgraded FedEx from a “buy” rating to a “hold” rating and decreased their target price for the company from $245.00 to $200.00 in a research report on Monday, April 1st. JPMorgan Chase & Co. downgraded FedEx from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $227.00 to $202.00 in a research report on Wednesday, March 20th. Credit Suisse Group upped their target price on FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a research report on Wednesday, March 20th. Finally, Cowen reaffirmed an “outperform” rating and issued a $237.00 target price (down previously from $242.00) on shares of FedEx in a research report on Thursday, March 14th. Three analysts have rated the stock with a sell rating, six have issued a hold rating and thirteen have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $203.86.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides 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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