Dynamic Technology Lab Private Ltd bought a new stake in shares of FedEx Co. (NYSE:FDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 11,800 shares of the shipping service provider’s stock, valued at approximately $2,679,000. FedEx accounts for about 0.4% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 22nd largest position.
Other hedge funds and other institutional investors have also bought and sold shares of the company. FormulaFolio Investments LLC increased its position in FedEx by 27.4% during the 2nd quarter. FormulaFolio Investments LLC now owns 6,201 shares of the shipping service provider’s stock valued at $1,408,000 after purchasing an additional 1,335 shares during the period. Homrich & Berg increased its position in FedEx by 21.0% during the 2nd quarter. Homrich & Berg now owns 3,130 shares of the shipping service provider’s stock valued at $711,000 after purchasing an additional 544 shares during the period. Achmea Investment Management B.V. increased its position in FedEx by 24.4% during the 2nd quarter. Achmea Investment Management B.V. now owns 4,356 shares of the shipping service provider’s stock valued at $987,000 after purchasing an additional 853 shares during the period. Palladium Partners LLC increased its position in FedEx by 5.4% during the 2nd quarter. Palladium Partners LLC now owns 39,210 shares of the shipping service provider’s stock valued at $8,904,000 after purchasing an additional 2,026 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its position in FedEx by 12.9% during the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 22,465 shares of the shipping service provider’s stock valued at $5,101,000 after purchasing an additional 2,561 shares during the period. 72.52% of the stock is currently owned by institutional investors and hedge funds.
FDX has been the topic of a number of research reports. Zacks Investment Research downgraded shares of FedEx from a “buy” rating to a “hold” rating in a research report on Thursday, June 21st. Loop Capital lowered their price target on shares of FedEx to $310.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. UBS Group cut shares of FedEx from a “buy” rating to a “neutral” rating and set a $256.00 price target on the stock. in a report on Monday, July 16th. Citigroup raised their price target on shares of FedEx from $274.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, May 16th. Finally, Morgan Stanley raised their price target on shares of FedEx from $240.00 to $248.00 and gave the company an “equal weight” rating in a report on Monday, June 4th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $287.70.
FDX stock opened at $246.19 on Friday. The company has a market capitalization of $64.72 billion, a P/E ratio of 15.98, a P/E/G ratio of 1.11 and a beta of 1.45. The company has a quick ratio of 1.33, a current ratio of 1.39 and a debt-to-equity ratio of 0.79. FedEx Co. has a 52 week low of $209.67 and a 52 week high of $274.66.
FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 19th. The shipping service provider reported $5.91 EPS for the quarter, topping analysts’ consensus estimates of $5.72 by $0.19. The company had revenue of $17.31 billion during the quarter, compared to analysts’ expectations of $17.24 billion. FedEx had a net margin of 6.99% and a return on equity of 23.17%. FedEx’s revenue for the quarter was up 10.1% on a year-over-year basis. During the same period last year, the business earned $4.25 EPS. equities research analysts forecast that FedEx Co. will post 17.31 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 1st. Investors of record on Monday, September 10th will be paid a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a yield of 1.06%. The ex-dividend date of this dividend is Friday, September 7th. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
FedEx Company Profile
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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