American National Bank grew its holdings in FedEx Co. (NYSE:FDX) by 16.9% in the 4th quarter, HoldingsChannel reports. The fund owned 16,593 shares of the shipping service provider’s stock after buying an additional 2,400 shares during the period. American National Bank’s holdings in FedEx were worth $2,677,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of the business. Sound Income Strategies LLC lifted its holdings in shares of FedEx by 1,666.7% during the fourth quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after purchasing an additional 200 shares during the period. North Star Investment Management Corp. lifted its holdings in shares of FedEx by 101.8% during the fourth quarter. North Star Investment Management Corp. now owns 442 shares of the shipping service provider’s stock worth $71,000 after purchasing an additional 223 shares during the period. Palo Capital Inc. acquired a new stake in shares of FedEx during the third quarter worth about $108,000. Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of FedEx during the third quarter worth about $110,000. Finally, Lenox Wealth Advisors LLC acquired a new stake in shares of FedEx during the third quarter worth about $120,000. 72.44% of the stock is owned by institutional investors and hedge funds.
FDX stock traded up $0.88 during trading on Friday, hitting $171.00. 142,337 shares of the company traded hands, compared to its average volume of 3,703,933. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The stock has a market cap of $44.53 billion, a P/E ratio of 11.17, a P/E/G ratio of 0.84 and a beta of 1.63. FedEx Co. has a 1 year low of $150.94 and a 1 year high of $274.66.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion during the quarter, compared to analysts’ expectations of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same quarter last year, the firm earned $3.18 earnings per share. On average, research analysts predict that FedEx Co. will post 15.91 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 2nd. Stockholders of record on Monday, December 10th were given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.52%. The ex-dividend date of this dividend was Friday, December 7th. FedEx’s dividend payout ratio (DPR) is presently 16.98%.
In other FedEx news, Director Susan Patricia Griffith acquired 1,000 shares of the business’s stock in a transaction dated Wednesday, October 17th. The stock was acquired at an average cost of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David P. Steiner acquired 7,000 shares of the business’s stock in a transaction dated Wednesday, January 2nd. The stock was acquired at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the completion of the transaction, the director now directly owns 25,994 shares of the company’s stock, valued at $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is owned by insiders.
A number of equities research analysts recently commented on the company. Berenberg Bank reaffirmed a “buy” rating and set a $245.00 target price on shares of FedEx in a report on Monday. Morgan Stanley set a $240.00 target price on FedEx and gave the stock a “hold” rating in a report on Monday, October 22nd. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, December 12th. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $305.00 target price on shares of FedEx in a report on Tuesday, September 18th. Finally, Credit Suisse Group decreased their target price on FedEx from $263.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, December 19th. Two analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $237.75.
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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