American National Bank lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 15.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,180 shares of the shipping service provider’s stock after buying an additional 2,587 shares during the period. American National Bank’s holdings in FedEx were worth $3,479,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. Cordasco Financial Network lifted its stake in FedEx by 181.8% in the 1st quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock valued at $28,000 after purchasing an additional 100 shares during the last quarter. Berman Capital Advisors LLC acquired a new stake in FedEx in the 4th quarter valued at about $25,000. Northwest Wealth Management LLC lifted its stake in FedEx by 842.1% in the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock valued at $29,000 after purchasing an additional 160 shares during the last quarter. Advocacy Wealth Management Services LLC lifted its stake in FedEx by 52.5% in the 1st 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. Finally, Sound Income Strategies LLC lifted its stake in FedEx by 1,666.7% in the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 200 shares during the last quarter. Institutional investors own 71.73% of the company’s stock.
In other news, Director Susan C. Schwab sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total transaction of $525,330.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Frederick W. Smith sold 155,650 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the transaction, the chief executive officer now directly owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,950 shares of company stock worth $35,170,622. Insiders own 8.50% of the company’s stock.
Several equities research analysts recently issued reports on FDX shares. Daiwa Capital Markets set a $190.00 target price on shares of FedEx and gave the company a “buy” rating in a research note on Thursday, December 20th. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a research note on Tuesday, March 19th. BMO Capital Markets cut their target price on shares of FedEx to $245.00 and set an “outperform” rating for the company in a research note on Wednesday, December 19th. They noted that the move was a valuation call. ValuEngine upgraded shares of FedEx from a “strong sell” rating to a “sell” rating in a research note on Wednesday, December 26th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating and issued a $233.00 target price on shares of FedEx in a research note on Monday, December 24th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have given a buy rating to the company. FedEx presently has a consensus rating of “Buy” and an average target price of $214.19.
FedEx stock opened at $196.95 on Monday. The stock has a market capitalization of $51.32 billion, a price-to-earnings ratio of 12.86, a P/E/G ratio of 0.97 and a beta of 1.62. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87. FedEx Co. has a twelve month low of $150.94 and a twelve month high of $266.67.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.10 by ($0.07). The company had revenue of $17.01 billion during the quarter, compared to the consensus estimate of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The firm’s revenue was up 2.9% compared to the same quarter last year. During the same period in the prior year, the company earned $3.72 earnings per share. As a group, equities analysts forecast that FedEx Co. will post 15.48 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a $0.65 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.60 annualized dividend and a yield of 1.32%. FedEx’s dividend payout ratio is currently 16.98%.
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FedEx Corp. engages in the provision of a portfolio of transportation, e-commerce, and business services. It operates through the following segments: FedEx Express, TNT Express, FedEx Ground, FedEx Freight, FedEx Services, and Other. The FedEx Express segment consists of domestic and international shipping services for delivery of packages, and freight.
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