Steinberg Global Asset Management cut its holdings in FedEx Co. (NYSE:FDX) by 4.1% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 13,135 shares of the shipping service provider’s stock after selling 568 shares during the period. Steinberg Global Asset Management’s holdings in FedEx were worth $3,154,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also modified their holdings of the company. Cordasco Financial Network increased its holdings in shares of FedEx by 181.8% during the 1st 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. Berman Capital Advisors LLC acquired a new stake in shares of FedEx during the 4th quarter worth $25,000. Northwest Wealth Management LLC increased its holdings in shares of FedEx by 842.1% during the 4th quarter. Northwest Wealth Management LLC now owns 179 shares of the shipping service provider’s stock worth $29,000 after buying an additional 160 shares during the last quarter. Advocacy Wealth Management Services LLC increased its holdings in shares of FedEx by 52.5% during the 1st quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock worth $34,000 after buying an additional 63 shares during the last quarter. Finally, Sound Income Strategies LLC increased its holdings in shares of FedEx by 1,666.7% during the 4th quarter. Sound Income Strategies LLC now owns 212 shares of the shipping service provider’s stock worth $34,000 after buying an additional 200 shares during the last quarter. Institutional investors own 71.73% of the company’s stock.
NYSE:FDX traded down $0.77 on Monday, reaching $196.18. The stock had a trading volume of 1,775,037 shares, compared to its average volume of 2,062,442. 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 stock has a market cap of $51.38 billion, a P/E ratio of 12.81, a PEG ratio of 0.97 and a beta of 1.62. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $266.67.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing analysts’ consensus estimates of $3.10 by ($0.07). The firm had revenue of $17.01 billion during the quarter, compared to analysts’ expectations of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. The business’s quarterly revenue was up 2.9% on a year-over-year basis. During the same period in the previous year, the company earned $3.72 earnings per share. As a group, equities analysts expect that FedEx Co. will post 15.48 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were given a $0.65 dividend. The ex-dividend date was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.33%. FedEx’s payout ratio is currently 16.98%.
Several analysts recently issued reports on the company. JPMorgan Chase & Co. reiterated a “buy” rating and issued a $256.00 price target on shares of FedEx in a report on Tuesday, December 18th. Daiwa Capital Markets downgraded FedEx from an “outperform” rating to a “neutral” rating and lowered their price target for the company from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Credit Suisse Group lowered their price target on FedEx from $263.00 to $236.00 and set an “outperform” rating for the company in a report on Wednesday, December 19th. Deutsche Bank lowered their price target on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a report on Wednesday, December 19th. Finally, UBS Group lowered their price target on FedEx from $256.00 to $205.00 and set a “neutral” rating for the company in a report on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $214.19.
In other FedEx news, VP John L. Merino sold 2,300 shares of the company’s stock in a transaction dated Monday, February 4th. The shares were sold at an average price of $182.24, for a total value of $419,152.00. Following the completion of the transaction, the vice president now directly owns 30,185 shares of the company’s stock, valued at approximately $5,500,914.40. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Alan B. Graf, Jr. sold 27,000 shares of the company’s stock in a transaction dated Thursday, March 21st. The shares were sold at an average price of $173.30, for a total transaction of $4,679,100.00. Following the completion of the transaction, the executive vice president now directly owns 200,320 shares of the company’s stock, valued at $34,715,456. The disclosure for this sale can be found here. Over the last three months, insiders sold 187,950 shares of company stock valued at $35,170,622. 8.50% of the stock is currently owned by corporate insiders.
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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