Clearstead Advisors LLC raised its stake in FedEx Co. (NYSE:FDX – Get Rating) by 35.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 2,355 shares of the shipping service provider’s stock after buying an additional 612 shares during the quarter. Clearstead Advisors LLC’s holdings in FedEx were worth $350,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in FedEx by 1.2% in the third quarter. Vanguard Group Inc. now owns 18,835,505 shares of the shipping service provider’s stock valued at $2,796,508,000 after buying an additional 220,183 shares in the last quarter. Dodge & Cox raised its holdings in shares of FedEx by 0.6% in the second quarter. Dodge & Cox now owns 17,426,647 shares of the shipping service provider’s stock valued at $3,950,795,000 after purchasing an additional 98,022 shares during the last quarter. BlackRock Inc. raised its holdings in shares of FedEx by 2.9% in the third quarter. BlackRock Inc. now owns 16,818,843 shares of the shipping service provider’s stock valued at $2,497,094,000 after purchasing an additional 469,345 shares during the last quarter. Primecap Management Co. CA raised its holdings in shares of FedEx by 3.3% in the third quarter. Primecap Management Co. CA now owns 13,878,717 shares of the shipping service provider’s stock valued at $2,060,573,000 after purchasing an additional 445,125 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of FedEx by 15.6% in the second quarter. FMR LLC now owns 4,100,112 shares of the shipping service provider’s stock valued at $929,536,000 after purchasing an additional 554,395 shares during the last quarter. Institutional investors own 72.02% of the company’s stock.
Insider Buying and Selling
In other news, Director Amy B. Lane acquired 280 shares of the business’s stock in a transaction that occurred on Tuesday, January 3rd. The stock was acquired at an average price of $175.83 per share, with a total value of $49,232.40. Following the completion of the transaction, the director now directly owns 1,529 shares of the company’s stock, valued at approximately $268,844.07. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 8.62% of the stock is currently owned by company insiders.
FedEx Trading Up 0.3 %
FedEx (NYSE:FDX – Get Rating) last announced its earnings results on Tuesday, December 20th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.77 by $0.41. The company had revenue of $22.81 billion during the quarter, compared to analysts’ expectations of $23.66 billion. FedEx had a net margin of 3.54% and a return on equity of 19.17%. As a group, sell-side analysts forecast that FedEx Co. will post 13.5 EPS for the current year.
FedEx Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, April 3rd. Stockholders of record on Monday, March 13th will be given a $1.15 dividend. The ex-dividend date is Friday, March 10th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.32%. FedEx’s payout ratio is presently 36.14%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on FDX. Morgan Stanley lifted their price objective on shares of FedEx from $130.00 to $145.00 and gave the company an “equal weight” rating in a report on Monday, January 9th. Jefferies Financial Group boosted their target price on shares of FedEx from $170.00 to $175.00 and gave the stock a “hold” rating in a report on Thursday, December 22nd. JPMorgan Chase & Co. boosted their target price on shares of FedEx from $179.00 to $199.00 and gave the stock a “neutral” rating in a report on Friday, March 3rd. Wells Fargo & Company boosted their target price on shares of FedEx from $185.00 to $225.00 in a report on Friday, March 10th. Finally, Robert W. Baird lowered their target price on shares of FedEx from $240.00 to $230.00 in a report on Thursday, December 15th. Eleven research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $210.88.
FedEx Profile
FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.
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