Exane Asset Management Takes $216,000 Position in FedEx Co. (FDX)
Exane Asset Management purchased a new position in FedEx Co. (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 951 shares of the shipping service provider’s stock, valued at approximately $216,000.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Roof Eidam & Maycock ADV grew its stake in shares of FedEx by 4.4% in the 1st quarter. Roof Eidam & Maycock ADV now owns 4,981 shares of the shipping service provider’s stock valued at $1,196,000 after buying an additional 210 shares in the last quarter. D.B. Root & Company LLC boosted its position in FedEx by 7.6% during the second quarter. D.B. Root & Company LLC now owns 2,964 shares of the shipping service provider’s stock worth $673,000 after purchasing an additional 210 shares during the period. SevenBridge Financial Group LLC boosted its position in FedEx by 4.9% during the first quarter. SevenBridge Financial Group LLC now owns 4,527 shares of the shipping service provider’s stock worth $1,087,000 after purchasing an additional 213 shares during the period. NBT Bank N A NY boosted its position in FedEx by 15.1% during the first quarter. NBT Bank N A NY now owns 1,636 shares of the shipping service provider’s stock worth $393,000 after purchasing an additional 215 shares during the period. Finally, Elite Wealth Management Inc. boosted its position in FedEx by 8.1% during the first quarter. Elite Wealth Management Inc. now owns 2,975 shares of the shipping service provider’s stock worth $714,000 after purchasing an additional 223 shares during the period. Hedge funds and other institutional investors own 72.77% of the company’s stock.
FedEx stock traded up $3.58 during mid-day trading on Friday, hitting $221.00. The stock had a trading volume of 2,866,641 shares, compared to its average volume of 1,718,134. FedEx Co. has a 12 month low of $214.17 and a 12 month high of $274.66. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. The stock has a market cap of $63.45 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.09 and a beta of 1.44.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were given a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a dividend yield of 1.18%. The ex-dividend date of this dividend was Friday, September 7th. FedEx’s dividend payout ratio is currently 16.98%.
FDX has been the subject of a number of research analyst reports. Zacks Investment Research lowered FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Berenberg Bank began coverage on FedEx in a report on Friday, September 21st. They set a “buy” rating and a $300.00 price target for the company. Morgan Stanley restated a “hold” rating and issued a $242.00 target price (down from $245.00) on shares of FedEx in a research note on Tuesday, September 18th. JPMorgan Chase & Co. restated a “buy” rating and issued a $305.00 target price on shares of FedEx in a research note on Tuesday, September 18th. Finally, Wolfe Research set a $275.00 target price on FedEx and gave the company a “buy” rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. FedEx currently has a consensus rating of “Buy” and an average target price of $285.27.
In other news, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction dated Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the sale, the director now owns 32,800 shares of the company’s stock, valued at $7,949,080. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 8.50% of the company’s stock.
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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