Baker Ellis Asset Management LLC grew its stake in FedEx Co. (NYSE:FDX) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,400 shares of the shipping service provider’s stock after purchasing an additional 50 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in FedEx were worth $398,000 as of its most recent SEC filing.
Several other hedge funds have also added to or reduced their stakes in FDX. CVA Family Office LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $26,000. Vectors Research Management LLC acquired a new position in shares of FedEx in the fourth quarter valued at about $26,000. RMR Wealth Builders acquired a new position in shares of FedEx in the fourth quarter valued at about $27,000. Lowe Wealth Advisors LLC grew its stake in shares of FedEx by 500.0% in the fourth quarter. Lowe Wealth Advisors LLC now owns 120 shares of the shipping service provider’s stock valued at $31,000 after acquiring an additional 100 shares in the last quarter. Finally, Curi Capital acquired a new position in shares of FedEx in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 72.74% of the company’s stock.
Shares of FDX stock opened at $304.55 on Tuesday. The company has a debt-to-equity ratio of 1.10, a quick ratio of 1.71 and a current ratio of 1.76. FedEx Co. has a fifty-two week low of $103.40 and a fifty-two week high of $305.66. The stock has a 50 day moving average price of $281.13 and a two-hundred day moving average price of $270.28. The company has a market capitalization of $80.81 billion, a P/E ratio of 33.14, a PEG ratio of 1.22 and a beta of 1.30.
FedEx (NYSE:FDX) last announced its earnings results on Wednesday, March 17th. The shipping service provider reported $3.47 EPS for the quarter, beating analysts’ consensus estimates of $3.21 by $0.26. The company had revenue of $21.51 billion during the quarter, compared to the consensus estimate of $19.90 billion. FedEx had a return on equity of 18.65% and a net margin of 3.28%. The firm’s revenue for the quarter was up 23.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.41 earnings per share. As a group, equities analysts predict that FedEx Co. will post 17.24 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Thursday, April 1st. Shareholders of record on Monday, March 8th were given a $0.65 dividend. The ex-dividend date was Friday, March 5th. This represents a $2.60 annualized dividend and a yield of 0.85%. FedEx’s payout ratio is 27.37%.
In other FedEx news, Director Kim Jabal sold 3,000 shares of the firm’s stock in a transaction dated Monday, February 8th. The stock was sold at an average price of $256.89, for a total value of $770,670.00. Following the transaction, the director now directly owns 3,750 shares of the company’s stock, valued at $963,337.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John L. Merino sold 10,000 shares of the firm’s stock in a transaction dated Monday, March 22nd. The stock was sold at an average price of $273.30, for a total value of $2,733,000.00. The disclosure for this sale can be found here. Insiders sold 133,251 shares of company stock worth $38,573,231 over the last three months. Insiders own 8.49% of the company’s stock.
A number of brokerages have issued reports on FDX. Raymond James increased their price objective on shares of FedEx from $305.00 to $310.00 and gave the stock an “outperform” rating in a research note on Thursday, March 25th. UBS Group reaffirmed a “buy” rating and set a $383.00 price objective on shares of FedEx in a report on Friday, March 19th. Robert W. Baird reiterated a “buy” rating on shares of FedEx in a research note on Sunday, February 21st. KeyCorp upgraded FedEx from a “sector weight” rating to an “overweight” rating and set a $350.00 target price on the stock in a research note on Monday, April 19th. Finally, JPMorgan Chase & Co. set a $340.00 target price on FedEx and gave the stock a “buy” rating in a research note on Thursday, April 8th. One analyst has rated the stock with a sell rating, four have given a hold rating, twenty-two have given a buy rating and one has given a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $315.56.
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border e-commerce technology and e-commerce transportation solutions.
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