SFE Investment Counsel boosted its holdings in FedEx Co. (NYSE:FDX) by 2.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,262 shares of the shipping service provider’s stock after buying an additional 368 shares during the period. SFE Investment Counsel’s holdings in FedEx were worth $4,255,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also modified their holdings of the company. Wagner Wealth Management LLC bought a new position in FedEx in the 1st quarter worth approximately $25,000. WD Rutherford LLC bought a new stake in shares of FedEx during the first quarter valued at approximately $51,000. Northern Oak Wealth Management Inc. increased its position in shares of FedEx by 103.1% during the first quarter. Northern Oak Wealth Management Inc. now owns 197 shares of the shipping service provider’s stock valued at $56,000 after purchasing an additional 100 shares during the period. Founders Financial Alliance LLC bought a new stake in shares of FedEx during the first quarter valued at approximately $59,000. Finally, Sumitomo Mitsui Financial Group Inc. bought a new stake in shares of FedEx during the first quarter valued at approximately $66,000. 72.64% of the stock is currently owned by institutional investors.
In other FedEx news, CEO John Alan Smith sold 11,285 shares of FedEx stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $296.00, for a total transaction of $3,340,360.00. Following the transaction, the chief executive officer now directly owns 16,386 shares of the company’s stock, valued at approximately $4,850,256. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Susan C. Schwab sold 4,720 shares of FedEx stock in a transaction dated Tuesday, June 29th. The stock was sold at an average price of $297.30, for a total value of $1,403,256.00. Following the transaction, the director now directly owns 10,312 shares in the company, valued at $3,065,757.60. The disclosure for this sale can be found here. Insiders have sold a total of 32,240 shares of company stock worth $9,608,596 over the last ninety days. Company insiders own 8.16% of the company’s stock.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Wednesday, June 23rd. The shipping service provider reported $5.01 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $4.99 by $0.02. The firm had revenue of $22.57 billion during the quarter, compared to analysts’ expectations of $21.54 billion. FedEx had a net margin of 6.23% and a return on equity of 22.55%. The company’s revenue was up 30.0% on a year-over-year basis. During the same period in the prior year, the company posted $2.53 EPS. On average, analysts forecast that FedEx Co. will post 21.27 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 1st. Shareholders of record on Friday, September 3rd will be issued a dividend of $0.75 per share. This represents a $3.00 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend is Thursday, September 2nd. FedEx’s payout ratio is presently 16.51%.
A number of analysts have recently issued reports on FDX shares. Barclays boosted their price objective on FedEx from $360.00 to $375.00 and gave the company an “overweight” rating in a research report on Wednesday, June 23rd. Wells Fargo & Company boosted their price target on FedEx from $336.00 to $351.00 and gave the company an “overweight” rating in a research note on Thursday, May 20th. Berenberg Bank set a $350.00 price target on FedEx and gave the company a “buy” rating in a research note on Friday, May 28th. Raymond James boosted their price target on FedEx from $310.00 to $330.00 and gave the company an “outperform” rating in a research note on Friday, June 4th. Finally, Deutsche Bank Aktiengesellschaft boosted their price objective on FedEx from $318.00 to $375.00 and gave the stock a “buy” rating in a research note on Monday, June 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-one have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $344.52.
FedEx Corp. is a holding company, which engages in the provision of a portfolio of transportation, e-commerce, and business services. 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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