FedEx Co. (FDX) Shares Sold by Los Angeles Capital Management & Equity Research Inc.
Los Angeles Capital Management & Equity Research Inc. lessened its position in FedEx Co. (NYSE:FDX) by 25.7% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,717 shares of the shipping service provider’s stock after selling 594 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in FedEx were worth $387,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. BlackRock Inc. increased its position in FedEx by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock valued at $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. Harbour Capital Advisors LLC increased its position in FedEx by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after buying an additional 1,418,066 shares in the last quarter. Davis Selected Advisers increased its position in FedEx by 265.4% during the 2nd quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock valued at $366,118,000 after buying an additional 1,223,646 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of FedEx by 5.4% in the 1st quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after purchasing an additional 918,896 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of FedEx by 381.6% in the 2nd quarter. Janus Henderson Group PLC now owns 883,117 shares of the shipping service provider’s stock worth $191,934,000 after purchasing an additional 699,728 shares in the last quarter. Institutional investors own 75.74% of the company’s stock.
In other news, EVP Donald F. Colleran sold 10,000 shares of FedEx stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at $6,709,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of FedEx stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock worth $9,024,637 over the last 90 days. Company insiders own 8.45% of the company’s stock.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the firm earned $2.90 earnings per share. FedEx’s revenue was up 4.1% on a year-over-year basis. analysts forecast that FedEx Co. will post 12.47 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a $0.50 dividend. The ex-dividend date of this dividend is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.87%. FedEx’s payout ratio is 18.87%.
FDX has been the subject of a number of research analyst reports. Vetr lowered FedEx to a “sell” rating and set a $204.84 target price for the company. in a report on Thursday, August 31st. J P Morgan Chase & Co lifted their target price on FedEx from $237.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Goldman Sachs Group initiated coverage on FedEx in a report on Monday, November 13th. They issued a “buy” rating and a $270.00 target price for the company. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 target price (down previously from $242.00) on shares of FedEx in a report on Friday, September 15th. Finally, Robert W. Baird reissued a “buy” rating and issued a $235.00 target price on shares of FedEx in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $231.81.
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FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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