FedEx Co. (FDX) Shares Bought by Granite Investment Partners LLC
Granite Investment Partners LLC boosted its position in shares of FedEx Co. (NYSE:FDX) by 108.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,856 shares of the shipping service provider’s stock after purchasing an additional 2,006 shares during the period. Granite Investment Partners LLC’s holdings in FedEx were worth $870,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. FNY Managed Accounts LLC acquired a new stake in shares of FedEx during the 1st quarter valued at $100,000. Salem Investment Counselors Inc. lifted its stake in shares of FedEx by 2.8% in the 2nd quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after purchasing an additional 13 shares during the last quarter. Krilogy Financial LLC lifted its stake in shares of FedEx by 0.4% in the 2nd quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after purchasing an additional 2 shares during the last quarter. Alexandria Capital LLC lifted its stake in shares of FedEx by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. acquired a new stake in shares of FedEx in the 3rd quarter valued at $132,000. Hedge funds and other institutional investors own 75.74% of the company’s stock.
Shares of FedEx Co. (NYSE FDX) opened at $240.73 on Friday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. FedEx Co. has a 1 year low of $182.89 and a 1 year high of $243.06. The company has a market cap of $64,167.75, a P/E ratio of 20.09, a P/E/G ratio of 1.51 and a beta of 1.36.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be paid 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 0.83%. FedEx’s dividend payout ratio is currently 18.87%.
Several research firms recently issued reports on FDX. Barclays reaffirmed an “overweight” rating and issued a $270.00 price objective (up previously from $230.00) on shares of FedEx in a research note on Thursday, November 30th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 27th. Sanford C. Bernstein set a $212.00 price objective on shares of FedEx and gave the stock a “hold” rating in a report on Wednesday, November 15th. Goldman Sachs Group initiated coverage on shares of FedEx in a report on Monday, November 13th. They set a “buy” rating and a $270.00 price objective on the stock. Finally, Oppenheimer restated a “buy” rating and set a $236.00 price objective on shares of FedEx in a report on Friday, October 20th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $231.81.
In related news, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kim Jabal sold 3,980 shares of the company’s stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $225.55, for a total transaction of $897,689.00. Following the sale, the director now directly owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Insiders sold a total of 40,094 shares of company stock valued at $9,024,637 in the last quarter. 8.45% of the stock is currently owned by company insiders.
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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