FedEx Co. (FDX) Shares Sold by Schroder Investment Management Group
Schroder Investment Management Group trimmed its holdings in shares of FedEx Co. (NYSE:FDX) by 5.7% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 179,340 shares of the shipping service provider’s stock after selling 10,766 shares during the quarter. Schroder Investment Management Group owned 0.07% of FedEx worth $40,219,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also modified their holdings of the company. Salem Investment Counselors Inc. increased its position in shares of FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock valued at $104,000 after acquiring an additional 13 shares during the last quarter. Krilogy Financial LLC increased its position in shares of FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock valued at $111,000 after acquiring an additional 2 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of FedEx during the first quarter valued at approximately $100,000. Alexandria Capital LLC increased its position in shares of FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the last quarter. Finally, Financial Engines Advisors L.L.C. purchased a new stake in shares of FedEx during the third quarter valued at approximately $132,000. 75.73% of the stock is owned by institutional investors.
In other FedEx news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were 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 owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 in the last three months. 8.45% of the stock is owned by corporate insiders.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. FedEx had a net margin of 4.72% and a return on equity of 20.69%. FedEx’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the business posted $2.90 EPS. equities analysts expect that FedEx Co. will post 12.47 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.84%. The ex-dividend date is Friday, December 8th. FedEx’s dividend payout ratio is 18.87%.
A number of analysts recently commented on the company. Stifel Nicolaus reaffirmed a “neutral” rating on shares of FedEx in a research report on Wednesday, August 16th. Wells Fargo & Company increased their price objective on FedEx from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Citigroup increased their price objective on FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday. Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Tuesday. Finally, Loop Capital reissued a “buy” rating and set a $260.00 price objective (up from $250.00) on shares of FedEx in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $233.41.
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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