Westfield Capital Management Co. LP Takes Position in FedEx Co. (FDX)
Westfield Capital Management Co. LP bought a new position in shares of FedEx Co. (NYSE:FDX) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,900 shares of the shipping service provider’s stock, valued at approximately $429,000.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Salem Investment Counselors Inc. lifted its position in FedEx by 2.8% during the second quarter. Salem Investment Counselors Inc. now owns 479 shares of the shipping service provider’s stock worth $104,000 after buying an additional 13 shares during the period. Krilogy Financial LLC lifted its position in FedEx by 0.4% during the second quarter. Krilogy Financial LLC now owns 511 shares of the shipping service provider’s stock worth $111,000 after buying an additional 2 shares during the period. FNY Managed Accounts LLC purchased a new position in FedEx during the first quarter worth about $100,000. Alexandria Capital LLC lifted its position in FedEx by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the period. Finally, Financial Engines Advisors L.L.C. acquired a new stake in FedEx during the third quarter worth about $132,000. Hedge funds and other institutional investors own 75.73% of the company’s stock.
Shares of FedEx Co. (NYSE FDX) opened at $240.05 on Friday. The stock has a market capitalization of $63,953.23, a P/E ratio of 20.02, a P/E/G ratio of 1.50 and a beta of 1.36. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $243.48. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s dividend payout ratio is currently 18.87%.
Several equities research analysts have commented on the company. Credit Suisse Group restated an “outperform” rating and set a $278.00 price target (up from $233.00) on shares of FedEx in a research note on Thursday. Zacks Investment Research upgraded FedEx from a “sell” rating to a “hold” rating in a research note on Tuesday. Citigroup increased their target price on FedEx to $275.00 and gave the company a “buy” rating in a research note on Tuesday. Barclays reiterated an “overweight” rating and issued a $270.00 target price (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. Finally, Cowen reiterated an “outperform” rating and issued a $240.00 target price on shares of FedEx in a research note on Friday, October 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average price target of $235.21.
In related news, EVP Donald F. Colleran sold 10,000 shares of FedEx stock in a transaction on 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 transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Jabal sold 3,980 shares of FedEx stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $225.55, for a total value of $897,689.00. Following the completion of the transaction, the director now owns 6,080 shares in the company, valued at $1,371,344. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,094 shares of company stock worth $9,024,637. 8.45% of the stock is owned by insiders.
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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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