Country Trust Bank Has $60.13 Million Holdings in FedEx Co. (FDX)
Country Trust Bank trimmed its position in FedEx Co. (NYSE:FDX) by 0.3% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 240,957 shares of the shipping service provider’s stock after selling 693 shares during the period. FedEx comprises about 2.6% of Country Trust Bank’s investment portfolio, making the stock its 5th largest position. Country Trust Bank’s holdings in FedEx were worth $60,128,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FDX. Grove Bank & Trust increased its stake in shares of FedEx by 14.2% during the 2nd quarter. Grove Bank & Trust now owns 789 shares of the shipping service provider’s stock valued at $171,000 after acquiring an additional 98 shares during the last quarter. Busey Trust CO acquired a new position in shares of FedEx during the 2nd quarter valued at about $234,000. Ingalls & Snyder LLC increased its stake in shares of FedEx by 79.6% during the 2nd quarter. Ingalls & Snyder LLC now owns 8,001 shares of the shipping service provider’s stock valued at $1,739,000 after acquiring an additional 3,545 shares during the last quarter. Parsec Financial Management Inc. increased its stake in shares of FedEx by 3.8% during the 2nd quarter. Parsec Financial Management Inc. now owns 20,483 shares of the shipping service provider’s stock valued at $4,452,000 after acquiring an additional 743 shares during the last quarter. Finally, First Manhattan Co. increased its stake in shares of FedEx by 17.9% during the 2nd quarter. First Manhattan Co. now owns 567,611 shares of the shipping service provider’s stock valued at $123,358,000 after acquiring an additional 86,150 shares during the last quarter. Institutional investors own 75.66% of the company’s stock.
A number of research analysts have recently commented on the stock. Robert W. Baird reaffirmed a “buy” rating and set a $280.00 price objective on shares of FedEx in a research note on Tuesday. BMO Capital Markets reissued a “buy” rating and set a $300.00 target price on shares of FedEx in a research report on Monday. UBS Group raised shares of FedEx from a “neutral” rating to a “buy” rating and increased their target price for the stock from $264.00 to $302.00 in a research report on Friday, January 5th. Zacks Investment Research raised shares of FedEx from a “hold” rating to a “buy” rating and set a $297.00 target price for the company in a research report on Friday, January 5th. Finally, Loop Capital increased their target price on shares of FedEx to $318.00 in a research report on Thursday, January 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-four have given a buy rating to the stock. FedEx has a consensus rating of “Buy” and an average target price of $269.04.
FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter last year, the company earned $2.80 earnings per share. FedEx’s revenue for the quarter was up 9.4% on a year-over-year basis. equities research analysts anticipate that FedEx Co. will post 13.03 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.75%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s dividend payout ratio (DPR) is 18.38%.
In other news, insider Henry J. Maier sold 11,150 shares of the stock in a transaction that occurred on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director David P. Steiner sold 3,016 shares of the stock in a transaction that occurred on Friday, January 5th. The shares were sold at an average price of $266.05, for a total value of $802,406.80. Following the transaction, the director now owns 16,040 shares of the company’s stock, valued at $4,267,442. The disclosure for this sale can be found here. Insiders sold 68,671 shares of company stock valued at $17,137,160 in the last ninety days. 8.45% of the stock is owned by corporate insiders.
COPYRIGHT VIOLATION WARNING: “Country Trust Bank Has $60.13 Million Holdings in FedEx Co. (FDX)” was originally reported by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this article on another website, it was illegally stolen and republished in violation of U.S. & international copyright legislation. The legal version of this article can be accessed at https://www.thecerbatgem.com/2018/01/11/country-trust-bank-has-60-13-million-holdings-in-fedex-co-fdx.html.
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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Stock Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related stocks with our FREE daily email newsletter.