Swarthmore Group Inc. Takes Position in FedEx Co. (FDX)
Swarthmore Group Inc. acquired a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 29,175 shares of the shipping service provider’s stock, valued at approximately $7,280,000. FedEx makes up about 1.6% of Swarthmore Group Inc.’s holdings, making the stock its 23rd largest position.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Krilogy Financial LLC boosted its holdings 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 in the last quarter. Salem Investment Counselors Inc. boosted its holdings 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 in the last quarter. RNC Capital Management LLC boosted its holdings in FedEx by 0.8% during the second quarter. RNC Capital Management LLC now owns 1,996 shares of the shipping service provider’s stock worth $434,000 after buying an additional 15 shares in the last quarter. High Falls Advisors Inc boosted its holdings in FedEx by 2.1% during the second quarter. High Falls Advisors Inc now owns 1,124 shares of the shipping service provider’s stock worth $244,000 after buying an additional 23 shares in the last quarter. Finally, Wetherby Asset Management Inc. boosted its holdings in FedEx by 0.8% during the second quarter. Wetherby Asset Management Inc. now owns 4,694 shares of the shipping service provider’s stock worth $1,020,000 after buying an additional 37 shares in the last quarter. 75.69% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Co. (NYSE:FDX) traded up $0.69 during trading on Thursday, hitting $272.18. 1,842,546 shares of the stock traded hands, compared to its average volume of 1,942,255. FedEx Co. has a 52 week low of $182.89 and a 52 week high of $273.16. The firm has a market capitalization of $72,880.00, a price-to-earnings ratio of 25.02, a P/E/G ratio of 1.61 and a beta of 1.36. The company has a quick ratio of 1.50, a current ratio of 1.57 and a debt-to-equity ratio of 0.89.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.73%. FedEx’s dividend payout ratio (DPR) is 18.38%.
In other news, Director David P. Steiner sold 3,016 shares of the firm’s stock in a transaction dated 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 directly owns 16,040 shares in the company, valued at approximately $4,267,442. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction dated 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 owns 36,747 shares in the company, valued at $8,395,219.62. The disclosure for this sale can be found here. Insiders have sold a total of 68,671 shares of company stock worth $17,137,160 over the last quarter. 8.45% of the stock is currently owned by insiders.
A number of analysts recently commented on the stock. Cowen reissued an “outperform” rating and set a $240.00 price objective on shares of FedEx in a report on Friday, October 13th. Oppenheimer reaffirmed a “buy” rating and issued a $265.00 price target (up previously from $236.00) on shares of FedEx in a report on Wednesday, December 20th. Zacks Investment Research raised shares of FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. BMO Capital Markets reaffirmed a “buy” rating and issued a $300.00 price target on shares of FedEx in a report on Monday, January 8th. Finally, Bank of America reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx in a report on Wednesday, September 20th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, twenty-three have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $270.49.
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FedEx Company Profile
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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