FedEx Co. (FDX) Position Lowered by Laurel Grove Capital LLC
Laurel Grove Capital LLC reduced its stake in FedEx Co. (NYSE:FDX) by 6.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,650 shares of the shipping service provider’s stock after selling 600 shares during the quarter. Laurel Grove Capital LLC’s holdings in FedEx were worth $2,159,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FDX. Strategic Advisors LLC lifted its stake in FedEx by 16.7% in the second quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after buying an additional 306 shares during the period. Stevens Capital Management LP lifted its stake in FedEx by 60.6% in the second quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock valued at $8,550,000 after buying an additional 14,845 shares during the period. Vanguard Group Inc. lifted its stake in FedEx by 2.7% in the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after buying an additional 492,840 shares during the period. Prudential PLC lifted its stake in FedEx by 25.8% in the second quarter. Prudential PLC now owns 52,403 shares of the shipping service provider’s stock valued at $11,389,000 after buying an additional 10,753 shares during the period. Finally, Sirios Capital Management L P lifted its stake in FedEx by 12.3% in the third quarter. Sirios Capital Management L P now owns 589,149 shares of the shipping service provider’s stock valued at $132,901,000 after buying an additional 64,637 shares during the period. 75.71% of the stock is currently owned by institutional investors.
Several equities analysts have issued reports on FDX shares. Loop Capital boosted their price target on FedEx to $318.00 in a research note on Thursday, January 4th. Oppenheimer restated a “buy” rating and set a $236.00 price objective on shares of FedEx in a report on Friday, October 20th. Bank of America restated a “buy” rating and set a $247.00 price objective (up previously from $240.00) on shares of FedEx in a report on Friday, October 6th. Goldman Sachs Group initiated coverage on FedEx in a report on Monday, November 13th. They set a “buy” rating and a $270.00 price objective for the company. Finally, Citigroup boosted their price objective on FedEx to $275.00 and gave the company a “buy” rating in a report on Tuesday, December 12th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, twenty-three have given a buy rating and one has issued a strong buy rating to the company’s stock. FedEx has a consensus rating of “Buy” and an average target price of $270.49.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.89 by $0.29. FedEx had a return on equity of 20.56% and a net margin of 4.74%. The business had revenue of $16.30 billion during the quarter, compared to the consensus estimate of $15.67 billion. During the same quarter in the prior year, the company posted $2.80 earnings per share. FedEx’s revenue was up 9.4% compared to the same quarter last year. analysts forecast that FedEx Co. will post 13.28 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were issued a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, December 8th. This represents a $2.00 annualized dividend and a yield of 0.73%. FedEx’s dividend payout ratio (DPR) is currently 18.38%.
In related news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction 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 sale, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO David J. Bronczek sold 46,555 shares of the company’s stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total value of $11,894,336.95. Following the sale, the chief operating officer now owns 48,562 shares of the company’s stock, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. Insiders have sold 68,671 shares of company stock valued at $17,137,160 in the last quarter. 8.45% of the stock is currently owned by corporate insiders.
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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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