Wedbush Securities Inc. Has $1.31 Million Holdings in FedEx Co. (FDX)
Wedbush Securities Inc. lowered its stake in FedEx Co. (NYSE:FDX) by 6.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 5,440 shares of the shipping service provider’s stock after selling 345 shares during the quarter. Wedbush Securities Inc.’s holdings in FedEx were worth $1,310,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. Palo Capital Inc. bought a new stake in shares of FedEx during the 3rd quarter valued at about $108,000. Moneta Group Investment Advisors LLC boosted its position in shares of FedEx by 14,117.1% during the 2nd quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after acquiring an additional 63,386 shares during the last quarter. Fortis Advisors LLC boosted its position in shares of FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after acquiring an additional 370 shares during the last quarter. Lenox Wealth Advisors LLC bought a new stake in shares of FedEx during the 3rd quarter valued at about $120,000. Finally, Qube Research & Technologies Ltd bought a new stake in shares of FedEx during the 2nd quarter valued at about $129,000. Institutional investors and hedge funds own 72.11% of the company’s stock.
Shares of NYSE FDX opened at $212.79 on Thursday. The stock has a market cap of $56.79 billion, a P/E ratio of 13.90, a PEG ratio of 0.97 and a beta of 1.35. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 1-year low of $207.90 and a 1-year high of $274.66.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be paid a $0.65 dividend. The ex-dividend date is Friday, December 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.22%. FedEx’s dividend payout ratio (DPR) is currently 16.98%.
A number of brokerages have recently issued reports on FDX. Morgan Stanley reiterated a “hold” rating and set a $242.00 price target (down previously from $245.00) on shares of FedEx in a research report on Tuesday, September 18th. Credit Suisse Group set a $307.00 price target on FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price target on shares of FedEx in a research report on Tuesday, September 18th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a research report on Tuesday, August 21st. Finally, Berenberg Bank initiated coverage on FedEx in a research report on Friday, September 21st. They set a “buy” rating and a $300.00 price target for the company. Three investment analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus target price of $285.85.
In other FedEx news, Director John A. Edwardson sold 1,160 shares of FedEx stock in a transaction that occurred on Wednesday, September 19th. The stock was sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Susan Patricia Griffith purchased 1,000 shares of the firm’s stock in a transaction on Wednesday, October 17th. The stock was bought at an average cost of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. 8.45% of the stock is owned by insiders.
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FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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