FedEx Co. (FDX) Holdings Increased by Suffolk Capital Management LLC
Suffolk Capital Management LLC boosted its stake in shares of FedEx Co. (NYSE:FDX) by 3.6% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,252 shares of the shipping service provider’s stock after buying an additional 1,980 shares during the period. Suffolk Capital Management LLC’s holdings in FedEx were worth $9,075,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. FMR LLC raised its holdings in FedEx by 4.5% during the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock worth $1,040,600,000 after buying an additional 197,188 shares during the period. Advisors Asset Management Inc. raised its holdings in FedEx by 11.8% during the 2nd quarter. Advisors Asset Management Inc. now owns 113,739 shares of the shipping service provider’s stock worth $25,826,000 after buying an additional 11,984 shares during the period. Global X Management Co LLC grew its stake in FedEx by 19.9% during the 2nd quarter. Global X Management Co LLC now owns 5,939 shares of the shipping service provider’s stock valued at $1,349,000 after acquiring an additional 985 shares in the last quarter. Pensionfund Sabic purchased a new position in FedEx during the 3rd quarter valued at about $2,263,000. Finally, Pensionfund DSM Netherlands purchased a new position in FedEx during the 3rd quarter valued at about $3,130,000. Hedge funds and other institutional investors own 72.38% of the company’s stock.
Several research firms have weighed in on FDX. JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $256.00 target price on shares of FedEx in a research note on Tuesday, December 18th. Zacks Investment Research cut FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Deutsche Bank lowered their target price on FedEx from $293.00 to $212.00 and set a “buy” rating on the stock in a research note on Wednesday, December 19th. UBS Group lowered their target price on FedEx from $256.00 to $205.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 19th. Finally, Credit Suisse Group lowered their target price on FedEx from $263.00 to $236.00 and set an “outperform” rating on the stock in a research note on Wednesday, December 19th. Two research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $237.75.
Shares of NYSE FDX traded up $0.30 during trading hours on Wednesday, hitting $176.20. The stock had a trading volume of 9,322 shares, compared to its average volume of 2,213,579. The stock has a market cap of $46.18 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 0.87 and a beta of 1.63. FedEx Co. has a 52 week low of $150.94 and a 52 week high of $273.95. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.36 and a current ratio of 1.42.
FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $4.05 by ($0.02). The firm had revenue of $17.82 billion during the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a net margin of 7.23% and a return on equity of 24.11%. During the same period in the previous year, the firm posted $3.18 EPS. On average, analysts predict that FedEx Co. will post 15.92 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were paid a $0.65 dividend. The ex-dividend date was Friday, December 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.48%. FedEx’s payout ratio is 16.98%.
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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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