JOYN Advisors Inc. Reduces Holdings in FedEx Co. (FDX)
JOYN Advisors Inc. cut its position in FedEx Co. (NYSE:FDX) by 17.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 530 shares of the shipping service provider’s stock after selling 111 shares during the quarter. JOYN Advisors Inc.’s holdings in FedEx were worth $86,000 as of its most recent SEC filing.
Other institutional investors have also recently bought and sold shares of the company. Franklin Resources Inc. grew its stake in FedEx by 2.2% in the third quarter. Franklin Resources Inc. now owns 551,315 shares of the shipping service provider’s stock valued at $132,752,000 after acquiring an additional 11,798 shares during the period. Creative Planning grew its stake in FedEx by 16.0% in the fourth quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock valued at $5,723,000 after acquiring an additional 4,901 shares during the period. Voit & Company LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $2,175,000. Focused Investors LLC acquired a new stake in FedEx in the fourth quarter valued at approximately $66,774,000. Finally, Tower Bridge Advisors grew its stake in FedEx by 5.1% in the fourth quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock valued at $12,236,000 after acquiring an additional 3,686 shares during the period. Hedge funds and other institutional investors own 71.39% of the company’s stock.
A number of equities research analysts have commented on the company. Cowen reissued an “outperform” rating and issued a $242.00 price objective on shares of FedEx in a research note on Thursday. UBS Group cut their target price on FedEx from $234.00 to $200.00 and set an “outperform” rating on the stock in a research report on Thursday, January 10th. Berenberg Bank reaffirmed a “buy” rating and set a $245.00 target price on shares of FedEx in a research report on Monday, January 7th. Zacks Investment Research reaffirmed a “strong sell” rating on shares of FedEx in a research report on Monday, December 31st. Finally, JPMorgan Chase & Co. set a $233.00 target price on FedEx and gave the company a “buy” rating in a research report on Monday, December 31st. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $235.00.
Shares of FedEx stock opened at $179.08 on Friday. The firm has a market cap of $46.86 billion, a P/E ratio of 11.70, a price-to-earnings-growth ratio of 0.87 and a beta of 1.63. FedEx Co. has a 12 month low of $150.94 and a 12 month high of $266.67. 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 issued its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 EPS for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to the consensus estimate of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter last year, the business posted $3.18 earnings per share. Research analysts anticipate that FedEx Co. will post 15.91 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 1st. Investors of record on Monday, March 11th will be issued a dividend of $0.65 per share. The ex-dividend date of this dividend is Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.45%. FedEx’s dividend payout ratio (DPR) is currently 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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