Cidel Asset Management Inc. Buys New Shares in FedEx Co. (NYSE:FDX)
Cidel Asset Management Inc. bought a new stake in shares of FedEx Co. (NYSE:FDX) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,326 shares of the shipping service provider’s stock, valued at approximately $201,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Simon Quick Advisors LLC lifted its holdings in shares of FedEx by 1,600.0% during the 4th quarter. Simon Quick Advisors LLC now owns 170 shares of the shipping service provider’s stock worth $26,000 after acquiring an additional 160 shares during the period. Manchester Financial Inc. acquired a new stake in FedEx during the 4th quarter valued at approximately $29,000. Pacitti Group Inc. acquired a new stake in FedEx during the 4th quarter valued at approximately $34,000. Americana Partners LLC bought a new position in shares of FedEx during the 4th quarter worth approximately $37,000. Finally, TRUE Private Wealth Advisors bought a new position in shares of FedEx during the 4th quarter worth approximately $40,000. 73.00% of the stock is owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on the company. Stifel Nicolaus cut their price target on FedEx from to in a report on Wednesday, March 18th. Wells Fargo & Co dropped their price target on FedEx from $183.00 to $150.00 and set an “overweight” rating for the company in a research report on Monday, March 16th. Cowen dropped their price target on FedEx from $185.00 to $160.00 and set an “outperform” rating for the company in a research report on Wednesday, March 11th. Oppenheimer downgraded FedEx from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 18th. Finally, Argus downgraded FedEx from a “buy” rating to a “hold” rating in a research report on Tuesday, December 24th. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and fourteen have assigned a buy rating to the company. FedEx currently has a consensus rating of “Hold” and a consensus price target of $154.75.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, March 17th. The shipping service provider reported $1.41 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.41. FedEx had a positive return on equity of 17.05% and a negative net margin of 0.50%. The business had revenue of $17.49 billion during the quarter, compared to analyst estimates of $16.89 billion. During the same period last year, the company earned $3.03 EPS. The company’s revenue for the quarter was up 2.8% on a year-over-year basis. On average, equities analysts predict that FedEx Co. will post 9.61 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th will be given a dividend of $0.65 per share. The ex-dividend date is Friday, March 6th. This represents a $2.60 dividend on an annualized basis and a yield of 2.12%. FedEx’s dividend payout ratio is currently 16.75%.
In related news, Director John A. Edwardson acquired 5,000 shares of the firm’s stock in a transaction dated Friday, March 20th. The stock was acquired at an average price of $111.06 per share, with a total value of $555,300.00. Following the acquisition, the director now directly owns 82,966 shares in the company, valued at approximately $9,214,203.96. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Alan B. Graf, Jr. sold 18,829 shares of the business’s stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $110.49, for a total value of $2,080,416.21. Following the completion of the transaction, the executive vice president now directly owns 201,050 shares of the company’s stock, valued at approximately $22,214,014.50. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.
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.
Further Reading: What is the downside to momentum investing?
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Co. (NYSE:FDX).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.