7,737 Shares in FedEx Co. (NYSE:FDX) Purchased by WBI Investments Inc.

WBI Investments Inc. acquired a new position in shares of FedEx Co. (NYSE:FDXFree Report) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,737 shares of the shipping service provider’s stock, valued at approximately $2,050,000.

Other institutional investors and hedge funds have also modified their holdings of the company. RB Capital Management LLC increased its holdings in FedEx by 3.3% in the 1st quarter. RB Capital Management LLC now owns 1,951 shares of the shipping service provider’s stock worth $451,000 after purchasing an additional 63 shares in the last quarter. AMI Investment Management Inc. increased its holdings in FedEx by 43.9% in the 1st quarter. AMI Investment Management Inc. now owns 15,385 shares of the shipping service provider’s stock worth $3,560,000 after purchasing an additional 4,693 shares in the last quarter. Moors & Cabot Inc. increased its stake in shares of FedEx by 101.5% in the first quarter. Moors & Cabot Inc. now owns 4,274 shares of the shipping service provider’s stock valued at $989,000 after buying an additional 2,153 shares during the period. Baird Financial Group Inc. increased its stake in shares of FedEx by 7.8% in the first quarter. Baird Financial Group Inc. now owns 148,735 shares of the shipping service provider’s stock valued at $34,408,000 after buying an additional 10,731 shares during the period. Finally, Loomis Sayles & Co. L P increased its stake in shares of FedEx by 553.3% in the first quarter. Loomis Sayles & Co. L P now owns 392 shares of the shipping service provider’s stock valued at $91,000 after buying an additional 332 shares during the period. 73.61% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on FDX shares. Melius Research raised FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research note on Monday, January 8th. TD Cowen increased their price target on FedEx from $290.00 to $293.00 and gave the stock an “outperform” rating in a report on Tuesday, December 12th. JPMorgan Chase & Co. cut their price target on FedEx from $322.00 to $305.00 and set a “neutral” rating on the stock in a report on Wednesday, December 20th. Stifel Nicolaus raised their target price on FedEx from $282.00 to $305.00 and gave the company a “buy” rating in a report on Wednesday, January 10th. Finally, Melius upgraded FedEx from a “hold” rating to a “buy” rating in a report on Monday, January 8th. Six equities research analysts have rated the stock with a hold rating and twenty have given a buy rating to the company’s stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $289.93.

View Our Latest Research Report on FDX

FedEx Trading Up 0.4 %

NYSE FDX opened at $242.62 on Monday. FedEx Co. has a 1-year low of $190.83 and a 1-year high of $285.53. The firm has a market cap of $60.63 billion, a PE ratio of 14.37, a price-to-earnings-growth ratio of 1.14 and a beta of 1.20. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.75. The stock has a 50-day moving average of $253.53 and a 200-day moving average of $254.77.

FedEx (NYSE:FDXGet Free Report) last announced its quarterly earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). FedEx had a net margin of 4.87% and a return on equity of 16.47%. The business had revenue of $22.17 billion for the quarter, compared to analysts’ expectations of $22.36 billion. During the same quarter in the prior year, the firm earned $3.18 EPS. The firm’s revenue for the quarter was down 2.8% on a year-over-year basis. As a group, sell-side analysts forecast that FedEx Co. will post 17.76 EPS for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Investors of record on Monday, December 11th were paid a $1.26 dividend. The ex-dividend date of this dividend was Friday, December 8th. This represents a $5.04 annualized dividend and a dividend yield of 2.08%. FedEx’s payout ratio is currently 29.86%.

Insider Buying and Selling

In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were acquired at an average cost of $252.02 per share, with a total value of $252,020.00. Following the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other FedEx news, EVP John W. Dietrich acquired 1,000 shares of the stock in a transaction that occurred on Thursday, December 28th. The shares were acquired at an average cost of $252.02 per share, with a total value of $252,020.00. Following the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Amy B. Lane acquired 200 shares of the stock in a transaction that occurred on Tuesday, December 26th. The stock was acquired at an average cost of $253.22 per share, for a total transaction of $50,644.00. Following the completion of the transaction, the director now directly owns 3,304 shares in the company, valued at approximately $836,638.88. The disclosure for this purchase can be found here. 8.73% of the stock is currently owned by company insiders.

FedEx Company Profile

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

Further Reading

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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