Southeast Asset Advisors Inc. reduced its stake in shares of FedEx Co. (NYSE:FDX) by 82.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 5,618 shares of the shipping service provider’s stock after selling 26,015 shares during the quarter. Southeast Asset Advisors Inc.’s holdings in FedEx were worth $906,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently modified their holdings of FDX. HC Financial Advisors Inc. boosted its holdings in shares of FedEx by 5.9% in the 3rd quarter. HC Financial Advisors Inc. now owns 8,333 shares of the shipping service provider’s stock valued at $2,007,000 after buying an additional 464 shares during the last quarter. MML Investors Services LLC lifted its holdings in FedEx by 45.2% during the 3rd quarter. MML Investors Services LLC now owns 33,062 shares of the shipping service provider’s stock valued at $7,961,000 after purchasing an additional 10,286 shares during the last quarter. Commonwealth Bank of Australia lifted its holdings in FedEx by 4.0% during the 3rd quarter. Commonwealth Bank of Australia now owns 31,095 shares of the shipping service provider’s stock valued at $7,483,000 after purchasing an additional 1,200 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in FedEx by 108.3% during the 3rd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,964 shares of the shipping service provider’s stock valued at $714,000 after purchasing an additional 1,541 shares during the last quarter. Finally, Guyasuta Investment Advisors Inc. acquired a new stake in FedEx during the 3rd quarter valued at $412,000. 71.39% of the stock is currently owned by institutional investors.
FDX stock opened at $177.98 on Friday. The company has a current ratio of 1.42, a quick ratio of 1.36 and a debt-to-equity ratio of 0.85. The firm has a market cap of $46.46 billion, a price-to-earnings ratio of 11.63, a PEG ratio of 0.87 and a beta of 1.63. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 1st. Shareholders of record on Monday, March 11th will be given a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a yield of 1.46%. The ex-dividend date is Friday, March 8th. FedEx’s payout ratio is 16.98%.
In related news, VP John L. Merino sold 2,300 shares of the firm’s stock in a transaction on Monday, February 4th. The stock was sold at an average price of $182.24, for a total value of $419,152.00. Following the transaction, the vice president now owns 30,185 shares in the company, valued at $5,500,914.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director David P. Steiner purchased 7,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 2nd. The stock was bought at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the transaction, the director now directly owns 25,994 shares of the company’s stock, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is owned by company insiders.
FDX has been the subject of several research reports. ValuEngine raised FedEx from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Zacks Investment Research downgraded FedEx from a “hold” rating to a “sell” rating in a report on Monday, November 26th. Morgan Stanley cut their price target on FedEx from $230.00 to $156.00 and set an “equal weight” rating for the company in a report on Friday, December 21st. Bank of America reaffirmed a “neutral” rating and set a $193.00 price target (down previously from $220.00) on shares of FedEx in a report on Wednesday, December 19th. Finally, Cowen reaffirmed an “outperform” rating and set a $237.00 price target (down previously from $242.00) on shares of FedEx in a report on Thursday. Two analysts have rated the stock with a sell rating, two have given a hold rating and sixteen have issued a buy rating to the company’s stock. FedEx presently has a consensus rating of “Buy” and an average target price of $234.74.
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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