American National Bank increased its position in FedEx Co. (NYSE:FDX) by 16.9% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,593 shares of the shipping service provider’s stock after acquiring an additional 2,400 shares during the quarter. American National Bank’s holdings in FedEx were worth $2,677,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in the stock. Vanguard Group Inc increased its holdings in FedEx by 0.5% in the 3rd quarter. Vanguard Group Inc now owns 19,396,617 shares of the shipping service provider’s stock worth $4,670,511,000 after acquiring an additional 96,084 shares in the last quarter. Dodge & Cox boosted its stake in FedEx by 20.0% in the 3rd quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after purchasing an additional 2,065,853 shares during the period. FMR LLC boosted its stake in FedEx by 4.5% in the 2nd quarter. FMR LLC now owns 4,582,932 shares of the shipping service provider’s stock worth $1,040,600,000 after purchasing an additional 197,188 shares during the period. Canada Pension Plan Investment Board boosted its stake in FedEx by 4.9% in the 3rd quarter. Canada Pension Plan Investment Board now owns 3,617,702 shares of the shipping service provider’s stock worth $871,106,000 after purchasing an additional 170,410 shares during the period. Finally, Jackson Square Partners LLC boosted its stake in FedEx by 0.6% in the 3rd quarter. Jackson Square Partners LLC now owns 2,643,463 shares of the shipping service provider’s stock worth $636,519,000 after purchasing an additional 16,497 shares during the period. 72.44% of the stock is owned by institutional investors.
FDX traded up $0.88 during trading on Friday, reaching $171.00. The company had a trading volume of 142,337 shares, compared to its average volume of 3,703,933. The company has a market cap of $44.53 billion, a PE ratio of 11.17, a P/E/G ratio of 0.84 and a beta of 1.63. FedEx Co. has a 52 week low of $150.94 and a 52 week high of $274.66. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85.
The business also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, December 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.52%. FedEx’s dividend payout ratio is presently 16.98%.
In other FedEx news, Director David P. Steiner bought 7,000 shares of FedEx stock in a transaction on Wednesday, January 2nd. The shares were acquired at an average price of $162.92 per share, for a total transaction of $1,140,440.00. Following the completion of the purchase, the director now directly owns 25,994 shares in the company, valued at approximately $4,234,942.48. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Susan Patricia Griffith bought 1,000 shares of FedEx stock in a transaction on Wednesday, October 17th. The stock was acquired at an average price of $225.16 per share, for a total transaction of $225,160.00. The disclosure for this purchase can be found here. 8.50% of the stock is owned by company insiders.
Several research firms have weighed in on FDX. JPMorgan Chase & Co. restated a “buy” rating and issued a $256.00 price target on shares of FedEx in a research note on Tuesday, December 18th. UBS Group dropped their price target on FedEx from $234.00 to $200.00 and set an “outperform” rating for the company in a research note on Thursday. Berenberg Bank began coverage on FedEx in a research note on Friday, September 21st. They issued a “buy” rating and a $300.00 price target for the company. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, December 12th. Finally, Deutsche Bank dropped their price target on FedEx from $293.00 to $212.00 and set a “buy” rating for the company in a research note on Wednesday, December 19th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and seventeen have issued a buy rating to the company. FedEx presently has an average rating of “Buy” and an average price target of $237.75.
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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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