Bell & Brown Wealth Advisors LLC boosted its stake in shares of FedEx Co. (NYSE:FDX) by 8.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,516 shares of the shipping service provider’s stock after acquiring an additional 1,419 shares during the quarter. FedEx accounts for 2.0% of Bell & Brown Wealth Advisors LLC’s portfolio, making the stock its 16th largest position. Bell & Brown Wealth Advisors LLC’s holdings in FedEx were worth $2,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently added to or reduced their stakes in FDX. Zions Bancorporation N.A. increased its stake in shares of FedEx by 4.0% in the second quarter. Zions Bancorporation N.A. now owns 1,661 shares of the shipping service provider’s stock valued at $273,000 after buying an additional 64 shares in the last quarter. Alpha Windward LLC increased its position in FedEx by 7.5% in the second quarter. Alpha Windward LLC now owns 977 shares of the shipping service provider’s stock worth $169,000 after purchasing an additional 68 shares during the period. FinTrust Capital Advisors LLC increased its position in FedEx by 2.6% in the second quarter. FinTrust Capital Advisors LLC now owns 2,780 shares of the shipping service provider’s stock worth $457,000 after purchasing an additional 70 shares during the period. Quadrant Private Wealth Management LLC increased its position in FedEx by 2.7% in the second quarter. Quadrant Private Wealth Management LLC now owns 2,701 shares of the shipping service provider’s stock worth $443,000 after purchasing an additional 72 shares during the period. Finally, Abbot Financial Management Inc. increased its position in FedEx by 0.9% in the second quarter. Abbot Financial Management Inc. now owns 8,855 shares of the shipping service provider’s stock worth $1,454,000 after purchasing an additional 75 shares during the period. Hedge funds and other institutional investors own 71.32% of the company’s stock.
In other FedEx news, Director R Brad Martin acquired 1,000 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were acquired at an average price of $145.00 per share, for a total transaction of $145,000.00. Following the acquisition, the director now directly owns 49,046 shares of the company’s stock, valued at approximately $7,111,670. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Robert B. Carter sold 23,100 shares of FedEx stock in a transaction dated Wednesday, July 24th. The shares were sold at an average price of $175.78, for a total value of $4,060,518.00. Following the transaction, the executive vice president now owns 68,446 shares in the company, valued at approximately $12,031,437.88. The disclosure for this sale can be found here. Insiders own 8.44% of the company’s stock.
FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 17th. The shipping service provider reported $3.05 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.12). FedEx had a net margin of 0.65% and a return on equity of 21.15%. The business had revenue of $17.05 billion for the quarter, compared to the consensus estimate of $17.05 billion. During the same quarter last year, the firm earned $3.46 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 12.11 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 1st. Stockholders of record on Monday, September 9th were issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend was Friday, September 6th. FedEx’s dividend payout ratio (DPR) is presently 16.75%.
A number of analysts recently commented on FDX shares. BMO Capital Markets lowered FedEx from an “outperform” rating to a “market perform” rating and lowered their price objective for the stock from $190.00 to $165.00 in a research report on Wednesday, September 18th. JPMorgan Chase & Co. set a $140.00 target price on FedEx and gave the stock a “neutral” rating in a report on Friday, October 4th. Standpoint Research upgraded FedEx from a “hold” rating to a “buy” rating in a report on Thursday, September 19th. Edward Jones cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, September 18th. Finally, Credit Suisse Group reduced their target price on FedEx from $175.00 to $168.00 and set an “outperform” rating on the stock in a report on Wednesday, September 18th. Three equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and sixteen have given a buy rating to the stock. FedEx presently has a consensus rating of “Hold” and a consensus target price of $172.44.
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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