First Republic Investment Management Inc. Buys 2,279 Shares of FedEx Co. (FDX)

First Republic Investment Management Inc. increased its stake in FedEx Co. (NYSE:FDX) by 3.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 72,493 shares of the shipping service provider’s stock after buying an additional 2,279 shares during the quarter. First Republic Investment Management Inc.’s holdings in FedEx were worth $16,353,000 as of its most recent filing with the SEC.

Other hedge funds also recently bought and sold shares of the company. Strategic Advisors LLC grew its stake in FedEx by 16.7% during the 2nd quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after purchasing an additional 306 shares in the last quarter. Handelsbanken Fonder AB acquired a new stake in FedEx during the 2nd quarter valued at approximately $435,000. Stevens Capital Management LP grew its stake in FedEx by 60.6% during the 2nd quarter. Stevens Capital Management LP now owns 39,340 shares of the shipping service provider’s stock valued at $8,550,000 after purchasing an additional 14,845 shares in the last quarter. Vanguard Group Inc. grew its stake in FedEx by 2.7% during the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock valued at $4,018,446,000 after purchasing an additional 492,840 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in FedEx by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after purchasing an additional 707 shares in the last quarter. Institutional investors and hedge funds own 75.60% of the company’s stock.

In other news, CEO Michael L. Ducker sold 14,964 shares of FedEx stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 in the last ninety days. 8.45% of the stock is owned by company insiders.

A number of equities research analysts have weighed in on the company. BMO Capital Markets raised their price objective on FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday. Wells Fargo & Company reaffirmed an “outperform” rating and set a $275.00 target price (up previously from $240.00) on shares of FedEx in a report on Wednesday. Credit Suisse Group reaffirmed an “outperform” rating and set a $278.00 target price (up previously from $233.00) on shares of FedEx in a report on Thursday, December 14th. Cowen reaffirmed an “outperform” rating and set a $280.00 target price (up previously from $240.00) on shares of FedEx in a report on Monday. Finally, Zacks Investment Research raised FedEx from a “sell” rating to a “hold” rating in a report on Tuesday, December 12th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $239.21.

Shares of FedEx Co. (NYSE:FDX) opened at $242.54 on Wednesday. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The stock has a market capitalization of $64,867.61, a P/E ratio of 20.31, a P/E/G ratio of 1.52 and a beta of 1.36. FedEx Co. has a 1-year low of $182.89 and a 1-year high of $243.75.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to the consensus estimate of $15.67 billion. FedEx had a return on equity of 20.69% and a net margin of 4.72%. The firm’s revenue for the quarter was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.80 EPS. analysts forecast that FedEx Co. will post 12.47 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.82%. The ex-dividend date of this dividend is Friday, December 8th. FedEx’s payout ratio is currently 18.87%.

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FedEx Profile

FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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