Northern Capital Management LLC lifted its stake in shares of FedEx Co. (NYSE:FDX) by 92.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 15,590 shares of the shipping service provider’s stock after buying an additional 7,480 shares during the quarter. Northern Capital Management LLC’s holdings in FedEx were worth $3,754,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Palo Capital Inc. purchased a new stake in shares of FedEx during the third quarter valued at approximately $108,000. Moneta Group Investment Advisors LLC grew its holdings in shares of FedEx by 14,117.1% during the second quarter. Moneta Group Investment Advisors LLC now owns 63,835 shares of the shipping service provider’s stock valued at $114,000 after buying an additional 63,386 shares during the last quarter. Fortis Advisors LLC grew its holdings in shares of FedEx by 278.2% during the second quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock valued at $115,000 after buying an additional 370 shares during the last quarter. Lenox Wealth Advisors LLC purchased a new stake in shares of FedEx during the third quarter valued at approximately $120,000. Finally, Qube Research & Technologies Ltd purchased a new stake in shares of FedEx during the second quarter valued at approximately $129,000. Institutional investors own 72.56% of the company’s stock.
Shares of FedEx stock opened at $226.69 on Friday. The company has a market cap of $59.33 billion, a P/E ratio of 14.81, a P/E/G ratio of 1.02 and a beta of 1.36. FedEx Co. has a twelve month low of $207.90 and a twelve month high of $274.66. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Shareholders of record on Monday, December 10th will be given a $0.65 dividend. This represents a $2.60 annualized dividend and a yield of 1.15%. FedEx’s payout ratio is presently 16.98%.
In other FedEx news, Director John A. Edwardson sold 1,160 shares of the stock in a transaction that occurred on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value of $281,126.00. Following the transaction, the director now directly owns 32,800 shares in the company, valued at $7,949,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Susan Patricia Griffith purchased 1,000 shares of the firm’s 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. 8.45% of the stock is currently owned by company insiders.
A number of equities research analysts have recently commented on FDX shares. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a report on Tuesday, August 21st. Morgan Stanley reiterated a “hold” rating and set a $242.00 price target (down previously from $245.00) on shares of FedEx in a report on Tuesday, September 18th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $305.00 price target on shares of FedEx in a report on Tuesday, September 18th. Credit Suisse Group set a $307.00 price target on shares of FedEx and gave the company a “buy” rating in a report on Tuesday, September 18th. Finally, Loop Capital increased their price target on shares of FedEx to $318.00 and gave the company a “buy” rating in a report on Tuesday, September 18th. Three investment analysts have rated the stock with a hold rating and nineteen have assigned a buy rating to the company. FedEx currently has an average rating of “Buy” and a consensus price target of $285.57.
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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