Great Valley Advisor Group Inc. decreased its holdings in FedEx Co. (NYSE:FDX) by 6.9% in the 1st quarter, HoldingsChannel reports. The firm owned 1,341 shares of the shipping service provider’s stock after selling 100 shares during the period. Great Valley Advisor Group Inc.’s holdings in FedEx were worth $243,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently added to or reduced their stakes in FDX. Creative Planning increased its holdings in FedEx by 16.0% in the 4th quarter. Creative Planning now owns 35,473 shares of the shipping service provider’s stock valued at $5,723,000 after buying an additional 4,901 shares during the period. Voit & Company LLC bought a new position in FedEx in the 4th quarter valued at about $2,175,000. Tower Bridge Advisors increased its holdings in FedEx by 5.1% in the 4th quarter. Tower Bridge Advisors now owns 75,846 shares of the shipping service provider’s stock valued at $12,236,000 after buying an additional 3,686 shares during the period. Focused Investors LLC bought a new position in FedEx in the 4th quarter valued at about $66,774,000. Finally, Sonora Investment Management LLC increased its holdings in FedEx by 26.1% in the 4th quarter. Sonora Investment Management LLC now owns 1,451 shares of the shipping service provider’s stock valued at $234,000 after buying an additional 300 shares during the period. 71.67% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have commented on the stock. UBS Group lowered shares of FedEx from a “neutral” rating to a “sell” rating and decreased their target price for the company from $171.00 to $161.00 in a report on Friday. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price target on shares of FedEx in a report on Monday, April 1st. Berenberg Bank lowered shares of FedEx from a “buy” rating to a “hold” rating and decreased their price target for the company from $245.00 to $200.00 in a report on Monday, April 1st. Susquehanna Bancshares reaffirmed a “neutral” rating and set a $174.00 price target on shares of FedEx in a report on Thursday, March 28th. Finally, Daiwa Capital Markets lowered shares of FedEx from an “outperform” rating to a “neutral” rating and decreased their price target for the company from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the stock. FedEx currently has an average rating of “Hold” and a consensus price target of $212.33.
FDX opened at $184.04 on Monday. FedEx Co. has a fifty-two week low of $150.94 and a fifty-two week high of $266.67. The company has a debt-to-equity ratio of 0.87, a quick ratio of 1.40 and a current ratio of 1.46. The company has a market cap of $47.96 billion, a price-to-earnings ratio of 12.02, a price-to-earnings-growth ratio of 0.93 and a beta of 1.62.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, March 19th. The shipping service provider reported $3.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). FedEx had a return on equity of 22.67% and a net margin of 5.25%. The business had revenue of $17.01 billion for the quarter, compared to the consensus estimate of $17.70 billion. During the same period in the previous year, the firm earned $3.72 earnings per share. The company’s revenue was up 2.9% compared to the same quarter last year. Equities research analysts forecast that FedEx Co. will post 15.44 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, April 1st. Shareholders of record on Monday, March 11th were issued a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date of this dividend was Friday, March 8th. FedEx’s payout ratio is 16.98%.
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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