Brown Brothers Harriman & Co. lifted its stake in FedEx Co. (NYSE:FDX) by 290.2% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,351 shares of the shipping service provider’s stock after purchasing an additional 3,236 shares during the quarter. Brown Brothers Harriman & Co.’s holdings in FedEx were worth $1,048,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently modified their holdings of the company. BlackRock Inc. raised its holdings in FedEx by 0.9% in the 2nd quarter. BlackRock Inc. now owns 15,172,550 shares of the shipping service provider’s stock worth $3,445,080,000 after acquiring an additional 134,397 shares during the last quarter. Dodge & Cox raised its holdings 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 acquiring an additional 2,065,853 shares during the last quarter. FMR LLC raised its holdings 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 acquiring an additional 197,188 shares during the last quarter. Canada Pension Plan Investment Board raised its holdings 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 acquiring an additional 170,410 shares during the last quarter. Finally, Jackson Square Partners LLC raised its holdings 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 acquiring an additional 16,497 shares during the last quarter. 72.44% of the stock is currently owned by hedge funds and other institutional investors.
FDX has been the subject of a number of recent analyst reports. Morgan Stanley set a $240.00 price objective on shares of FedEx and gave the stock a “hold” rating in a report on Monday, October 22nd. ValuEngine upgraded shares of FedEx from a “strong sell” rating to a “sell” rating in a report on Wednesday, December 26th. Zacks Investment Research lowered shares of FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 26th. Citigroup decreased their target price on shares of FedEx from $304.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, November 2nd. Finally, Credit Suisse Group set a $307.00 price objective on shares of FedEx and gave the company a “buy” rating in a research report on Tuesday, September 18th. Two equities research analysts have rated the stock with a sell rating, two have issued a hold rating and seventeen have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $237.75.
FDX traded down $0.47 during trading hours on Thursday, hitting $170.12. 1,954,793 shares of the company’s stock were exchanged, compared to its average volume of 2,629,716. The company has a market cap of $42.92 billion, a P/E ratio of 11.11, a PEG ratio of 0.81 and a beta of 1.63. The company has a quick ratio of 1.36, a current ratio of 1.42 and a debt-to-equity ratio of 0.85. FedEx Co. has a 12-month low of $150.94 and a 12-month high of $274.66.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, December 18th. The shipping service provider reported $4.03 earnings per share for the quarter, missing the Zacks’ consensus estimate of $4.05 by ($0.02). The business had revenue of $17.82 billion for the quarter, compared to analyst estimates of $17.71 billion. FedEx had a return on equity of 24.11% and a net margin of 7.23%. During the same quarter in the prior year, the company earned $3.18 EPS. Research analysts forecast that FedEx Co. will post 15.9 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 2nd. Investors of record on Monday, December 10th were paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Friday, December 7th. FedEx’s dividend payout ratio is currently 16.98%.
In other news, Director Susan Patricia Griffith acquired 1,000 shares of the business’s stock in a transaction on Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, for a total transaction of $225,160.00. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director David P. Steiner acquired 7,000 shares of the business’s stock in a transaction on Wednesday, January 2nd. The shares were purchased at an average price of $162.92 per share, with a total value of $1,140,440.00. Following the transaction, the director now owns 25,994 shares in the company, valued at approximately $4,234,942.48. The disclosure for this purchase can be found here. 8.50% of the stock is owned by corporate insiders.
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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