Cozad Asset Management Inc. purchased a new position in FedEx Co. (NYSE:FDX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 17,650 shares of the shipping service provider’s stock, valued at approximately $4,008,000. FedEx comprises approximately 1.2% of Cozad Asset Management Inc.’s portfolio, making the stock its 19th largest position.
Several other large investors have also recently modified their holdings of the company. Moneta Group Investment Advisors LLC raised its holdings in shares of FedEx by 14,866.7% in the 1st quarter. Moneta Group Investment Advisors LLC now owns 449 shares of the shipping service provider’s stock valued at $108,000 after buying an additional 446 shares during the period. Vigilant Capital Management LLC purchased a new stake in FedEx during the 2nd quarter worth about $114,000. Fortis Advisors LLC increased its holdings in FedEx by 278.2% during the 2nd quarter. Fortis Advisors LLC now owns 503 shares of the shipping service provider’s stock worth $115,000 after purchasing an additional 370 shares during the period. IMA Wealth Inc. purchased a new stake in FedEx during the 2nd quarter worth about $136,000. Finally, Trust Department MB Financial Bank N A purchased a new stake in FedEx during the 2nd quarter worth about $141,000. 72.77% of the stock is currently owned by hedge funds and other institutional investors.
Several brokerages have weighed in on FDX. Credit Suisse Group upped their price target on FedEx from $306.00 to $315.00 and gave the stock an “outperform” rating in a report on Wednesday, June 20th. Zacks Investment Research downgraded FedEx from a “buy” rating to a “hold” rating in a report on Thursday, June 21st. Bank of America cut their price target on FedEx from $310.00 to $304.00 and set a “buy” rating on the stock in a report on Tuesday, September 18th. Loop Capital cut their price target on FedEx to $310.00 and set a “buy” rating on the stock in a report on Thursday, June 21st. Finally, Oppenheimer upped their price objective on FedEx from $282.00 to $288.00 and gave the stock an “outperform” rating in a research report on Thursday, June 14th. Three investment analysts have rated the stock with a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $286.14.
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 stock was sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 8.50% of the stock is currently owned by company insiders.
Shares of NYSE FDX traded down $3.01 during trading hours on Friday, reaching $236.06. The stock had a trading volume of 1,520,488 shares, compared to its average volume of 1,703,674. The stock has a market cap of $63.45 billion, a PE ratio of 15.42, a price-to-earnings-growth ratio of 1.09 and a beta of 1.44. The company has a quick ratio of 1.26, a current ratio of 1.32 and a debt-to-equity ratio of 0.79. FedEx Co. has a fifty-two week low of $214.17 and a fifty-two week high of $274.66.
FedEx (NYSE:FDX) last posted its quarterly earnings data on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing analysts’ consensus estimates of $3.78 by ($0.32). FedEx had a return on equity of 23.71% and a net margin of 7.16%. The company had revenue of $17.05 billion for the quarter, compared to analyst estimates of $16.88 billion. During the same period in the previous year, the business posted $2.65 earnings per share. The firm’s revenue was up 11.5% compared to the same quarter last year. Sell-side analysts anticipate that FedEx Co. will post 17.36 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Shareholders of record on Monday, September 10th were given a dividend of $0.65 per share. The ex-dividend date was Friday, September 7th. This represents a $2.60 dividend on an annualized basis and a yield of 1.10%. 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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