Chesley Taft & Associates LLC lifted its holdings in shares of FedEx Co. (NYSE:FDX) by 2.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 57,010 shares of the shipping service provider’s stock after purchasing an additional 1,230 shares during the quarter. FedEx accounts for 1.2% of Chesley Taft & Associates LLC’s holdings, making the stock its 26th largest position. Chesley Taft & Associates LLC’s holdings in FedEx were worth $14,226,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of FedEx by 2.7% during the second quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares during the period. FMR LLC increased its stake in FedEx by 0.3% in the second quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock valued at $984,539,000 after acquiring an additional 15,382 shares during the last quarter. Ameriprise Financial Inc. increased its stake in FedEx by 7.3% in the third quarter. Ameriprise Financial Inc. now owns 3,925,763 shares of the shipping service provider’s stock valued at $885,594,000 after acquiring an additional 266,660 shares during the last quarter. Capital World Investors increased its stake in FedEx by 16.1% in the second quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock valued at $785,626,000 after acquiring an additional 501,617 shares during the last quarter. Finally, Canada Pension Plan Investment Board increased its stake in FedEx by 3.3% in the third quarter. Canada Pension Plan Investment Board now owns 3,612,357 shares of the shipping service provider’s stock valued at $814,875,000 after acquiring an additional 116,500 shares during the last quarter. 75.66% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on FDX shares. Zacks Investment Research cut shares of FedEx from a “hold” rating to a “sell” rating in a research note on Monday, November 27th. Bank of America reissued a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx in a research note on Friday, October 6th. Sanford C. Bernstein set a $236.00 price objective on shares of FedEx and gave the company a “hold” rating in a research note on Wednesday, December 20th. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 price objective (down from $242.00) on shares of FedEx in a research note on Friday, September 15th. Finally, Citigroup reissued a “buy” rating and issued a $235.00 price objective on shares of FedEx in a research note on Thursday, September 14th. One analyst has rated the stock with a sell rating, three have given a hold rating and twenty-four have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $269.04.
FedEx (NYSE:FDX) last posted its earnings results on Tuesday, December 19th. The shipping service provider reported $3.18 earnings per share for the quarter, topping analysts’ consensus estimates of $2.89 by $0.29. The firm had revenue of $16.30 billion for the quarter, compared to analysts’ expectations of $15.67 billion. FedEx had a net margin of 4.74% and a return on equity of 20.56%. The company’s revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.80 earnings per share. analysts expect that FedEx Co. will post 13.03 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th were paid a dividend of $0.50 per share. The ex-dividend date was Friday, December 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.75%. FedEx’s payout ratio is presently 18.38%.
In other news, Director David P. Steiner sold 3,016 shares of FedEx stock in a transaction on Friday, January 5th. The shares were sold at an average price of $266.05, for a total transaction of $802,406.80. Following the transaction, the director now owns 16,040 shares in the company, valued at $4,267,442. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO David J. Bronczek sold 46,555 shares of FedEx stock in a transaction on Tuesday, January 2nd. The stock was sold at an average price of $255.49, for a total transaction of $11,894,336.95. Following the transaction, the chief operating officer now owns 48,562 shares in the company, valued at approximately $12,407,105.38. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,671 shares of company stock worth $17,137,160. Insiders own 8.45% of the company’s stock.
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FedEx Company 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.
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