NorthCrest Asset Manangement LLC increased its stake in shares of FedEx Co. (NYSE:FDX – Free Report) by 2.5% in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 20,006 shares of the shipping service provider’s stock after purchasing an additional 482 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in FedEx were worth $4,877,000 as of its most recent filing with the SEC.
Several other institutional investors have also made changes to their positions in the stock. Brighton Jones LLC raised its position in FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Naples Global Advisors LLC raised its position in FedEx by 2.2% during the fourth quarter. Naples Global Advisors LLC now owns 3,869 shares of the shipping service provider’s stock valued at $1,093,000 after acquiring an additional 85 shares in the last quarter. Avestar Capital LLC raised its position in FedEx by 10.3% during the fourth quarter. Avestar Capital LLC now owns 1,383 shares of the shipping service provider’s stock valued at $391,000 after acquiring an additional 129 shares in the last quarter. Asset Management One Co. Ltd. raised its position in FedEx by 2.8% during the fourth quarter. Asset Management One Co. Ltd. now owns 97,351 shares of the shipping service provider’s stock valued at $27,293,000 after acquiring an additional 2,632 shares in the last quarter. Finally, Vontobel Holding Ltd. raised its position in FedEx by 4.6% during the fourth quarter. Vontobel Holding Ltd. now owns 30,124 shares of the shipping service provider’s stock valued at $8,475,000 after acquiring an additional 1,325 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other news, COO John Alan Smith sold 6,155 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $243.55, for a total value of $1,499,050.25. Following the sale, the chief operating officer now owns 23,347 shares in the company, valued at approximately $5,686,161.85. The trade was a 20.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 8.87% of the company’s stock.
FedEx Stock Down 0.5%
FedEx (NYSE:FDX – Get Free Report) last posted its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). FedEx had a return on equity of 15.59% and a net margin of 4.45%. The business had revenue of $22.16 billion for the quarter, compared to analyst estimates of $21.96 billion. During the same quarter in the prior year, the firm earned $3.86 EPS. The firm’s quarterly revenue was up 1.9% on a year-over-year basis. On average, analysts anticipate that FedEx Co. will post 19.14 EPS for the current year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. This is an increase from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is currently 36.39%.
Wall Street Analyst Weigh In
A number of equities analysts have recently commented on the stock. Sanford C. Bernstein dropped their price target on shares of FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a research report on Friday. Wall Street Zen lowered shares of FedEx from a “buy” rating to a “hold” rating in a research report on Friday, May 30th. Jefferies Financial Group raised shares of FedEx from a “hold” rating to a “buy” rating and dropped their price target for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Citigroup dropped their price target on shares of FedEx from $305.00 to $267.00 and set a “buy” rating on the stock in a research report on Tuesday, April 8th. Finally, Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.54.
View Our Latest Stock Report on FedEx
FedEx Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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