Regal Investment Advisors LLC increased its position in shares of FedEx Co. (NYSE:FDX) by 20.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,156 shares of the shipping service provider’s stock after acquiring an additional 360 shares during the quarter. Regal Investment Advisors LLC’s holdings in FedEx were worth $519,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds have also recently made changes to their positions in the company. Bank of Montreal Can acquired a new stake in shares of FedEx during the second quarter worth about $216,966,000. PNC Financial Services Group Inc. increased its stake in shares of FedEx by 209.5% during the second quarter. PNC Financial Services Group Inc. now owns 419,755 shares of the shipping service provider’s stock worth $95,309,000 after buying an additional 284,134 shares during the period. Assenagon Asset Management S.A. purchased a new stake in shares of FedEx during the second quarter worth approximately $62,966,000. Chevy Chase Trust Holdings Inc. purchased a new stake in shares of FedEx during the second quarter worth approximately $58,442,000. Finally, Cornerstone Wealth Management LLC increased its stake in shares of FedEx by 23,047.7% during the second quarter. Cornerstone Wealth Management LLC now owns 240,736 shares of the shipping service provider’s stock worth $1,049,000 after buying an additional 239,696 shares during the period. 72.11% of the stock is currently owned by hedge funds and other institutional investors.
In other FedEx news, Director Susan Patricia Griffith bought 1,000 shares of FedEx stock in a transaction on Wednesday, October 17th. The stock was bought at an average price of $225.16 per share, with a total value of $225,160.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director John A. Edwardson sold 1,160 shares of the firm’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total value 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 disclosure for this sale can be found here. 8.50% of the stock is owned by company insiders.
FedEx (NYSE:FDX) last issued its quarterly earnings results on Monday, September 17th. The shipping service provider reported $3.46 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate 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 prior year, the business earned $2.65 earnings per share. FedEx’s revenue for the quarter was up 11.5% compared to the same quarter last year. As a group, equities research analysts forecast that FedEx Co. will post 17.35 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 2nd. Investors of record on Monday, December 10th will be issued a dividend of $0.65 per share. This represents a $2.60 annualized dividend and a dividend yield of 1.13%. The ex-dividend date of this dividend is Friday, December 7th. FedEx’s dividend payout ratio is presently 16.98%.
A number of analysts recently weighed in on FDX shares. Wolfe Research set a $275.00 target price on shares of FedEx and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Zacks Investment Research upgraded shares of FedEx from a “sell” rating to a “hold” rating in a research note on Monday. Loop Capital upped their target price on shares of FedEx to $318.00 and gave the stock a “buy” rating in a research note on Tuesday, September 18th. Berenberg Bank started coverage on shares of FedEx in a research note on Friday, September 21st. They issued a “buy” rating and a $300.00 price target on the stock. Finally, Robert W. Baird increased their price target on shares of FedEx from $265.00 to $270.00 and gave the company an “outperform” rating in a research note on Tuesday, September 18th. Three equities research analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average target price of $286.35.
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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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