LeJeune Puetz Investment Counsel LLC raised its holdings in FedEx Co. (NYSE:FDX) by 60.2% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,990 shares of the shipping service provider’s stock after buying an additional 1,875 shares during the period. LeJeune Puetz Investment Counsel LLC’s holdings in FedEx were worth $905,000 as of its most recent SEC filing.
A number of other institutional investors have also bought and sold shares of the business. Oregon Public Employees Retirement Fund grew its holdings in shares of FedEx by 15,104.4% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 14,063,136 shares of the shipping service provider’s stock worth $87,000 after purchasing an additional 13,970,642 shares during the last quarter. Dodge & Cox grew its holdings in shares of FedEx by 20.0% during the third quarter. Dodge & Cox now owns 12,391,153 shares of the shipping service provider’s stock worth $2,983,666,000 after purchasing an additional 2,065,853 shares during the last quarter. Norges Bank purchased a new position in shares of FedEx during the fourth quarter worth about $303,958,000. Packer & Co Ltd grew its holdings in shares of FedEx by 595.0% during the fourth quarter. Packer & Co Ltd now owns 1,239,800 shares of the shipping service provider’s stock worth $28,779,000 after purchasing an additional 1,061,416 shares during the last quarter. Finally, Lakewood Capital Management LP grew its holdings in shares of FedEx by 102.8% during the fourth quarter. Lakewood Capital Management LP now owns 943,200 shares of the shipping service provider’s stock worth $152,166,000 after purchasing an additional 478,000 shares during the last quarter. Institutional investors own 71.70% of the company’s stock.
In other news, CEO Frederick W. Smith sold 155,650 shares of FedEx stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the sale, the chief executive officer now directly owns 14,945,124 shares in the company, valued at approximately $2,837,032,888.92. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John L. Merino sold 2,300 shares of FedEx stock in a transaction that occurred on Monday, February 4th. The shares were sold at an average price of $182.24, for a total transaction of $419,152.00. Following the sale, the vice president now owns 30,185 shares of the company’s stock, valued at $5,500,914.40. The disclosure for this sale can be found here. In the last 90 days, insiders sold 187,950 shares of company stock valued at $35,170,622. 8.50% of the stock is owned by insiders.
FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, March 19th. The shipping service provider reported $3.03 EPS for the quarter, missing the Zacks’ consensus estimate of $3.10 by ($0.07). The firm had revenue of $17.01 billion during the quarter, compared to analyst estimates of $17.70 billion. FedEx had a net margin of 5.25% and a return on equity of 22.67%. FedEx’s revenue for the quarter was up 2.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.72 EPS. On average, sell-side analysts anticipate that FedEx Co. will post 15.44 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, April 1st. Investors of record on Monday, March 11th were given a $0.65 dividend. The ex-dividend date of this dividend was Friday, March 8th. This represents a $2.60 dividend on an annualized basis and a yield of 1.33%. FedEx’s payout ratio is currently 16.98%.
Several brokerages have issued reports on FDX. Credit Suisse Group reaffirmed a “buy” rating and set a $241.00 price objective on shares of FedEx in a report on Monday, April 1st. Berenberg Bank lowered FedEx from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $245.00 to $200.00 in a report on Monday, April 1st. Susquehanna Bancshares reissued a “neutral” rating and set a $174.00 price target on shares of FedEx in a report on Thursday, March 28th. Daiwa Capital Markets lowered FedEx from an “outperform” rating to a “neutral” rating and lowered their price target for the stock from $187.00 to $179.00 in a report on Thursday, March 21st. They noted that the move was a valuation call. Finally, Wells Fargo & Co lowered their price target on FedEx from $285.00 to $220.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and fourteen have assigned a buy rating to the company’s stock. FedEx currently has a consensus rating of “Buy” and an average target price of $214.19.
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.
Further Reading: Balance Sheet
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