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Evercore Wealth Management LLC Has $55.13 Million Stake in FedEx Co. (NYSE:FDX)

Evercore Wealth Management LLC lifted its position in shares of FedEx Co. (NYSE:FDXGet Rating) by 36.1% during the 1st quarter, HoldingsChannel reports. The fund owned 238,243 shares of the shipping service provider’s stock after purchasing an additional 63,220 shares during the period. Evercore Wealth Management LLC’s holdings in FedEx were worth $55,127,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. First Republic Investment Management Inc. boosted its holdings in shares of FedEx by 8.4% during the 1st quarter. First Republic Investment Management Inc. now owns 106,379 shares of the shipping service provider’s stock valued at $24,615,000 after acquiring an additional 8,206 shares in the last quarter. Guardian Wealth Advisors LLC NC acquired a new stake in shares of FedEx during the 1st quarter valued at $226,000. 1832 Asset Management L.P. boosted its holdings in shares of FedEx by 31.2% during the 1st quarter. 1832 Asset Management L.P. now owns 256,668 shares of the shipping service provider’s stock valued at $58,574,000 after acquiring an additional 61,000 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of FedEx by 12.1% during the 1st quarter. Captrust Financial Advisors now owns 104,069 shares of the shipping service provider’s stock valued at $24,157,000 after acquiring an additional 11,220 shares in the last quarter. Finally, IHT Wealth Management LLC boosted its holdings in shares of FedEx by 18.2% during the 1st quarter. IHT Wealth Management LLC now owns 3,618 shares of the shipping service provider’s stock valued at $837,000 after acquiring an additional 557 shares in the last quarter. Institutional investors and hedge funds own 71.62% of the company’s stock.

Insider Activity at FedEx

In other news, Director Amy B. Lane bought 607 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The stock was acquired at an average cost of $228.12 per share, with a total value of $138,468.84. Following the transaction, the director now directly owns 686 shares of the company’s stock, valued at approximately $156,490.32. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FedEx news, EVP Jill Brannon sold 5,620 shares of the business’s stock in a transaction that occurred on Friday, August 5th. The stock was sold at an average price of $237.00, for a total transaction of $1,331,940.00. Following the completion of the sale, the executive vice president now directly owns 8,113 shares of the company’s stock, valued at approximately $1,922,781. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Amy B. Lane acquired 607 shares of the firm’s stock in a transaction on Thursday, June 30th. The shares were bought at an average cost of $228.12 per share, with a total value of $138,468.84. Following the completion of the acquisition, the director now directly owns 686 shares in the company, valued at approximately $156,490.32. The disclosure for this purchase can be found here. Insiders sold 48,810 shares of company stock valued at $11,199,898 in the last three months. Corporate insiders own 8.62% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the topic of several recent research reports. Stephens lifted their target price on FedEx from $285.00 to $295.00 and gave the stock an “overweight” rating in a report on Friday, June 24th. Barclays set a $320.00 target price on FedEx in a report on Friday, June 24th. Deutsche Bank Aktiengesellschaft set a $320.00 target price on FedEx in a report on Thursday, June 30th. JPMorgan Chase & Co. set a $258.00 target price on FedEx in a report on Friday. Finally, Credit Suisse Group set a $314.00 target price on FedEx in a report on Wednesday, August 10th. Five analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $292.35.

FedEx Stock Performance

Shares of FedEx stock opened at $213.84 on Tuesday. FedEx Co. has a one year low of $192.82 and a one year high of $266.79. The firm has a market capitalization of $55.58 billion, a price-to-earnings ratio of 14.95, a PEG ratio of 0.75 and a beta of 1.21. The business has a 50-day simple moving average of $224.20 and a 200 day simple moving average of $218.75. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.43 and a quick ratio of 1.38.

FedEx (NYSE:FDXGet Rating) last issued its earnings results on Thursday, June 23rd. The shipping service provider reported $6.87 EPS for the quarter, missing analysts’ consensus estimates of $6.91 by ($0.04). FedEx had a net margin of 4.09% and a return on equity of 22.29%. The firm had revenue of $24.39 billion during the quarter, compared to the consensus estimate of $24.28 billion. During the same period in the previous year, the firm earned $5.01 earnings per share. On average, research analysts anticipate that FedEx Co. will post 23.16 earnings per share for the current fiscal year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Friday, September 2nd will be given a $1.15 dividend. This represents a $4.60 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Thursday, September 1st. FedEx’s payout ratio is 32.17%.

FedEx Company Profile

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FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company’s FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.

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