It has been reported that the Czech National Bank has sold 674 of its shares in FedEx Co. (NYSE:FDX) during the first quarter, reducing its stake in the shipping service provider by 2.4%. This announcement was revealed within the company’s most recent SEC filing. The Czech National Bank currently owns 27,355 shares of FedEx and their holdings were worth an estimated $6,250,000 as of their most recent public filing.
Whilst this news will undoubtedly be of interest to those within the industry and beyond, it is worth considering that FedEx has also recently revealed plans to pay a quarterly dividend on July 3rd. Investors who are recorded as owners of a record on June 12th can expect to be paid $1.26 per share; whereas those who had sold their shares on or before June 9th would have forfeited such a payout.
This news has caused quite a stir among analysts too with multiple reports having been published about those hotly debated topics: target pricing and investment ratings. Argus increased its target price up to $260 while Barclays gave FDX an overweight rating and raised its target from $240 to $280—a bold move indeed! Raymond James moderated the group while Susquehanna and The Goldman Sachs Group all increased their price objectives between March and April earlier this year.
Despite ongoing mixed opinions among analysts over these changes, it is clear that there remains considerable enthusiasm around both this company’s efforts in the domain of international shipping industries as well as among those interested parties looking for viable investment opportunities today. With data indicating that FedEx stock currently holds a consensus rating of “Moderate Buy” while Bloomberg averages place predicted prices at around $247.86—an average almost identical to Deutsche Bank Securities’ analysis—it seems likely many investors might pursue further evaluations at this intersection moving forward.
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FedEx Announces Strong Q4 Earnings and Raises Quarterly Dividend Payment
FedEx Co. Announces Strong Q4 Earnings and Increase in Quarterly Dividend
On Tuesday, June 20th, FedEx Co. released its earnings report for the fourth quarter of the fiscal year 2017. The shipping service provider delivered a solid performance that exceeded Wall Street expectations with earnings per share coming in at $4.94, ahead of the consensus estimate of $4.85 by $0.09. Despite a decline in revenue during the quarter, FedEx’s net income grew to $1.02 billion compared to $897 million from the same period last year.
Several institutional investors also made changes to their positions in the stock recently, demonstrating growing confidence in the company’s potential for growth. Among these investors were Salem Investment Counselors Inc., Spire Wealth Management, Mitchell Mcleod Pugh & Williams Inc., Laraway Financial Advisors Inc., and Legacy Wealth Asset Management LLC.
Furthermore, FedEx recently announced an increase in its quarterly dividend payment to shareholders from $1.15 to $1.26 per share, payable on July 3rd to investors of record on June 12th.
Despite these positive developments, insiders sold 146,486 shares of company stock worth $34,001,009 over the last three months –a sign that some shareholders might be cashing out amid concerns about future growth prospects.
Overall, FedEx has shown strong fundamentals throughout this quarter with both its EPS and net income surpassing Wall Street predictions and a sizable increase in its dividend payouts as well as institutional investor support indicating positive prospects for long-term growth potential.
FDX currently trades at $234.93 as of today’s date (insert date), with a market capitalization of $59.05 billion and a P/E ratio of 15.16 indicating wider investor confidence albeit increased selling from insiders signalling possible caution over longer term growth prospects.