Berkshire Asset Management Acquires New Stake in FedEx Co …
Berkshire Asset Management acquired a new position in shares of FedEx Co. (NYSE:FDX) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 2,062 shares of the shipping service provider s stock, valued at approximately $307,000.
A number of other hedge funds have also added to or reduced their stakes in the stock. Assetmark acquired a new stake in FedEx during the third quarter worth approximately $0. Crow Point Partners acquired a new stake in FedEx during the third quarter worth approximately $265,000. Prospera Financial Services increased its stake in FedEx by 28.0% in the fourth quarter. Prospera Financial Services now owns 2,001 shares of the shipping service provider s stock worth $298,000 after buying an additional 438 shares during the last quarter. Chelsea Counsel Company increased its stake in FedEx by 6.3% in the third quarter. Chelsea Counsel Company now owns 2,252 shares of the shipping service provider s stock worth $324,000 after buying an additional 134 shares during the last quarter. Finally, J. W. Burns & Company increased its stake in FedEx by 7.4% in the fourth quarter. J. W. Burns & Company now owns 2,765 shares of the shipping service provider s stock worth $412,000 after buying an additional 190 shares during the last quarter. Shares of FedEx Co. (NYSE:FDX) traded up 1.21% during midday trading on Tuesday, reaching $127.56. 350,522 shares of the company traded hands. The company has a 50 day moving average of $140.90 and a 200 day moving average of $153.87. The firm has a market capitalization of $35.16 billion and a P/E ratio of 32.71. FedEx Co. has a 12 month low of $119.71 and a 12 month high of $185.19. FedEx (NYSE:FDX) last issued its quarterly earnings results on Wednesday, December 16th. The shipping service provider reported $2.58 EPS for the quarter, topping the consensus estimate of $2.52 by $0.06. During the same period last year, the company posted $2.14 EPS. The company had revenue of $12.50 billion for the quarter, compared to analyst estimates of $12.45 billion. The business s revenue for the quarter was up 5.0% on a year-over-year basis. On average, equities research analysts predict that FedEx Co. will post $10.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, January 4th. Investors of record on Monday, December 14th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.79%. The ex-dividend date of this dividend was Thursday, December 10th. A number of brokerages have recently issued reports on FDX. Robert W. Baird cut their price target on shares of FedEx from $187.00 to $182.00 in a report on Friday, November 6th. Citigroup Inc. restated a buy rating on shares of FedEx in a report on Tuesday, October 27th. Oppenheimer restated a buy rating on shares of FedEx in a report on Wednesday, October 21st. TheStreet upgraded shares of FedEx from a hold rating to a buy rating in a report on Tuesday, October 6th. Finally, Stifel Nicolaus upgraded shares of FedEx from a hold rating to a buy rating and set a $172.00 price target for the company in a report on Tuesday, October 6th. Eleven research analysts have rated the stock with a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and an average target price of $182.22. In other news, CEO Henry J. Maier sold 6,177 shares of the stock in a transaction on Tuesday, December 22nd. The shares were sold at an average price of $146.43, for a total value of $904,498.11. Following the completion of the sale, the chief executive officer now owns 20,857 shares of the company s stock, valued at $3,054,090.51. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 33,155 shares of the stock in a transaction on Friday, December 18th. The stock was sold at an average price of $147.59, for a total transaction of $4,893,346.45. Following the completion of the sale, the executive vice president now directly owns 154,430 shares of the company s stock, valued at approximately $22,792,323.70. The disclosure for this sale can be found here.
FedEx Corporation (NYSE:FDX) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight. FedEx Ground provides business and residential money-back guaranteed ground package delivery services. FedEx Freight offers less-than-truckload (LTL) freight services. FedEx Services provides FedEx s other companies with sales, marketing, information technology, communications, customer service and certain other back-office support. The Company s subsidiaries include Federal Express Corporation, FedEx Trade Networks, Inc., FedEx Ground Package System, Inc., FedEx SmartPost, Inc., FedEx Corporate Services, Inc. and GENCO Distribution System, Inc., among others.
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