Greenleaf Trust reduced its stake in FedEx Corporation (NYSE:FDX) by 28.8% during the second quarter, Holdings Channel reports. The firm owned 1,477 shares of the shipping service provider’s stock after selling 597 shares during the period. Greenleaf Trust’s holdings in FedEx Corporation were worth $321,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. FNY Managed Accounts LLC bought a new position in shares of FedEx Corporation during the first quarter worth about $100,000. Alexandria Capital LLC boosted its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares during the last quarter. Riggs Asset Managment Co. Inc. boosted its position in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after buying an additional 300 shares during the last quarter. Cribstone Capital Management LLC boosted its position in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares during the last quarter. Finally, Pinnacle Bank bought a new position in shares of FedEx Corporation during the first quarter worth about $122,000. 76.00% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE FDX) traded up 0.76% during trading on Friday, hitting $206.94. The company had a trading volume of 530,789 shares. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The stock has a market capitalization of $55.51 billion, a price-to-earnings ratio of 18.69 and a beta of 1.27. The stock has a 50-day moving average of $211.96 and a 200 day moving average of $199.04.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter last year, the firm posted $3.30 earnings per share. The firm’s revenue was up 21.0% on a year-over-year basis. On average, analysts predict that FedEx Corporation will post $13.56 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.97%. FedEx Corporation’s dividend payout ratio is currently 18.08%.
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A number of brokerages have issued reports on FDX. Zacks Investment Research cut FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets lifted their price objective on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday. CIBC lifted their price objective on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and set a $237.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $221.78.
In related news, insider Henry J. Maier sold 12,580 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total transaction of $2,635,510.00. Following the completion of the sale, the insider now owns 38,177 shares of the company’s stock, valued at $7,998,081.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock valued at $16,447,426 in the last ninety days. 8.67% of the stock is currently owned by insiders.
About FedEx Corporation
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services through companies competing collectively, operating independently and managed collaboratively, under the FedEx brand. The Company’s segments include FedEx Express, TNT Express, FedEx Ground, FedEx Freight and FedEx Services.
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