James Investment Research Inc. lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 19.5% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 145,214 shares of the shipping service provider’s stock after selling 35,186 shares during the period. FedEx Corporation comprises about 1.0% of James Investment Research Inc.’s holdings, making the stock its 27th biggest position. James Investment Research Inc. owned about 0.05% of FedEx Corporation worth $31,559,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of FDX. FNY Managed Accounts LLC purchased a new stake in FedEx Corporation during the first quarter worth about $100,000. Brick & Kyle Associates increased its holdings in FedEx Corporation by 1.5% during the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares during the last quarter. Hefty Wealth Partners increased its holdings in FedEx Corporation by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after buying an additional 130 shares during the last quarter. Patten Group Inc. increased its holdings in FedEx Corporation by 700.0% during the first quarter. Patten Group Inc. now owns 760 shares of the shipping service provider’s stock worth $149,000 after buying an additional 665 shares during the last quarter. Finally, Guardian Life Insurance Co. of America increased its holdings in FedEx Corporation by 1.0% during the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after buying an additional 9 shares during the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.
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In other FedEx Corporation news, VP John L. Merino sold 7,200 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the sale, the vice president now owns 33,908 shares in the company, valued at $7,163,404.08. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director John A. Edwardson sold 2,208 shares of the stock in a transaction 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 completion of the sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock worth $16,447,426. Insiders own 8.45% of the company’s stock.
A number of analysts recently issued reports on FDX shares. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Tuesday, May 23rd. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective for the company in a report on Wednesday, May 17th. J P Morgan Chase & Co restated an “overweight” rating and set a $237.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group raised their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Finally, Cowen and Company restated an “outperform” rating and set a $240.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $221.72.
Shares of FedEx Corporation (NYSE:FDX) traded up 0.73% during midday trading on Monday, reaching $212.02. 564,331 shares of the company’s stock traded hands. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The firm has a market capitalization of $56.88 billion, a PE ratio of 19.15 and a beta of 1.28. The stock’s 50-day moving average price is $209.32 and its 200 day moving average price is $201.31.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter last year, the firm posted $3.30 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $13.53 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. FedEx Corporation’s payout ratio is 18.08%.
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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