Benchmark Capital Advisors cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 15.4% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,100 shares of the shipping service provider’s stock after selling 200 shares during the quarter. Benchmark Capital Advisors’ holdings in FedEx Corporation were worth $239,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC acquired a new stake in FedEx Corporation during the 1st quarter worth approximately $100,000. Riggs Asset Managment Co. Inc. lifted its holdings in FedEx Corporation by 163.0% during the 2nd 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 in the last quarter. Cribstone Capital Management LLC lifted its holdings in FedEx Corporation by 1.2% during the 2nd 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 in the last quarter. Alexandria Capital LLC lifted its holdings in FedEx Corporation by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners lifted its holdings in FedEx Corporation by 26.0% during the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after buying an additional 130 shares in the last quarter. Institutional investors own 75.89% of the company’s stock.
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FedEx Corporation (NYSE:FDX) opened at 220.78 on Wednesday. The company has a 50 day moving average of $216.27 and a 200-day moving average of $205.52. The stock has a market capitalization of $59.20 billion, a P/E ratio of 20.81 and a beta of 1.31. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $227.00.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company’s revenue was up 4.1% on a year-over-year basis. During the same period in the prior year, the company earned $2.90 earnings per share. Equities research analysts anticipate that FedEx Corporation will post $12.47 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were issued a $0.50 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.91%. FedEx Corporation’s dividend payout ratio is presently 18.87%.
In related news, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. Insiders sold 27,172 shares of company stock worth $6,039,193 over the last ninety days. 8.45% of the stock is currently owned by corporate insiders.
A number of research firms have issued reports on FDX. KeyCorp began coverage on shares of FedEx Corporation in a report on Tuesday. They set an “overweight” rating and a $260.00 target price on the stock. Zacks Investment Research lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Bank of America Corporation reiterated a “buy” rating and set a $247.00 target price (up from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. Wells Fargo & Company increased their target price on shares of FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $221.00 target price (up from $216.00) on shares of FedEx Corporation in a report on Wednesday, September 20th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $227.14.
FedEx Corporation Company Profile
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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