Burney Co. lifted its position in FedEx Corporation (NYSE:FDX) by 2.1% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,857 shares of the shipping service provider’s stock after acquiring an additional 305 shares during the quarter. Burney Co.’s holdings in FedEx Corporation were worth $3,198,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC bought a new stake in shares of FedEx Corporation in the 1st quarter worth $100,000. Riggs Asset Managment Co. Inc. grew its stake in shares of FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after acquiring an additional 300 shares in the last quarter. Cribstone Capital Management LLC grew its stake in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares in the last quarter. Alexandria Capital LLC grew its stake in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners grew its stake in shares of FedEx Corporation by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after acquiring an additional 130 shares in the last quarter. Hedge funds and other institutional investors own 75.89% of the company’s stock.
Shares of FedEx Corporation (NYSE FDX) opened at 222.68 on Thursday. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00. The stock has a 50 day moving average of $216.65 and a 200-day moving average of $205.65. The stock has a market capitalization of $59.71 billion, a P/E ratio of 20.99 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the previous year, the firm earned $2.90 earnings per share. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that FedEx Corporation will post $12.49 earnings per share for the current year.
The firm 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 of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.90%. FedEx Corporation’s dividend payout ratio is presently 18.87%.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last three months, insiders sold 27,172 shares of company stock worth $6,039,193. 8.45% of the stock is owned by insiders.
Several analysts have recently issued reports on the stock. Bank of America Corporation reiterated a “buy” rating and issued a $247.00 target price (up previously from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. KeyCorp assumed coverage on shares of FedEx Corporation in a report on Tuesday. They issued an “overweight” rating and a $260.00 price target on the stock. Zacks Investment Research downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday. Stifel Nicolaus reissued a “hold” rating and issued a $221.00 price target (up from $216.00) on shares of FedEx Corporation in a report on Wednesday, September 20th. Finally, Wells Fargo & Company boosted their price target 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. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $227.14.
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FedEx Corporation 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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