Campbell Newman Asset Management Inc. maintained its position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,485 shares of the shipping service provider’s stock at the close of the second quarter. Campbell Newman Asset Management Inc.’s holdings in FedEx Corporation were worth $975,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new position in FedEx Corporation during the first quarter valued at $100,000. Riggs Asset Managment Co. Inc. grew its stake in FedEx Corporation by 163.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after acquiring an additional 300 shares in the last quarter. Cribstone Capital Management LLC grew its stake in FedEx Corporation by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares in the last quarter. Alexandria Capital LLC grew its stake in FedEx Corporation by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners grew its stake in FedEx Corporation by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares in the last quarter. 75.89% of the stock is owned by institutional investors.
Shares of FedEx Corporation (NYSE:FDX) opened at 225.06 on Friday. The company’s 50-day moving average is $217.17 and its 200-day moving average is $205.79. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00. The company has a market cap of $60.35 billion, a price-to-earnings ratio of 21.22 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.90 EPS. On average, equities analysts predict that FedEx Corporation will post $12.46 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
In other news, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a legal filing with the SEC, 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 shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, 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. In the last ninety days, insiders have sold 27,172 shares of company stock valued at $6,039,193. 8.45% of the stock is currently owned by insiders.
Several equities analysts recently weighed in on FDX shares. Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 target price (up from $230.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Wells Fargo & Company raised their target price on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Cowen and Company reaffirmed an “outperform” rating and set a $240.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group reaffirmed an “outperform” rating and set a $233.00 target price (down from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Finally, Loop Capital reissued a “buy” rating and issued a $234.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 4th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average price target of $228.26.
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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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