M Holdings Securities Inc. acquired a new position in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,041 shares of the shipping service provider’s stock, valued at approximately $226,000.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. grew its position in FedEx Corporation by 2.7% in the 2nd quarter. Vanguard Group Inc. now owns 18,490,065 shares of the shipping service provider’s stock worth $4,018,446,000 after purchasing an additional 492,840 shares during the period. BlackRock Inc. grew its position in FedEx Corporation by 1,912.1% in the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares during the period. FMR LLC grew its position in FedEx Corporation by 0.3% in the 2nd quarter. FMR LLC now owns 4,530,154 shares of the shipping service provider’s stock worth $984,539,000 after purchasing an additional 15,382 shares during the period. Ameriprise Financial Inc. grew its position in FedEx Corporation by 0.4% in the 2nd quarter. Ameriprise Financial Inc. now owns 3,659,103 shares of the shipping service provider’s stock worth $795,260,000 after purchasing an additional 13,383 shares during the period. Finally, Capital World Investors grew its position in FedEx Corporation by 16.1% in the 2nd quarter. Capital World Investors now owns 3,614,899 shares of the shipping service provider’s stock worth $785,626,000 after purchasing an additional 501,617 shares during the period. Institutional investors own 76.22% of the company’s stock.
Shares of FedEx Corporation (FDX) opened at $219.94 on Wednesday. The company has a current ratio of 1.63, a quick ratio of 1.57 and a debt-to-equity ratio of 0.91. The stock has a market cap of $59,375.95, a PE ratio of 18.59, a PEG ratio of 1.39 and a beta of 1.37. FedEx Corporation has a 1 year low of $182.75 and a 1 year high of $231.35.
FedEx Corporation (NYSE:FDX) last announced its 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 business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.90 earnings per share. sell-side analysts anticipate that FedEx Corporation will post 12.47 earnings per share for the current fiscal year.
In other news, insider Henry J. Maier sold 11,150 shares of the company’s stock in a transaction dated Thursday, October 26th. The shares were sold at an average price of $228.46, for a total transaction of $2,547,329.00. Following the sale, the insider now directly owns 36,747 shares in the company, valued at approximately $8,395,219.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 40,094 shares of company stock worth $9,024,637 over the last 90 days. Corporate insiders own 8.45% of the company’s stock.
FDX has been the subject of a number of research analyst reports. Vetr downgraded shares of FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a research report on Thursday, August 31st. J P Morgan Chase & Co lifted their target price on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday, October 12th. Credit Suisse Group reaffirmed an “outperform” rating and issued a $233.00 target price (down previously from $242.00) on shares of FedEx Corporation in a research report on Friday, September 15th. Robert W. Baird reaffirmed a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research report on Tuesday, September 12th. Finally, Cowen and Company reissued a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research report on Tuesday, September 12th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $230.21.
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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