Los Angeles Capital Management & Equity Research Inc. decreased its stake in shares of FedEx Corp. (NYSE:FDX) by 26.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,438 shares of the shipping service provider’s stock after selling 881 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in FedEx Corp. were worth $370,000 at the end of the most recent reporting period.
A number of other institutional investors have also modified their holdings of FDX. Invictus RG purchased a new stake in shares of FedEx Corp. during the first quarter valued at $161,000. Beese Fulmer Investment Management Inc. increased its stake in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock valued at $200,000 after buying an additional 32 shares during the period. Benchmark Capital Advisors purchased a new stake in shares of FedEx Corp. during the first quarter valued at $212,000. Twin Capital Management Inc. purchased a new stake in shares of FedEx Corp. during the second quarter valued at $212,000. Finally, Financial Architects Inc increased its stake in shares of FedEx Corp. by 56.2% in the second quarter. Financial Architects Inc now owns 1,465 shares of the shipping service provider’s stock valued at $222,000 after buying an additional 527 shares during the period. 73.78% of the stock is currently owned by institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.81% during mid-day trading on Monday, reaching $175.80. 1,521,474 shares of the company traded hands. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $176.16. The company has a market capitalization of $46.72 billion, a P/E ratio of 26.29 and a beta of 1.35. The stock’s 50-day moving average is $165.36 and its 200-day moving average is $161.49.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The firm earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.61% and a return on equity of 20.62%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. On average, equities analysts predict that FedEx Corp. will post $12.15 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
Several equities research analysts have weighed in on FDX shares. Wolfe Research upgraded shares of FedEx Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, July 1st. Cowen and Company restated a “market perform” rating and issued a $110.00 target price on shares of FedEx Corp. in a research note on Sunday, July 31st. Zacks Investment Research downgraded shares of FedEx Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price for the company. in a research note on Monday, August 8th. Finally, Bank of America Corp. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, June 16th. Nine investment analysts have rated the stock with a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $176.41.
In other news, EVP Alan B. Graf, Jr. sold 7,400 shares of the firm’s stock in a transaction on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the sale, the executive vice president now owns 150,665 shares in the company, valued at approximately $24,020,520.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 5,000 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the completion of the sale, the executive vice president now owns 53,399 shares of the company’s stock, valued at approximately $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
FedEx Corp. 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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