Grandfield & Dodd LLC increased its stake in FedEx Corp. (NYSE:FDX) by 5.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 78,590 shares of the shipping service provider’s stock after buying an additional 3,733 shares during the period. FedEx Corp. makes up 1.7% of Grandfield & Dodd LLC’s investment portfolio, making the stock its 24th largest position. Grandfield & Dodd LLC’s holdings in FedEx Corp. were worth $11,929,000 as of its most recent filing with the SEC.
Other institutional investors also recently modified their holdings of the company. Wellington Management Group LLP increased its stake in FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock valued at $1,389,772,000 after buying an additional 2,881,893 shares in the last quarter. Primecap Management Co. CA increased its stake in FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock valued at $2,622,520,000 after buying an additional 1,371,175 shares in the last quarter. Bank of Montreal Can acquired a new stake in FedEx Corp. during the second quarter valued at about $98,813,000. Southpoint Capital Advisors LP acquired a new stake in FedEx Corp. during the first quarter valued at about $90,607,000. Finally, Prudential Financial Inc. increased its stake in FedEx Corp. by 30.3% in the first quarter. Prudential Financial Inc. now owns 1,194,772 shares of the shipping service provider’s stock valued at $194,414,000 after buying an additional 277,960 shares in the last quarter. 73.72% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.40% during trading on Tuesday, reaching $173.60. 1,492,342 shares of the company were exchanged. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36. The stock has a market capitalization of $46.14 billion, a P/E ratio of 25.96 and a beta of 1.28. The stock has a 50-day moving average of $167.23 and a 200 day moving average of $163.02.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.09. The business had revenue of $14.70 billion for the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.42 EPS. On average, equities analysts anticipate that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a dividend of $0.40 per share. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. FedEx Corp.’s dividend payout ratio is currently 23.99%.
Several research firms have issued reports on FDX. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price objective for the company. in a research note on Tuesday, September 27th. Robert W. Baird reiterated an “outperform” rating and set a $185.00 price objective on shares of FedEx Corp. in a research note on Friday, September 23rd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Barclays PLC reiterated a “top pick” rating on shares of FedEx Corp. in a research note on Wednesday, September 21st. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. FedEx Corp. presently has an average rating of “Buy” and a consensus price target of $176.59.
In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of FedEx Corp. stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total transaction of $920,876.45. Following the sale, the insider now owns 27,720 shares in the company, valued at $4,896,738. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. 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 sale, the executive vice president now owns 53,399 shares in the company, valued at approximately $8,784,669.49. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
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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