Advisory Services Network LLC boosted its stake in shares of FedEx Corp. (NYSE:FDX) by 3.3% during the second quarter, Holdings Channel reports. The fund owned 2,210 shares of the shipping service provider’s stock after buying an additional 71 shares during the period. Advisory Services Network LLC’s holdings in FedEx Corp. were worth $335,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. Invictus RG purchased a new position in shares of FedEx Corp. during the first quarter valued at approximately $161,000. Benchmark Capital Advisors purchased a new position in shares of FedEx Corp. during the first quarter valued at approximately $212,000. Financial Architects Inc increased its position 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 last quarter. Mercer Capital Advisers Inc. purchased a new position in shares of FedEx Corp. during the second quarter valued at approximately $233,000. Finally, Atria Investments LLC purchased a new position in shares of FedEx Corp. during the second quarter valued at approximately $241,000. Institutional investors own 73.72% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.05% on Friday, hitting $173.01. 1,418,184 shares of the company traded hands. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36. The company has a market capitalization of $45.98 billion, a PE ratio of 25.88 and a beta of 1.28. The stock’s 50-day moving average price is $168.01 and its 200-day moving average price is $163.31.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company earned $14.70 billion during the quarter. During the same quarter last year, the firm earned $2.42 EPS. The company’s revenue was up 19.5% on a year-over-year basis. On average, equities analysts predict that FedEx Corp. will post $12.14 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
FDX has been the topic of a number of research analyst reports. Cowen and Company restated a “buy” rating and issued a $180.00 target price on shares of FedEx Corp. in a research note on Saturday, June 18th. Stifel Nicolaus restated a “buy” rating and issued a $179.00 target price (up from $178.00) on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Oppenheimer Holdings Inc. upped their target price on shares of FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. Vetr upgraded shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 target price on the stock in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. restated a “buy” rating and issued a $200.00 target price on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Ten 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. FedEx Corp. has an average rating of “Buy” and a consensus price target of $176.59.
In other news, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the completion of the transaction, the chief executive officer now owns 56,265 shares in the company, valued at approximately $8,914,063.95. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, EVP Robert B. Carter sold 24,784 shares of the company’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.95, for a total transaction of $4,385,528.80. Following the completion of the transaction, the executive vice president now owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. 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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