Whittier Trust Co. of Nevada Inc. reduced its stake in shares of FedEx Corp. (NYSE:FDX) by 7.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,750 shares of the shipping service provider’s stock after selling 150 shares during the period. Whittier Trust Co. of Nevada Inc.’s holdings in FedEx Corp. were worth $265,000 at the end of the most recent reporting period.
A number of other hedge funds have also modified their holdings of the stock. Franklin Resources Inc. raised its stake in shares of FedEx Corp. by 72.4% in the first quarter. Franklin Resources Inc. now owns 481,565 shares of the shipping service provider’s stock valued at $78,363,000 after buying an additional 202,245 shares during the last quarter. Nikko Asset Management Americas Inc. increased its position in FedEx Corp. by 77.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 3,200 shares of the shipping service provider’s stock valued at $517,000 after buying an additional 1,400 shares during the period. Benchmark Capital Advisors purchased a new position in FedEx Corp. during the first quarter valued at $212,000. NN Investment Partners Holdings N.V. purchased a new position in FedEx Corp. during the first quarter valued at $3,906,000. Finally, Royal Bank of Scotland Group PLC increased its position in FedEx Corp. by 5.9% in the first quarter. Royal Bank of Scotland Group PLC now owns 64,629 shares of the shipping service provider’s stock valued at $10,516,000 after buying an additional 3,595 shares during the period. 73.73% of the stock is currently owned by institutional investors.
FedEx Corp. (NYSE:FDX) traded down 0.35% on Tuesday, hitting $173.60. The stock had a trading volume of 867,664 shares. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36. The stock has a market cap of $46.14 billion, a P/E ratio of 25.96 and a beta of 1.28. The company’s 50-day moving average is $168.17 and its 200-day moving average is $163.40.
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 analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company had revenue of $14.70 billion for the quarter. During the same period in the prior year, the company earned $2.42 EPS. The company’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, 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. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio is presently 23.99%.
Several equities analysts have recently weighed in on FDX shares. Wolfe Research upgraded FedEx Corp. from a “market perform” rating to an “outperform” rating in a research report 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 report on Sunday, July 31st. Zacks Investment Research downgraded FedEx Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Vetr downgraded FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price on the stock. in a research report on Monday, August 8th. Finally, Bank of America Corp. restated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average price target of $176.59.
In other FedEx Corp. news, CEO David J. Bronczek sold 32,669 shares of the stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $176.30, for a total transaction of $5,759,544.70. Following the transaction, the chief executive officer now owns 85,356 shares of the company’s stock, valued at approximately $15,048,262.80. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total value of $792,150.00. Following the transaction, the chief executive officer now directly owns 56,265 shares in the company, valued at approximately $8,914,063.95. 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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