First Citizens Bank & Trust Co. decreased its position in shares of FedEx Corp. (NYSE:FDX) by 14.2% during the second quarter, Holdings Channel reports. The institutional investor owned 4,217 shares of the shipping service provider’s stock after selling 696 shares during the period. First Citizens Bank & Trust Co.’s holdings in FedEx Corp. were worth $640,000 as of its most recent SEC filing.
A number of other hedge funds have also recently bought and sold shares of FDX. Invictus RG bought a new stake in FedEx Corp. during the first quarter worth about $161,000. Financial Architects Inc raised its stake in FedEx Corp. by 56.2% in the second quarter. Financial Architects Inc now owns 1,465 shares of the shipping service provider’s stock worth $222,000 after buying an additional 527 shares during the period. Mercer Capital Advisers Inc. bought a new stake in FedEx Corp. during the second quarter worth about $233,000. Quadrant Capital Group LLC raised its stake in FedEx Corp. by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,623 shares of the shipping service provider’s stock worth $238,000 after buying an additional 15 shares during the period. Finally, Atria Investments LLC bought a new stake in FedEx Corp. during the second quarter worth about $241,000. 73.73% of the stock is owned by institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.02% during mid-day trading on Friday, reaching $170.98. The company had a trading volume of 799,585 shares. The company has a market cap of $45.44 billion, a price-to-earnings ratio of 25.57 and a beta of 1.28. The firm’s 50-day moving average price is $168.56 and its 200 day moving average price is $163.60. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36.
FedEx Corp. (NYSE:FDX) last released its earnings results 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 company had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same period last year, the company posted $2.42 earnings per share. Equities analysts expect that FedEx Corp. will post $12.14 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is currently 23.99%.
FDX has been the subject of a number of research analyst reports. Cowen and Company reissued a “buy” rating and issued a $180.00 price target on shares of FedEx Corp. in a research report on Saturday, June 18th. Credit Suisse Group AG reissued a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Bank of America Corp. reissued a “buy” rating on shares of FedEx Corp. in a research report on Thursday, June 16th. Citigroup Inc. reissued a “buy” rating and issued a $200.00 price target on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $179.00 price target (up from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $176.59.
In related news, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the completion of the sale, the executive vice president now directly owns 150,665 shares in the company, valued at approximately $24,020,520.95. The sale was disclosed in a filing with the SEC, which is available through this link. Also, EVP Christine P. Richards sold 80,080 shares of the company’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $173.59, for a total value of $13,901,087.20. Following the sale, the executive vice president now owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The disclosure for this sale can be found here. 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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