Independent Investors Inc. held its stake in shares of FedEx Corp. (NYSE:FDX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 8,000 shares of the shipping service provider’s stock at the end of the second quarter. Independent Investors Inc.’s holdings in FedEx Corp. were worth $1,214,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in FDX. Invictus RG acquired a new stake in shares of FedEx Corp. during the first quarter worth $161,000. Financial Architects Inc raised 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 worth $222,000 after buying an additional 527 shares in the last quarter. Mercer Capital Advisers Inc. acquired a new stake in shares of FedEx Corp. during the second quarter worth $233,000. Quadrant Capital Group LLC raised its stake in shares of 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 in the last quarter. Finally, Atria Investments LLC acquired a new stake in shares of FedEx Corp. during the second quarter worth $241,000. 73.67% of the stock is currently owned by institutional investors.
FedEx Corp. (NYSE:FDX) traded down 0.06% during trading on Tuesday, reaching $170.74. 897,640 shares of the company’s stock were exchanged. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $177.36. The company’s 50-day moving average is $168.89 and its 200-day moving average is $163.74. The company has a market capitalization of $45.38 billion, a PE ratio of 25.54 and a beta of 1.28.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm earned $14.70 billion during the quarter. During the same period in the prior year, the business posted $2.42 EPS. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities research analysts expect that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s dividend payout ratio is 23.99%.
FDX has been the topic of several research analyst reports. Vetr lowered FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price target on the stock. in a research note on Monday, August 8th. Citigroup Inc. reissued a “buy” rating and set a $200.00 price target on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Stifel Nicolaus reissued a “buy” rating and set a $179.00 price target (up previously from $178.00) on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Credit Suisse Group AG reissued a “buy” rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. reissued a “buy” rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Ten investment analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. FedEx Corp. has a consensus rating of “Buy” and an average price target of $176.59.
In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the sale, the insider now owns 27,720 shares in the company, valued at approximately $4,896,738. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 24,784 shares of the stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $176.95, for a total transaction of $4,385,528.80. Following the completion of the sale, 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. 8.67% of the stock is currently owned by corporate insiders.
About FedEx Corp.
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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