Morris Capital Advisors LLC Has $507,000 Position in FedEx Corporation (FDX)

Morris Capital Advisors LLC lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 2,596 shares of the shipping service provider’s stock after selling 26 shares during the period. Morris Capital Advisors LLC’s holdings in FedEx Corporation were worth $507,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in FDX. Alexandria Capital LLC increased its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Pinnacle Bank purchased a new position in shares of FedEx Corporation during the first quarter valued at about $122,000. Adirondack Trust Co. increased its position in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares in the last quarter. Brick & Kyle Associates increased its position in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Finally, Ancora Advisors LLC purchased a new position in shares of FedEx Corporation during the fourth quarter valued at about $157,000. 77.04% of the stock is owned by hedge funds and other institutional investors.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

FedEx Corporation (FDX) opened at 210.45 on Tuesday. FedEx Corporation has a one year low of $145.00 and a one year high of $211.88. The company’s 50-day moving average is $197.11 and its 200-day moving average is $192.93. The firm has a market cap of $56.27 billion, a PE ratio of 29.92 and a beta of 1.28.

FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.62 by $0.27. The business had revenue of $15 billion during the quarter, compared to the consensus estimate of $15 billion. FedEx Corporation had a net margin of 3.31% and a return on equity of 21.32%. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $2.51 EPS. On average, analysts forecast that FedEx Corporation will post $11.95 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 6th. Investors of record on Thursday, June 22nd will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date is Tuesday, June 20th. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. FedEx Corporation’s dividend payout ratio (DPR) is 22.70%.

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Several brokerages recently issued reports on FDX. Zacks Investment Research downgraded shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. Barclays PLC reissued an “overweight” rating and set a $230.00 price target on shares of FedEx Corporation in a report on Monday, March 20th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of FedEx Corporation in a report on Thursday, March 23rd. J P Morgan Chase & Co lifted their price target on shares of FedEx Corporation to $236.00 in a report on Wednesday, March 22nd. Finally, CIBC lifted their price target on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $210.99.

In other FedEx Corporation news, CEO Michael L. Ducker sold 12,899 shares of the firm’s stock in a transaction that occurred on Thursday, March 23rd. The shares were sold at an average price of $193.88, for a total transaction of $2,500,858.12. Following the completion of the transaction, the chief executive officer now owns 61,779 shares in the company, valued at approximately $11,977,712.52. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 135,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total transaction of $25,517,700.00. Following the transaction, the chief executive officer now owns 15,326,133 shares of the company’s stock, valued at approximately $2,896,945,659.66. The disclosure for this sale can be found here. In the last quarter, insiders sold 195,598 shares of company stock valued at $37,347,615. 8.67% of the stock is owned by company insiders.

About FedEx Corporation

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “FDX”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX).

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