Daiwa Securities Group Inc. trimmed its position in FedEx Corporation (NYSE:FDX) by 2.4% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,436 shares of the shipping service provider’s stock after selling 230 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FedEx Corporation were worth $2,051,000 at the end of the most recent quarter.
Several other institutional investors have also recently added to or reduced their stakes in the company. Cribstone Capital Management LLC raised its holdings in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after purchasing an additional 6 shares during the period. Guardian Life Insurance Co. of America raised its holdings in shares of FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after purchasing an additional 9 shares during the period. Brick & Kyle Associates raised its holdings in shares of FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after purchasing an additional 10 shares during the period. Park National Corp OH raised its holdings in shares of FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after purchasing an additional 10 shares during the period. Finally, Argent Trust Co raised its holdings in shares of FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock worth $882,000 after purchasing an additional 12 shares during the period. Institutional investors own 75.86% of the company’s stock.
FDX has been the topic of a number of research reports. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a report on Wednesday, May 17th. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective on the stock in a report on Tuesday, May 23rd. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Seaport Global Securities initiated coverage on FedEx Corporation in a report on Tuesday, June 6th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus raised their price objective on FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a report on Monday, June 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $221.72.
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FedEx Corporation (NYSE:FDX) opened at 215.54 on Wednesday. The stock has a 50 day moving average price of $209.41 and a 200 day moving average price of $201.46. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The firm has a market cap of $57.82 billion, a price-to-earnings ratio of 19.47 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.30 EPS. On average, equities analysts expect that FedEx Corporation will post $13.53 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $0.50 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.93%. FedEx Corporation’s dividend payout ratio (DPR) is 18.08%.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Henry J. Maier sold 12,580 shares of the company’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $209.50, for a total value of $2,635,510.00. Following the completion of the transaction, the insider now directly owns 38,177 shares of the company’s stock, valued at approximately $7,998,081.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. Insiders own 8.45% of the company’s stock.
FedEx Corporation 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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