Banque Pictet & Cie SA maintained its position in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,347 shares of the shipping service provider’s stock at the end of the second quarter. Banque Pictet & Cie SA’s holdings in FedEx Corporation were worth $727,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the business. FNY Managed Accounts LLC acquired a new stake in shares of FedEx Corporation in the first quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. lifted its position in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares during the last quarter. Cribstone Capital Management LLC lifted its position in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the last quarter. Alexandria Capital LLC lifted its position in shares of FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after buying an additional 13 shares during the last quarter. Finally, Hefty Wealth Partners lifted its position in shares of FedEx Corporation by 26.0% in the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after buying an additional 130 shares during the last quarter. Hedge funds and other institutional investors own 75.89% of the company’s stock.
FedEx Corporation (FDX) opened at 225.06 on Friday. The stock has a 50 day moving average price of $217.17 and a 200 day moving average price of $205.79. The company has a market cap of $60.35 billion, a price-to-earnings ratio of 21.22 and a beta of 1.31. FedEx Corporation has a 52 week low of $168.00 and a 52 week high of $227.00.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the business posted $2.90 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. On average, equities analysts forecast that FedEx Corporation will post $12.46 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.89%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
A number of analysts have recently issued reports on FDX shares. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 price objective for the company. in a research report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $245.00 price objective on shares of FedEx Corporation in a research report on Wednesday, September 6th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the stock. FedEx Corporation currently has an average rating of “Buy” and a consensus price target of $228.26.
In related news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction dated Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders sold 27,172 shares of company stock worth $6,039,193 in the last quarter. 8.45% of the stock is currently owned by company insiders.
FedEx Corporation 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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