Bartlett & Co. LLC raised its position in FedEx Corp. (NYSE:FDX) by 0.4% during the second quarter, Holdings Channel reports. The firm owned 154,011 shares of the shipping service provider’s stock after buying an additional 612 shares during the period. Bartlett & Co. LLC’s holdings in FedEx Corp. were worth $23,376,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Sun Life Financial INC acquired a new position in FedEx Corp. during the first quarter worth $52,233,000. Invictus RG acquired a new position in FedEx Corp. during the first quarter worth $161,000. Benchmark Capital Advisors acquired a new position in FedEx Corp. during the first quarter worth $212,000. Financial Architects Inc raised its position 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. Finally, Stratos Wealth Partners LTD. acquired a new position in FedEx Corp. during the first quarter worth $242,000. 73.78% of the stock is currently owned by institutional investors and hedge funds.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.19% during midday trading on Thursday, reaching $175.12. 1,947,429 shares of the company were exchanged. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36. The stock’s 50-day moving average price is $166.73 and its 200-day moving average price is $162.44. The company has a market capitalization of $46.54 billion, a PE ratio of 26.19 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data 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. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company earned $14.70 billion during the quarter. During the same period in the previous year, the company earned $2.42 EPS. FedEx Corp.’s revenue was up 19.5% on a year-over-year basis. Analysts anticipate that FedEx Corp. will post $12.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is currently 23.99%.
A number of research analysts have weighed in on the stock. Cowen and Company reissued a “buy” rating and issued a $180.00 target price on shares of FedEx Corp. in a research note on Saturday, June 18th. Deutsche Bank AG raised their price target on shares of FedEx Corp. from $190.00 to $198.00 and gave the stock a “buy” rating in a report on Thursday, June 23rd. Zacks Investment Research upgraded shares of FedEx Corp. from a “hold” rating to a “buy” rating and set a $184.00 price target for the company in a report on Thursday, June 2nd. Robert W. Baird restated a “buy” rating and set a $176.00 price target on shares of FedEx Corp. in a report on Thursday, June 23rd. Finally, Stifel Nicolaus raised their price target on shares of FedEx Corp. from $179.00 to $186.00 and gave the stock a “buy” rating in a report on Wednesday, September 21st. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has issued a strong buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $176.59.
In other news, Director John A. Edwardson sold 2,882 shares of the stock in a transaction on Friday, August 5th. The shares were sold at an average price of $162.63, for a total value of $468,699.66. Following the completion of the sale, the director now owns 29,090 shares of the company’s stock, valued at $4,730,906.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the 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 of the company’s stock, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by insiders.
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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