Daniel Devine & Co continued to hold its position in FedEx Corp. (NYSE:FDX) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 13,660 shares of the shipping service provider’s stock at the end of the second quarter. FedEx Corp. makes up approximately 1.4% of Daniel Devine & Co’s holdings, making the stock its 21st largest position. Daniel Devine & Co’s holdings in FedEx Corp. were worth $2,073,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. OMERS ADMINISTRATION Corp acquired a new stake in FedEx Corp. during the first quarter worth $1,009,000. BB&T Securities LLC boosted its stake in FedEx Corp. by 185.6% in the first quarter. BB&T Securities LLC now owns 49,756 shares of the shipping service provider’s stock worth $8,096,000 after buying an additional 32,336 shares during the last quarter. Miles Capital Inc. acquired a new stake in FedEx Corp. during the first quarter worth $442,000. Meeder Asset Management Inc. boosted its stake in FedEx Corp. by 4.4% in the first quarter. Meeder Asset Management Inc. now owns 9,946 shares of the shipping service provider’s stock worth $1,618,000 after buying an additional 416 shares during the last quarter. Finally, Optimum Investment Advisors boosted its stake in FedEx Corp. by 4.3% in the first quarter. Optimum Investment Advisors now owns 6,055 shares of the shipping service provider’s stock worth $985,000 after buying an additional 250 shares during the last quarter. Institutional investors own 73.67% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.16% during midday trading on Wednesday, hitting $170.46. 1,086,825 shares of the company were exchanged. The firm’s 50 day moving average price is $169.20 and its 200 day moving average price is $163.84. The firm has a market capitalization of $45.30 billion, a price-to-earnings ratio of 25.50 and a beta of 1.28. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. FedEx Corp.’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.42 EPS. Analysts forecast that FedEx Corp. will post $12.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.94%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is currently 23.99%.
FDX has been the topic of a number of analyst reports. Robert W. Baird reissued an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Vetr cut shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price on the stock. in a research note on Tuesday, September 27th. Sanford C. Bernstein set a $159.00 target price on shares of FedEx Corp. and gave the company a “neutral” rating in a research note on Wednesday, September 21st. Zacks Investment Research raised shares of FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Finally, Oppenheimer Holdings Inc. boosted their price target on shares of FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, September 21st. Ten investment 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 company’s stock. The company has an average rating of “Buy” and a consensus target price of $176.59.
In other FedEx Corp. news, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the completion of the transaction, the chief executive officer now directly owns 56,265 shares in the company, valued at approximately $8,914,063.95. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the completion of the transaction, the executive vice president now owns 150,665 shares of the company’s stock, valued at $24,020,520.95. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company 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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