Prentiss Smith & Co. Inc. raised its stake in shares of FedEx Corp. (NYSE:FDX) by 59.1% during the second quarter, Holdings Channel reports. The fund owned 42,090 shares of the shipping service provider’s stock after buying an additional 15,633 shares during the period. FedEx Corp. comprises approximately 3.6% of Prentiss Smith & Co. Inc.’s portfolio, making the stock its 11th largest position. Prentiss Smith & Co. Inc.’s holdings in FedEx Corp. were worth $6,388,000 as of its most recent filing with the SEC.
A number of other institutional investors have also added to or reduced their stakes in the stock. Invictus RG acquired a new position in FedEx Corp. during the first quarter valued at approximately $161,000. Benchmark Capital Advisors acquired a new position in FedEx Corp. during the first quarter valued at approximately $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 valued at $222,000 after buying an additional 527 shares during the last quarter. Mercer Capital Advisers Inc. acquired a new position in FedEx Corp. during the second quarter valued at approximately $233,000. Finally, Atria Investments LLC acquired a new position in FedEx Corp. during the second quarter valued at approximately $241,000. Hedge funds and other institutional investors own 73.72% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.40% during mid-day trading on Tuesday, hitting $173.60. The stock had a trading volume of 1,491,842 shares. The stock has a market capitalization of $46.14 billion, a price-to-earnings ratio of 25.96 and a beta of 1.28. The stock’s 50-day moving average price is $167.23 and its 200-day moving average price is $163.02. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $177.36.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share 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 firm earned $14.70 billion during the quarter. During the same quarter last year, the firm earned $2.42 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities analysts anticipate that FedEx Corp. will post $12.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a $0.40 dividend. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
A number of research firms have recently issued reports on FDX. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a research note on Friday, September 23rd. Sanford C. Bernstein set a $159.00 price target on FedEx Corp. and gave the company a “neutral” rating in a report on Wednesday, September 21st. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of FedEx Corp. in a report on Monday, June 6th. Credit Suisse Group AG reissued a “buy” rating on shares of FedEx Corp. in a report on Thursday, June 16th. Finally, Vetr raised FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price target for the company in a report on Monday, July 25th. 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. FedEx Corp. presently has a consensus rating of “Buy” and a consensus target price of $176.59.
In related news, CEO Michael L. Ducker sold 5,000 shares of the business’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 owns 56,265 shares in the company, valued at approximately $8,914,063.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Henry J. Maier sold 5,213 shares of the business’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $176.65, for a total transaction of $920,876.45. Following the completion of the transaction, the insider now owns 27,720 shares of the company’s stock, valued at approximately $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by corporate 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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