Portland Global Advisors LLC cut its position in FedEx Corp. (NYSE:FDX) by 0.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,510 shares of the shipping service provider’s stock after selling 150 shares during the period. FedEx Corp. comprises approximately 1.2% of Portland Global Advisors LLC’s portfolio, making the stock its 15th largest position. Portland Global Advisors LLC’s holdings in FedEx Corp. were worth $2,658,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of FDX. Invictus RG bought a new position in FedEx Corp. during the first quarter worth approximately $161,000. Benchmark Capital Advisors acquired a new stake in shares of FedEx Corp. during the first quarter worth $212,000. Financial Architects Inc increased its stake in shares of 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 last quarter. Mercer Capital Advisers Inc. acquired a new stake in shares of FedEx Corp. during the second quarter worth $233,000. Finally, Atria Investments LLC acquired a new stake in shares of FedEx Corp. during the second quarter worth $241,000. 73.78% of the stock is currently owned by institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded up 1.12% on Tuesday, hitting $177.30. The stock had a trading volume of 2,133,240 shares. The stock has a market cap of $47.12 billion, a PE ratio of 26.52 and a beta of 1.35. The stock has a 50 day moving average of $166.11 and a 200-day moving average of $162.25. 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, beating the Zacks’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 20.62% and a net margin of 3.61%. The company earned $14.70 billion during the quarter. During the same period last year, the business earned $2.42 EPS. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. Equities research analysts anticipate that FedEx Corp. will post $12.15 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be given a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
A number of equities research analysts have weighed in on the company. Vetr downgraded FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 target price for the company. in a report on Tuesday. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 target price on shares of FedEx Corp. in a report on Friday. Finally, Stifel Nicolaus boosted their price objective on FedEx Corp. from $174.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Ten 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. The company currently has an average rating of “Buy” and a consensus price target of $176.59.
In other FedEx Corp. news, EVP Alan B. Graf, Jr. sold 7,400 shares of FedEx Corp. stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the completion of the sale, the executive vice president now owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total value of $822,550.00. Following the completion of the sale, the executive vice president now directly owns 53,399 shares of the company’s stock, valued at approximately $8,784,669.49. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
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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