Horrell Capital Management Inc. maintained its stake in shares of FedEx Corp. (NYSE:FDX) during the second quarter, according to its most recent disclosure with the SEC. The fund owned 27,118 shares of the shipping service provider’s stock at the end of the second quarter. FedEx Corp. accounts for about 2.7% of Horrell Capital Management Inc.’s investment portfolio, making the stock its 10th largest position. Horrell Capital Management Inc.’s holdings in FedEx Corp. were worth $4,413,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Ferguson Wellman Capital Management Inc. raised its stake in shares of FedEx Corp. by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock worth $17,594,000 after buying an additional 1,230 shares during the last quarter. Legal & General Group Plc raised its position in FedEx Corp. by 2.0% in the first quarter. Legal & General Group Plc now owns 1,159,796 shares of the shipping service provider’s stock worth $188,709,000 after buying an additional 22,819 shares in the last quarter. Southpoint Capital Advisors LP bought a new position in FedEx Corp. during the first quarter worth approximately $90,607,000. Atalanta Sosnoff Capital LLC raised its position in FedEx Corp. by 24.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 210,065 shares of the shipping service provider’s stock worth $31,884,000 after buying an additional 41,468 shares in the last quarter. Finally, Prudential PLC raised its position in FedEx Corp. by 7.5% in the first quarter. Prudential PLC now owns 45,245 shares of the shipping service provider’s stock worth $7,362,000 after buying an additional 3,163 shares in the last quarter. 73.78% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded down 1.04% on Wednesday, reaching $175.45. The company’s stock had a trading volume of 2,280,851 shares. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36. The company has a market cap of $46.63 billion, a price-to-earnings ratio of 26.24 and a beta of 1.35. The stock has a 50-day moving average of $166.43 and a 200 day moving average of $162.34.
FedEx Corp. (NYSE:FDX) last posted its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.42 EPS. On average, equities research analysts forecast that FedEx Corp. will post $12.15 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders of record on Monday, September 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.91%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is 23.99%.
A number of equities analysts recently commented on the company. Cowen and Company reaffirmed a “buy” rating and issued a $180.00 price objective on shares of FedEx Corp. in a research note on Saturday, June 18th. Vetr raised FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective on the stock in a research note on Tuesday, August 2nd. Robert W. Baird reaffirmed a “buy” rating and issued a $176.00 price objective on shares of FedEx Corp. in a research note on Thursday, June 23rd. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Bank of America Corp. reaffirmed a “buy” rating on shares of FedEx Corp. in a research note on Thursday, June 16th. Ten investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average price target of $176.59.
In other FedEx Corp. news, Director John A. Edwardson sold 2,882 shares of FedEx Corp. stock in a transaction on Friday, August 5th. The stock was 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 approximately $4,730,906.70. 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. 8.67% of the stock is owned by company 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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