First Dallas Securities Inc. decreased its stake in shares of FedEx Corp. (NYSE:FDX) by 7.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 5,305 shares of the shipping service provider’s stock after selling 400 shares during the period. First Dallas Securities Inc.’s holdings in FedEx Corp. were worth $805,000 as of its most recent filing with the SEC.
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 valued at approximately $52,233,000. 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 boosted 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 period. Finally, Stratos Wealth Partners LTD. acquired a new position in FedEx Corp. during the first quarter valued at approximately $242,000. Institutional investors own 73.78% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded down 1.04% during trading on Wednesday, hitting $175.45. The company had a trading volume of 2,280,851 shares. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $177.36. The firm has a 50-day moving average of $166.43 and a 200 day moving average of $162.34. The company has a market capitalization of $46.63 billion, a price-to-earnings ratio of 26.24 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 EPS for the quarter, beating analysts’ consensus estimates 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 company’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $2.42 EPS. On average, equities research analysts forecast that FedEx Corp. will post $12.14 earnings per share 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 issued a $0.40 dividend. The ex-dividend date is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.91%. FedEx Corp.’s dividend payout ratio is presently 23.99%.
Several research firms have recently commented on FDX. Cowen and Company reiterated a “buy” rating and set a $180.00 target price on shares of FedEx Corp. in a research note on Saturday, June 18th. Deutsche Bank AG raised their price objective on FedEx Corp. from $190.00 to $198.00 and gave the stock a “buy” rating in a research note on Thursday, June 23rd. Zacks Investment Research upgraded FedEx Corp. from a “hold” rating to a “buy” rating and set a $184.00 price objective on the stock in a research note on Thursday, June 2nd. Robert W. Baird restated a “buy” rating and set a $176.00 price objective on shares of FedEx Corp. in a research note on Thursday, June 23rd. Finally, Stifel Nicolaus raised their price objective on FedEx Corp. from $179.00 to $186.00 and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Ten research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $176.59.
In other FedEx Corp. news, EVP Robert B. Carter sold 5,000 shares of the stock in a transaction dated 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 in the company, valued at $8,784,669.49. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the stock in a transaction dated 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 $24,020,520.95. The disclosure for this sale can be found here. 8.67% of the stock is 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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