LS Investment Advisors LLC raised its stake in shares of FedEx Corp. (NYSE:FDX) by 1.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 9,347 shares of the shipping service provider’s stock after buying an additional 154 shares during the period. LS Investment Advisors LLC’s holdings in FedEx Corp. were worth $1,419,000 as of its most recent filing with the SEC.
A number of other hedge funds have also bought and sold shares of the stock. Halsey Associates Inc. CT boosted its stake in FedEx Corp. by 0.7% in the first quarter. Halsey Associates Inc. CT now owns 5,194 shares of the shipping service provider’s stock valued at $845,000 after buying an additional 34 shares during the period. Trust Co boosted its stake in FedEx Corp. by 0.7% in the first quarter. Trust Co now owns 7,485 shares of the shipping service provider’s stock valued at $1,218,000 after buying an additional 50 shares during the period. NEXT Financial Group Inc boosted its stake in FedEx Corp. by 1.3% in the second quarter. NEXT Financial Group Inc now owns 4,644 shares of the shipping service provider’s stock valued at $704,000 after buying an additional 59 shares during the period. Bremer Trust National Association boosted its stake in FedEx Corp. by 4.0% in the second quarter. Bremer Trust National Association now owns 1,951 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 75 shares during the period. Finally, Farmers Trust Co. boosted its stake in FedEx Corp. by 0.6% in the second quarter. Farmers Trust Co. now owns 14,032 shares of the shipping service provider’s stock valued at $2,129,000 after buying an additional 86 shares during the period. Institutional investors own 73.73% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded up 0.69% on Monday, hitting $174.21. The stock had a trading volume of 1,221,599 shares. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $177.36. The firm has a market cap of $46.30 billion, a P/E ratio of 26.06 and a beta of 1.28. The firm’s 50-day moving average price is $168.17 and its 200-day moving average price is $163.40.
FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.09. The firm had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the business earned $2.42 EPS. On average, equities research analysts predict that FedEx Corp. will post $12.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis 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 currently 23.99%.
A number of analysts have recently issued reports on the company. Vetr cut 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, September 27th. Robert W. Baird reiterated an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a report on Friday, September 23rd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Barclays PLC reiterated a “top pick” rating on shares of FedEx Corp. in a report on Wednesday, September 21st. 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 stock. FedEx Corp. has an average rating of “Buy” and a consensus target price of $176.59.
In other FedEx Corp. news, EVP Robert B. Carter sold 24,784 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $176.95, for a total value of $4,385,528.80. Following the sale, the executive vice president now owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO David J. Bronczek sold 32,669 shares of the firm’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total value of $5,759,544.70. Following the completion of the sale, the chief executive officer now directly owns 85,356 shares in the company, valued at approximately $15,048,262.80. 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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corp. (NYSE:FDX).
Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.