Nicolet Bankshares Inc. cut its position in FedEx Corp. (NYSE:FDX) by 2.0% during the second quarter, Holdings Channel reports. The firm owned 1,452 shares of the shipping service provider’s stock after selling 30 shares during the period. Nicolet Bankshares Inc.’s holdings in FedEx Corp. were worth $220,000 at the end of the most recent quarter.
A number of other hedge funds have also added to or reduced their stakes in FDX. Sun Life Financial INC purchased a new position in shares of FedEx Corp. during the first quarter worth approximately $52,233,000. Invictus RG purchased a new position in shares of FedEx Corp. during the first quarter worth approximately $161,000. Financial Architects Inc increased its position 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 in the last quarter. Mercer Capital Advisers Inc. purchased a new position in shares of FedEx Corp. during the second quarter worth approximately $233,000. Finally, Atria Investments LLC purchased a new position in shares of FedEx Corp. during the second quarter worth approximately $241,000. 73.67% of the stock is owned by institutional investors.
FedEx Corp. (NYSE:FDX) traded down 0.08% on Monday, reaching $170.84. The company had a trading volume of 1,051,540 shares. The company’s 50-day moving average is $168.72 and its 200-day moving average is $163.66. The company has a market capitalization of $45.40 billion, a PE ratio of 25.55 and a beta of 1.28. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $177.36.
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 business 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 company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.42 EPS. Equities analysts anticipate that FedEx Corp. will post $12.14 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s payout ratio is currently 23.99%.
A number of equities analysts have commented on FDX shares. Wolfe Research upgraded shares of FedEx Corp. from a “market perform” rating to an “outperform” rating in a report on Friday, July 1st. Cowen and Company restated a “market perform” rating and set a $110.00 price objective on shares of FedEx Corp. in a report on Sunday, July 31st. Zacks Investment Research downgraded shares of FedEx Corp. from a “hold” rating to a “sell” rating in a report on Tuesday, August 23rd. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price objective on the stock. in a report on Monday, August 8th. Finally, Barclays PLC restated a “buy” rating and set a $205.00 price objective on shares of FedEx Corp. in a report on Monday, September 19th. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has given a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $176.59.
In related news, EVP Robert B. Carter sold 24,784 shares of FedEx Corp. 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 directly owns 68,183 shares in the company, valued at $12,064,981.85. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. stock in a transaction that occurred on Thursday, August 11th. The shares were 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 owns 53,399 shares in the company, valued at $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is owned by insiders.
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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