Westpac Banking Corp increased its position in shares of FedEx Corp. (NYSE:FDX) by 28.6% during the second quarter, Holdings Channel reports. The fund owned 15,021 shares of the shipping service provider’s stock after buying an additional 3,345 shares during the period. Westpac Banking Corp’s holdings in FedEx Corp. were worth $2,280,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of the stock. First Personal Financial Services increased its stake in FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services increased its stake in FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the last quarter. Invictus RG bought a new stake in FedEx Corp. during the first quarter worth $161,000. Beese Fulmer Investment Management Inc. increased its stake in FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the last quarter. Finally, Benchmark Capital Advisors bought a new stake in FedEx Corp. during the first quarter worth $212,000. Institutional investors and hedge funds own 73.78% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.26% during midday trading on Wednesday, hitting $176.84. 275,356 shares of the stock traded hands. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36. The company’s 50-day moving average is $166.11 and its 200 day moving average is $162.25. The firm has a market capitalization of $47.00 billion, a PE ratio of 26.45 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last posted its earnings results 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 had revenue of $14.70 billion for the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period last year, the business posted $2.42 EPS. Analysts anticipate 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 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 is Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
FDX has been the topic of a number of research analyst reports. Cowen and Company reaffirmed a “buy” rating and set a $180.00 price target on shares of FedEx Corp. in a research report on Saturday, June 18th. Stifel Nicolaus reaffirmed a “buy” rating and set a $179.00 price target (up previously from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Morgan Stanley reaffirmed a “hold” rating on shares of FedEx Corp. in a research report on Monday, June 6th. Oppenheimer Holdings Inc. upped their price target on shares of FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, September 21st. Finally, Vetr raised shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price target on the stock in a research report on Tuesday, August 2nd. Ten analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company. The company presently 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 firm’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $164.51, for a total transaction of $822,550.00. Following the transaction, the executive vice president now owns 53,399 shares of the company’s stock, valued at approximately $8,784,669.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Edwardson sold 2,882 shares of the firm’s stock in a transaction dated Friday, August 5th. The shares were sold at an average price of $162.63, for a total transaction of $468,699.66. Following the transaction, the director now directly owns 29,090 shares in the company, valued at approximately $4,730,906.70. The disclosure for this sale can be found here. Company 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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