FedEx Corp. (FDX) Shares Sold by Sii Investments Inc. WI
Sii Investments Inc. WI reduced its position in shares of FedEx Corp. (NYSE:FDX) by 79.0% during the second quarter, Holdings Channel reports. The fund owned 1,448 shares of the shipping service provider’s stock after selling 5,440 shares during the period. Sii Investments Inc. WI’s holdings in FedEx Corp. were worth $220,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Sun Life Financial INC purchased a new position in shares of FedEx Corp. during the first quarter worth $52,233,000. First Personal Financial Services boosted its position in shares of 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 in the last quarter. Glassman Wealth Services boosted its position in shares of 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 in the last quarter. Invictus RG bought a new position in shares of FedEx Corp. during the first quarter worth approximately $161,000. Finally, Benchmark Capital Advisors bought a new position in shares of FedEx Corp. during the first quarter worth approximately $212,000. Hedge funds and other institutional investors own 73.82% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded up 1.65% during midday trading on Tuesday, reaching $163.92. The company’s stock had a trading volume of 476,298 shares. The firm has a 50-day moving average price of $164.13 and a 200 day moving average price of $160.96. The stock has a market capitalization of $43.52 billion, a price-to-earnings ratio of 25.18 and a beta of 1.35. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $169.57.
FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, June 21st. The shipping service provider reported $3.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.28 by $0.02. FedEx Corp. had a net margin of 3.61% and a return on equity of 20.62%. The business earned $12.98 billion during the quarter. During the same quarter in the previous year, the business posted $2.66 EPS. The firm’s quarterly revenue was up 7.1% on a year-over-year basis. Equities research analysts predict that FedEx Corp. will post $11.99 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Investors of record on Monday, September 12th will be paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend is Thursday, September 8th. FedEx Corp.’s payout ratio is presently 24.84%.
A number of research analysts have commented on the company. Barclays PLC restated a “buy” rating and set a $205.00 price objective on shares of FedEx Corp. in a research note on Monday. Zacks Investment Research upgraded FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Tuesday, September 13th. Vetr cut FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price objective on the stock. in a research note on Monday, August 8th. Cowen and Company restated a “market perform” rating and set a $110.00 price objective on shares of FedEx Corp. in a research note on Sunday, July 31st. Finally, Wolfe Research upgraded FedEx Corp. from a “market perform” rating to an “outperform” rating in a research note on Friday, July 1st. Nine analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $174.70.
In related news, Director John A. Edwardson sold 2,882 shares of the stock in a transaction dated Friday, August 5th. The shares were 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 in the company, valued at $4,730,906.70. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Robert B. Carter sold 5,000 shares of the 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 completion of the sale, the executive vice president now 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 currently owned by corporate insiders.
About FedEx Corp.
FedEx Corporation (FedEx) provides a portfolio of transportation, e-commerce and business services under the FedEx brand. The Company offers its services through companies constituting four business segments: FedEx Express, FedEx Ground, FedEx Freight and FedEx Services. FedEx Express offers a range of domestic and international shipping services for delivery of packages and freight.
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