1,194 Shares in FedEx Corporation (FDX) Acquired by Bingham Osborn & Scarborough LLC
Bingham Osborn & Scarborough LLC bought a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,194 shares of the shipping service provider’s stock, valued at approximately $259,000.
Other hedge funds have also added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new position in shares of FedEx Corporation in the first quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. grew its holdings in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after acquiring an additional 300 shares in the last quarter. Cribstone Capital Management LLC grew its holdings in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares in the last quarter. Alexandria Capital LLC grew its holdings in shares of FedEx Corporation by 2.5% in the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Brick & Kyle Associates grew its holdings in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after acquiring an additional 10 shares in the last quarter. 75.84% of the stock is owned by institutional investors.
In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the company’s stock in a transaction dated Thursday, June 29th. The shares were sold at an average price of $216.13, for a total value of $131,623.17. Following the transaction, the director now directly owns 2,100 shares in the company, valued at approximately $453,873. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. 8.45% of the stock is owned by corporate insiders.
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Shares of FedEx Corporation (FDX) opened at 220.00 on Monday. The company has a 50 day moving average price of $210.17 and a 200-day moving average price of $202.36. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $222.71. The stock has a market cap of $58.99 billion, a P/E ratio of 20.74 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.90 earnings per share. On average, equities research analysts predict that FedEx Corporation will post $12.78 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. FedEx Corporation’s dividend payout ratio is currently 18.87%.
FDX has been the subject of several recent analyst reports. Vetr lowered FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a report on Thursday, August 31st. Stifel Nicolaus upped their price objective on FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research note on Monday, June 12th. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company. The company has an average rating of “Buy” and a consensus price target of $225.26.
FedEx Corporation 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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