DekaBank Deutsche Girozentrale Has $9.93 Million Position in FedEx Corporation (FDX)
DekaBank Deutsche Girozentrale cut its stake in shares of FedEx Corporation (NYSE:FDX) by 48.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 45,071 shares of the shipping service provider’s stock after selling 42,489 shares during the period. DekaBank Deutsche Girozentrale’s holdings in FedEx Corporation were worth $9,927,000 as of its most recent SEC filing.
Several other institutional investors also recently made changes to their positions in the stock. Arizona State Retirement System grew its stake in shares of FedEx Corporation by 0.5% during the second quarter. Arizona State Retirement System now owns 61,039 shares of the shipping service provider’s stock worth $13,266,000 after purchasing an additional 300 shares during the period. Summit Securities Group LLC acquired a new stake in shares of FedEx Corporation during the second quarter worth $261,000. Harel Insurance Investments & Financial Services Ltd. grew its stake in shares of FedEx Corporation by 23.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,028 shares of the shipping service provider’s stock worth $441,000 after purchasing an additional 381 shares during the period. National Planning Corp grew its stake in shares of FedEx Corporation by 4.9% during the second quarter. National Planning Corp now owns 4,147 shares of the shipping service provider’s stock worth $901,000 after purchasing an additional 195 shares during the period. Finally, Stearns Financial Services Group grew its stake in shares of FedEx Corporation by 23.6% during the second quarter. Stearns Financial Services Group now owns 1,404 shares of the shipping service provider’s stock worth $305,000 after purchasing an additional 268 shares during the period. 75.84% of the stock is owned by institutional investors and hedge funds.
FedEx Corporation (FDX) opened at 220.00 on Friday. The firm’s 50-day moving average price is $210.17 and its 200-day moving average price is $202.36. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $220.95. The firm has a market cap of $59.02 billion, a P/E ratio of 19.87 and a beta of 1.28. FedEx Corporation also was the target of unusually large options trading activity on Wednesday. Investors acquired 15,812 put options on the company. This represents an increase of approximately 524% compared to the typical daily volume of 2,532 put options.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. FedEx Corporation’s revenue for the quarter was up 4.1% compared to the same quarter last year. During the same quarter last year, the company posted $2.90 EPS. On average, equities research analysts expect that FedEx Corporation will post $12.78 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
A number of equities research analysts recently commented on the company. UBS AG reaffirmed a “buy” rating and set a $235.00 price objective (up from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Thursday, August 10th. Bank of America Corporation reaffirmed a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday. Sanford C. Bernstein set a $212.00 target price on FedEx Corporation and gave the stock a “neutral” rating in a report on Wednesday. Finally, Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $229.00 target price on shares of FedEx Corporation in a report on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $225.26.
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 sale, the director now owns 2,100 shares in the company, valued at $453,873. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 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 sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by corporate insiders.
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FedEx Corporation 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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