FedEx Corporation (FDX) Shares Sold by Utah Retirement Systems
Utah Retirement Systems lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 0.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,424 shares of the shipping service provider’s stock after selling 300 shares during the quarter. Utah Retirement Systems’ holdings in FedEx Corporation were worth $9,872,000 as of its most recent SEC filing.
A number of other hedge funds also recently made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp boosted its stake in shares of FedEx Corporation by 2.1% in the second quarter. Mitsubishi UFJ Trust & Banking Corp now owns 548,162 shares of the shipping service provider’s stock valued at $119,132,000 after purchasing an additional 11,094 shares during the period. BDO Wealth Advisors LLC purchased a new position in shares of FedEx Corporation in the second quarter valued at approximately $633,000. Airain ltd purchased a new position in shares of FedEx Corporation in the second quarter valued at approximately $11,106,000. Andra AP fonden boosted its stake in shares of FedEx Corporation by 5.8% in the second quarter. Andra AP fonden now owns 23,600 shares of the shipping service provider’s stock valued at $5,129,000 after purchasing an additional 1,300 shares during the period. Finally, Proffitt & Goodson Inc. boosted its stake in shares of FedEx Corporation by 199.9% in the second quarter. Proffitt & Goodson Inc. now owns 4,138 shares of the shipping service provider’s stock valued at $899,000 after purchasing an additional 2,758 shares during the period. 75.89% of the stock is owned by institutional investors.
FedEx Corporation (NYSE:FDX) opened at 220.80 on Friday. The stock has a market capitalization of $59.21 billion, a price-to-earnings ratio of 20.82 and a beta of 1.31. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $227.00. The stock’s 50 day moving average is $215.44 and its 200-day moving average is $204.90. FedEx Corporation also saw unusually large options trading on Wednesday. Stock traders purchased 12,915 put options on the stock. This is an increase of approximately 309% compared to the average daily volume of 3,161 put options.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the previous year, the company posted $2.90 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $12.47 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $0.50 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is 18.87%.
FDX has been the subject of several recent research reports. Bank of America Corporation reissued a “buy” rating and issued a $240.00 price objective (up previously from $230.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Wells Fargo & Company raised their price objective on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Cowen and Company reissued an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 price objective (down previously from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Finally, Loop Capital reissued a “buy” rating and issued a $234.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. FedEx Corporation currently has a consensus rating of “Buy” and a consensus target price of $225.71.
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In other news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last three months, insiders sold 27,172 shares of company stock valued at $6,039,193. Company insiders own 8.45% of the company’s stock.
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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