FedEx Corporation (FDX) Stake Raised by Murphy Capital Management Inc.
Murphy Capital Management Inc. boosted its stake in FedEx Corporation (NYSE:FDX) by 11.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 19,029 shares of the shipping service provider’s stock after buying an additional 1,991 shares during the period. Murphy Capital Management Inc.’s holdings in FedEx Corporation were worth $4,135,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. FNY Managed Accounts LLC bought a new stake in shares of FedEx Corporation during the first quarter worth about $100,000. Alexandria Capital LLC raised its stake in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares in the last quarter. Riggs Asset Managment Co. Inc. raised its stake 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 worth $105,000 after buying an additional 300 shares in the last quarter. Cribstone Capital Management LLC raised its stake 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 worth $107,000 after buying an additional 6 shares in the last quarter. Finally, Pinnacle Bank bought a new stake in shares of FedEx Corporation during the first quarter worth about $122,000. 76.36% of the stock is owned by institutional investors.
Shares of FedEx Corporation (FDX) traded up 1.5664% during midday trading on Friday, reaching $206.7384. The company had a trading volume of 482,672 shares. The stock has a market capitalization of $55.46 billion, a PE ratio of 18.6756 and a beta of 1.27. The company’s 50 day moving average price is $213.01 and its 200 day moving average price is $198.48. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s revenue was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.30 earnings per share. Equities research analysts expect that FedEx Corporation will post $13.58 earnings per share for the current year.
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FDX has been the subject of a number of recent analyst reports. Stifel Nicolaus boosted their target price on shares of FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a research note on Monday, June 12th. Vetr lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 target price for the company. in a research note on Monday, June 26th. BidaskClub lowered shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Oppenheimer Holdings, Inc. boosted their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Finally, Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Thursday, June 1st. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. FedEx Corporation currently has a consensus rating of “Buy” and a consensus price target of $221.78.
In other FedEx Corporation news, insider Henry J. Maier sold 12,580 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total value of $2,635,510.00. Following the transaction, the insider now directly owns 38,177 shares in the company, valued at approximately $7,998,081.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value 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. In the last ninety days, insiders have sold 77,757 shares of company stock worth $16,447,426. 8.67% of the stock is currently owned by corporate insiders.
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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