Meiji Yasuda Asset Management Co Ltd. Has $1.14 Million Position in FedEx Corporation (FDX)
Meiji Yasuda Asset Management Co Ltd. lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 35.2% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,252 shares of the shipping service provider’s stock after selling 2,850 shares during the quarter. Meiji Yasuda Asset Management Co Ltd.’s holdings in FedEx Corporation were worth $1,141,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the stock. FNY Managed Accounts LLC bought a new stake in FedEx Corporation in the first quarter valued at $100,000. Riggs Asset Managment Co. Inc. raised its stake in FedEx Corporation by 163.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock worth $105,000 after acquiring an additional 300 shares in the last quarter. Cribstone Capital Management LLC raised its stake in FedEx Corporation by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after acquiring an additional 6 shares in the last quarter. Alexandria Capital LLC raised its stake in FedEx Corporation by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners raised its stake in FedEx Corporation by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after acquiring an additional 130 shares in the last quarter. Institutional investors and hedge funds own 75.89% of the company’s stock.
In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction that occurred 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 in the company, valued at $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. Insiders own 8.45% of the company’s stock.
Several equities research analysts have recently weighed in on FDX shares. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets lifted their price target on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Citigroup Inc. restated a “buy” rating and issued a $235.00 price target on shares of FedEx Corporation in a research report on Thursday, September 14th. Finally, CIBC boosted their price target on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, June 15th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. FedEx Corporation presently has an average rating of “Buy” and an average target price of $225.26.
Shares of FedEx Corporation (NYSE:FDX) opened at 223.00 on Wednesday. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $227.00. The company has a 50 day moving average of $214.31 and a 200-day moving average of $204.45. The firm has a market capitalization of $59.80 billion, a P/E ratio of 21.02 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.90 earnings per share. Analysts predict that FedEx Corporation will post $12.47 EPS for the current year.
The business 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 0.90%. FedEx Corporation’s payout ratio is 18.87%.
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About FedEx Corporation
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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