MUFG Americas Holdings Corp Has $5.46 Million Stake in FedEx Corporation (FDX)
MUFG Americas Holdings Corp trimmed its stake in FedEx Corporation (NYSE:FDX) by 4.1% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 25,102 shares of the shipping service provider’s stock after selling 1,066 shares during the quarter. MUFG Americas Holdings Corp’s holdings in FedEx Corporation were worth $5,455,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock valued at $3,512,158,000 after acquiring an additional 918,896 shares during the last quarter. BlackRock Inc. increased its position in FedEx Corporation by 1,912.1% during the 1st quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares in the last quarter. Geode Capital Management LLC increased its position in FedEx Corporation by 8.4% during the 1st quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after purchasing an additional 173,544 shares in the last quarter. Harbour Capital Advisors LLC increased its position in FedEx Corporation by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after purchasing an additional 1,418,066 shares in the last quarter. Finally, TIAA CREF Investment Management LLC increased its position in FedEx Corporation by 28.8% during the 1st quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock worth $272,525,000 after purchasing an additional 312,272 shares in the last quarter. 75.89% of the stock is owned by institutional investors.
In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares in the company, valued at $12,059,712.45. The sale was disclosed in a filing with the SEC, 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 transaction of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,172 shares of company stock valued at $6,039,193. Corporate insiders own 8.45% of the company’s stock.
FedEx Corporation (NYSE:FDX) opened at 225.58 on Monday. The stock’s 50 day moving average is $210.17 and its 200-day moving average is $202.36. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $226.34. The firm has a market capitalization of $60.49 billion, a PE ratio of 21.27 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same period in the prior year, the company posted $2.90 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Equities analysts expect that FedEx Corporation will post $12.48 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.89%. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.87%.
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Several equities research analysts have issued reports on the stock. Zacks Investment Research cut shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. BMO Capital Markets boosted their price objective on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday, August 16th. Citigroup Inc. reissued a “buy” rating and set a $235.00 price objective on shares of FedEx Corporation in a research note on Thursday, September 14th. Finally, CIBC upped their price objective 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price 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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