People s United Financial Inc. Buys 804 Shares of FedEx Corporation (FDX)
People s United Financial Inc. increased its stake in shares of FedEx Corporation (NYSE:FDX) by 7.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,130 shares of the shipping service provider’s stock after buying an additional 804 shares during the quarter. People s United Financial Inc.’s holdings in FedEx Corporation were worth $2,419,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the stock. Cribstone Capital Management LLC grew its holdings 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 buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America grew its holdings in FedEx Corporation by 1.0% during the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after buying an additional 9 shares in the last quarter. Park National Corp OH grew its holdings in FedEx Corporation by 0.9% during the second quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after buying an additional 10 shares in the last quarter. Alexandria Capital LLC grew its holdings 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 buying an additional 13 shares in the last quarter. Finally, IHT Wealth Management LLC grew its holdings in FedEx Corporation by 0.7% during the first quarter. IHT Wealth Management LLC now owns 2,244 shares of the shipping service provider’s stock worth $440,000 after buying an additional 15 shares in the last quarter. Institutional investors and hedge funds own 76.16% of the company’s stock.
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 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 the consensus estimate of $15.35 billion. During the same period in the prior year, the firm posted $2.90 EPS. The business’s revenue for the quarter was up 4.1% on a year-over-year basis.
Several brokerages recently issued reports on FDX. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $236.00 price target on shares of FedEx Corporation in a report on Friday, October 20th. Zacks Investment Research downgraded FedEx Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen and Company reiterated an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Friday, October 13th. J P Morgan Chase & Co upped their price target on FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Finally, KeyCorp began coverage on FedEx Corporation in a report on Tuesday, October 10th. They set an “overweight” rating and a $260.00 price target for the company. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $228.56.
In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares of the company’s stock, valued at $6,709,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock valued at $9,024,637 in the last three months. 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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