Private Advisor Group LLC Acquires 3,453 Shares of FedEx Corporation (FDX)
Private Advisor Group LLC increased its position in shares of FedEx Corporation (NYSE:FDX) by 26.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,387 shares of the shipping service provider’s stock after purchasing an additional 3,453 shares during the quarter. Private Advisor Group LLC’s holdings in FedEx Corporation were worth $3,586,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Handelsbanken Fonder AB purchased a new position in FedEx Corporation during the second quarter worth about $435,000. Janney Montgomery Scott LLC boosted its holdings in FedEx Corporation by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after purchasing an additional 707 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its holdings in FedEx Corporation by 2.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock worth $13,641,000 after purchasing an additional 1,852 shares during the last quarter. Harbour Capital Advisors LLC boosted its holdings in FedEx Corporation by 21,011.5% during the second 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 during the last quarter. Finally, Sprott Inc. boosted its holdings in FedEx Corporation by 11.7% during the second quarter. Sprott Inc. now owns 7,650 shares of the shipping service provider’s stock worth $1,663,000 after purchasing an additional 800 shares during the last quarter. Institutional investors and hedge funds own 75.88% of the company’s stock.
In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction that occurred on Friday, September 29th. The shares were 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 of the company’s stock, valued at $12,059,712.45. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through 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 sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders have sold 27,172 shares of company stock worth $6,039,193 in the last ninety days. Insiders own 8.45% of the company’s stock.
Several research firms recently weighed in on FDX. Stephens set a $246.00 price target on shares of FedEx Corporation and gave the stock an “overweight” rating in a report on Wednesday, June 21st. UBS AG restated a “buy” rating and set a $235.00 price target (up from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Wells Fargo & Company boosted their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday, September 21st. Finally, Zacks Investment Research cut shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Monday. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $228.26.
Shares of FedEx Corporation (NYSE FDX) opened at 221.35 on Tuesday. The company’s 50-day moving average is $217.90 and its 200-day moving average is $206.26. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00. The company has a market cap of $59.35 billion, a price-to-earnings ratio of 20.87 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the 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 firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the prior year, the firm earned $2.90 EPS. FedEx Corporation’s revenue for the quarter was up 4.1% compared to the same quarter last year. Equities research analysts predict that FedEx Corporation will post $12.47 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.90%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.87%.
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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