Steinberg Global Asset Management Has $3.01 Million Position in FedEx Corporation (FDX)
Steinberg Global Asset Management trimmed its holdings in shares of FedEx Corporation (NYSE:FDX) by 1.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,354 shares of the shipping service provider’s stock after selling 240 shares during the quarter. Steinberg Global Asset Management’s holdings in FedEx Corporation were worth $3,012,000 at the end of the most recent reporting period.
Several other large investors have also added to or reduced their stakes in FDX. Covington Investment Advisors Inc. lifted its position in shares of FedEx Corporation by 0.7% during the first quarter. Covington Investment Advisors Inc. now owns 20,557 shares of the shipping service provider’s stock worth $4,012,000 after purchasing an additional 135 shares during the last quarter. Chicago Partners Investment Group LLC increased its stake in shares of FedEx Corporation by 30.0% during the first quarter. Chicago Partners Investment Group LLC now owns 1,299 shares of the shipping service provider’s stock valued at $253,000 after buying an additional 300 shares during the period. ZWJ Investment Counsel Inc. increased its stake in shares of FedEx Corporation by 57.9% during the first quarter. ZWJ Investment Counsel Inc. now owns 7,420 shares of the shipping service provider’s stock valued at $1,448,000 after buying an additional 2,720 shares during the period. Credit Agricole S A increased its stake in shares of FedEx Corporation by 11.9% during the first quarter. Credit Agricole S A now owns 454,207 shares of the shipping service provider’s stock valued at $88,638,000 after buying an additional 48,380 shares during the period. Finally, CFO4Life Group LLC purchased a new position in shares of FedEx Corporation during the first quarter valued at $509,000. Institutional investors and hedge funds own 76.07% of the company’s stock.
In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Michael L. Ducker sold 14,964 shares of the company’s stock in a transaction on 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 completion of the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,094 shares of company stock valued at $9,024,637. 8.45% of the stock is owned by company insiders.
Shares of FedEx Corporation (NYSE:FDX) opened at $217.32 on Wednesday. The company has a debt-to-equity ratio of 0.91, a quick ratio of 1.57 and a current ratio of 1.63. FedEx Corporation has a 12-month low of $182.89 and a 12-month high of $231.35. The company has a market capitalization of $58,255.09, a P/E ratio of 18.24, a P/E/G ratio of 1.37 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last issued its quarterly 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). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the firm posted $2.90 earnings per share. The firm’s revenue for the quarter was up 4.1% compared to the same quarter last year. analysts predict that FedEx Corporation will post 12.47 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, December 8th. FedEx Corporation’s payout ratio is currently 18.87%.
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Several equities analysts have recently commented on FDX shares. Vetr lowered FedEx Corporation to a “sell” rating and set a $204.84 price target on the stock. in a research note on Thursday, August 31st. BMO Capital Markets reiterated a “buy” rating and issued a $245.00 target price on shares of FedEx Corporation in a research note on Wednesday, September 6th. Zacks Investment Research lowered FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $247.00 target price (up previously from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $230.21.
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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