Stephens Inc. AR Raises Position in FedEx Corporation (FDX)
Stephens Inc. AR boosted its stake in FedEx Corporation (NYSE:FDX) by 3.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,924 shares of the shipping service provider’s stock after buying an additional 747 shares during the quarter. Stephens Inc. AR’s holdings in FedEx Corporation were worth $4,982,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of FDX. FNY Managed Accounts LLC purchased a new position in FedEx Corporation in the 1st quarter valued at about $100,000. Riggs Asset Managment Co. Inc. lifted its stake in FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares in the last quarter. Cribstone Capital Management LLC lifted its stake in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares in the last quarter. Alexandria Capital LLC lifted its stake in FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after buying an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners lifted its stake in FedEx Corporation by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after buying an additional 130 shares in the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE FDX) opened at 225.07 on Friday. FedEx Corporation has a 12-month low of $170.16 and a 12-month high of $227.00. The company has a 50-day moving average of $219.23 and a 200 day moving average of $207.09. The firm has a market cap of $60.35 billion, a P/E ratio of 21.22 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last issued its earnings results 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 business had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the prior year, the business posted $2.90 EPS. The business’s revenue was up 4.1% on a year-over-year basis. Equities research analysts anticipate that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.89%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio is presently 18.87%.
A number of brokerages recently weighed in on FDX. Cowen and Company reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Thursday, August 10th. Zacks Investment Research lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. J P Morgan Chase & Co raised their price target on shares of FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $236.00 price target on shares of FedEx Corporation in a research note on Friday. Finally, Stifel Nicolaus reaffirmed a “hold” rating and issued a $221.00 price target (up from $216.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $228.56.
In other news, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. In the last three months, insiders sold 27,172 shares of company stock worth $6,039,193. Insiders own 8.45% of the company’s stock.
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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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