Accredited Investors Inc. lowered its stake in FedEx Corporation (NYSE:FDX) by 8.6% during the first quarter, Holdings Channel reports. The fund owned 1,108 shares of the shipping service provider’s stock after selling 104 shares during the period. Accredited Investors Inc.’s holdings in FedEx Corporation were worth $216,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Shepherd Financial Partners LLC purchased a new stake in shares of FedEx Corporation during the fourth quarter valued at $3,282,000. Arrowstreet Capital Limited Partnership purchased a new stake in shares of FedEx Corporation during the fourth quarter valued at $3,671,000. Pinnacle Financial Partners Inc. purchased a new stake in shares of FedEx Corporation during the fourth quarter valued at $207,000. Lebenthal Asset Management LLC raised its stake in shares of FedEx Corporation by 1.1% in the fourth quarter. Lebenthal Asset Management LLC now owns 5,495 shares of the shipping service provider’s stock valued at $1,023,000 after buying an additional 60 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main purchased a new stake in shares of FedEx Corporation during the fourth quarter valued at $3,306,000. 76.43% of the stock is currently owned by institutional investors.
Shares of FedEx Corporation (FDX) opened at 211.04 on Wednesday. The firm has a market capitalization of $57.19 billion, a PE ratio of 19.06 and a beta of 1.28. FedEx Corporation has a 52 week low of $158.03 and a 52 week high of $219.99. The company’s 50 day moving average price is $211.07 and its 200-day moving average price is $196.09. FedEx Corporation also was the target of unusually large options trading on Monday. Investors purchased 9,583 put options on the stock. This is an increase of 115% compared to the typical volume of 4,467 put options.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same period last year, the company earned $3.30 EPS. On average, equities research analysts expect that FedEx Corporation will post $13.60 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 22nd were given a dividend of $0.50 per share. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 0.95%. The ex-dividend date was Tuesday, June 20th. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.
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Several equities analysts recently commented on the company. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $214.00 target price (up previously from $210.00) on shares of FedEx Corporation in a research report on Tuesday, March 21st. Credit Suisse Group raised their target price on FedEx Corporation from $209.00 to $219.00 and gave the stock an “outperform” rating in a research report on Wednesday, March 22nd. Cowen and Company restated an “outperform” rating and set a $240.00 target price on shares of FedEx Corporation in a research report on Wednesday, March 22nd. Deutsche Bank AG raised their target price on FedEx Corporation to $210.00 and gave the stock a “positive” rating in a research report on Wednesday, March 22nd. Finally, J P Morgan Chase & Co raised their target price on FedEx Corporation to $236.00 in a research report on Wednesday, March 22nd. Six analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. FedEx Corporation has a consensus rating of “Buy” and an average target price of $221.78.
In related news, CEO Frederick W. Smith sold 135,000 shares of the firm’s stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total transaction of $25,517,700.00. Following the completion of the transaction, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at approximately $2,896,945,659.66. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John L. Merino sold 7,200 shares of the firm’s stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 210,549 shares of company stock valued at $41,505,553. 8.67% of the stock is owned by corporate insiders.
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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