Sentry Investments Corp. boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 37.4% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 51,249 shares of the shipping service provider’s stock after buying an additional 13,949 shares during the period. Sentry Investments Corp.’s holdings in FedEx Corporation were worth $10,001,000 as of its most recent SEC filing.
Several other large investors have also recently made changes to their positions in FDX. Alexandria Capital LLC increased its stake in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Pinnacle Bank purchased a new stake in shares of FedEx Corporation during the first quarter valued at $122,000. Adirondack Trust Co. increased its position in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares in the last quarter. Brick & Kyle Associates increased its position in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Finally, Cohen Capital Management Inc. bought a new position in FedEx Corporation during the first quarter valued at approximately $185,000. 76.49% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corporation (FDX) opened at 208.04 on Monday. FedEx Corporation has a 12-month low of $158.20 and a 12-month high of $219.99. The stock’s 50 day moving average is $213.55 and its 200 day moving average is $197.24. The stock has a market capitalization of $55.81 billion, a price-to-earnings ratio of 18.79 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter last year, the business posted $3.30 earnings per share. The business’s revenue for the quarter was up 21.0% on a year-over-year basis. Equities research analysts forecast that FedEx Corporation will post $13.60 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd were given a $0.50 dividend. The ex-dividend date was Tuesday, June 20th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. This is a boost from FedEx Corporation’s previous quarterly dividend of $0.40. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.
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Several research analysts recently commented on the stock. Vetr raised shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price target on the stock in a research note on Tuesday, July 18th. Cowen and Company reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $234.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $220.00 price target on shares of FedEx Corporation in a research note on Monday, July 3rd. Finally, BMO Capital Markets raised their price target on shares of FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, June 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $221.78.
In related news, CEO Frederick W. Smith sold 135,000 shares of the 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 sale, the chief executive officer now owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now directly owns 68,556 shares in the company, valued at approximately $14,462,573.76. The disclosure for this sale can be found here. In the last 90 days, insiders sold 210,549 shares of company stock valued at $41,505,553. Company insiders own 8.67% of the company’s stock.
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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