ClariVest Asset Management LLC decreased its stake in shares of FedEx Corporation (NYSE:FDX) by 3.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 74,516 shares of the shipping service provider’s stock after selling 2,700 shares during the period. ClariVest Asset Management LLC’s holdings in FedEx Corporation were worth $14,542,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Northwestern Mutual Wealth Management Co. raised its position in shares of FedEx Corporation by 2.7% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares during the period. Quantitative Systematic Strategies LLC raised its stake in shares of FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock worth $2,542,000 after buying an additional 10,159 shares during the last quarter. Madison Investment Holdings Inc. raised its stake in shares of FedEx Corporation by 63.6% in the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock worth $35,371,000 after buying an additional 70,436 shares during the last quarter. ING Groep NV raised its stake in shares of FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock worth $3,420,000 after buying an additional 12,453 shares during the last quarter. Finally, Webster Bank N. A. raised its stake in shares of FedEx Corporation by 20.3% in the first quarter. Webster Bank N. A. now owns 2,154 shares of the shipping service provider’s stock worth $420,000 after buying an additional 364 shares during the last quarter. Institutional investors and hedge funds own 76.00% of the company’s stock.
FedEx Corporation (FDX) traded up 0.31% during midday trading on Friday, hitting $206.00. 930,437 shares of the stock traded hands. The company has a market cap of $55.26 billion, a P/E ratio of 18.61 and a beta of 1.27. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The company’s 50 day moving average is $211.96 and its 200-day moving average is $199.04.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter last year, the company earned $3.30 EPS. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. On average, equities research analysts forecast that FedEx Corporation will post $13.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.97%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.
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A number of brokerages recently issued reports on FDX. Zacks Investment Research lowered FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets boosted their price target on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday. CIBC boosted their price objective on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a research note on Thursday, June 15th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.78.
In related news, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction dated 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 owns 68,556 shares of the company’s stock, valued at approximately $14,462,573.76. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the sale, the chief executive officer now directly owns 29,148 shares in the company, valued at approximately $6,150,228. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock worth $16,447,426. Corporate 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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