Pacific Heights Asset Management LLC held its position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 107,000 shares of the shipping service provider’s stock at the end of the second quarter. FedEx Corporation comprises approximately 2.2% of Pacific Heights Asset Management LLC’s portfolio, making the stock its 9th largest position. Pacific Heights Asset Management LLC’s holdings in FedEx Corporation were worth $23,254,000 at the end of the most recent reporting period.
Several other institutional investors also recently made changes to their positions in FDX. Cypress Asset Management Inc. TX boosted its position in shares of FedEx Corporation by 6.7% in the second quarter. Cypress Asset Management Inc. TX now owns 9,580 shares of the shipping service provider’s stock valued at $2,082,000 after buying an additional 600 shares during the period. Kelman Lazarov Inc. boosted its position in shares of FedEx Corporation by 5.6% in the second quarter. Kelman Lazarov Inc. now owns 26,874 shares of the shipping service provider’s stock valued at $5,841,000 after buying an additional 1,435 shares during the period. Wagner Bowman Management Corp boosted its position in shares of FedEx Corporation by 3.4% in the second quarter. Wagner Bowman Management Corp now owns 7,047 shares of the shipping service provider’s stock valued at $1,531,000 after buying an additional 230 shares during the period. Bridges Investment Counsel Inc. boosted its position in shares of FedEx Corporation by 44.8% in the second quarter. Bridges Investment Counsel Inc. now owns 21,914 shares of the shipping service provider’s stock valued at $4,762,000 after buying an additional 6,777 shares during the period. Finally, Bridges Investment Management Inc. boosted its position in shares of FedEx Corporation by 1.3% in the second quarter. Bridges Investment Management Inc. now owns 35,846 shares of the shipping service provider’s stock valued at $7,790,000 after buying an additional 462 shares during the period. Institutional investors own 76.00% of the company’s stock.
FedEx Corporation (NYSE FDX) traded up 0.76% during midday trading on Friday, hitting $206.94. The stock had a trading volume of 530,814 shares. The stock’s 50-day moving average is $211.96 and its 200-day moving average is $199.04. The company has a market capitalization of $55.51 billion, a PE ratio of 18.69 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The company 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%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter last year, the business posted $3.30 earnings per share. Equities research analysts forecast that FedEx Corporation will post $13.56 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.97%. FedEx Corporation’s dividend payout ratio is currently 18.08%.
Several equities analysts have recently weighed in on the company. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday. Cowen and Company restated a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a research report on Thursday, August 10th. Credit Suisse Group restated a “buy” rating and set a $237.00 target price on shares of FedEx Corporation in a research report on Monday, August 7th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Vetr upgraded FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 target price for the company in a research report on Tuesday, July 18th. Six research analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. FedEx Corporation currently has a consensus rating of “Buy” and an average target price of $221.78.
In related news, insider Henry J. Maier sold 12,580 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $209.50, for a total value of $2,635,510.00. Following the completion of the transaction, the insider now owns 38,177 shares in the company, valued at $7,998,081.50. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by company insiders.
FedEx Corporation Company 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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