Impala Asset Management LLC cut its position in FedEx Corporation (NYSE:FDX) by 27.3% during the first quarter, Holdings Channel reports. The fund owned 116,589 shares of the shipping service provider’s stock after selling 43,709 shares during the period. Impala Asset Management LLC’s holdings in FedEx Corporation were worth $22,752,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Alexandria Capital LLC raised its position 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 worth $103,000 after buying an additional 11 shares during the last quarter. Pinnacle Bank bought a new position in shares of FedEx Corporation during the first quarter worth approximately $122,000. Brick & Kyle Associates raised its position in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares during the last quarter. Guardian Life Insurance Co. of America raised its position in shares of FedEx Corporation by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after buying an additional 9 shares during the last quarter. Finally, Cohen Capital Management Inc. bought a new position in shares of FedEx Corporation during the first quarter worth approximately $185,000. 76.00% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Corporation (NYSE:FDX) traded up 0.31% during midday trading on Friday, hitting $206.00. 930,437 shares of the stock traded hands. The firm’s 50-day moving average is $211.69 and its 200-day moving average is $199.13. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99. The company has a market cap of $55.26 billion, a price-to-earnings ratio of 18.61 and a beta of 1.27.
FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 earnings per share. Analysts predict that FedEx Corporation will post $13.56 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be paid a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.97%. FedEx Corporation’s dividend payout ratio is currently 18.08%.
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A number of brokerages have recently commented on FDX. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets increased their price target on shares of FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday. CIBC increased their price target on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $221.78.
In other news, Director Kim Jabal sold 5,918 shares of the business’s stock in a transaction on Friday, June 23rd. The shares were sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the completion of the sale, the director now directly owns 3,610 shares of the company’s stock, valued at $779,940.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Robert B. Carter sold 24,522 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the sale, the executive vice president now directly owns 68,556 shares of the company’s stock, valued at $14,462,573.76. The disclosure for this sale can be found here. Insiders have sold 77,757 shares of company stock valued at $16,447,426 over the last three months. 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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