1st Global Advisors Inc. increased its position in FedEx Corporation (NYSE:FDX) by 22.4% during the first quarter, Holdings Channel reports. The institutional investor owned 7,429 shares of the shipping service provider’s stock after buying an additional 1,361 shares during the period. 1st Global Advisors Inc.’s holdings in FedEx Corporation were worth $1,450,000 as of its most recent filing with the SEC.
Other institutional investors also recently bought and sold shares of the company. Alexandria Capital LLC raised its position in 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 in the last quarter. Pinnacle Bank acquired a new stake in shares of FedEx Corporation during the first quarter worth $122,000. Adirondack Trust Co. increased its stake in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares during the last quarter. Brick & Kyle Associates increased its stake 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. Finally, Ancora Advisors LLC acquired a new stake in shares of FedEx Corporation during the fourth quarter worth $157,000. 76.46% of the stock is currently owned by institutional investors.
Shares of FedEx Corporation (NYSE:FDX) opened at 218.51 on Monday. The company’s 50-day moving average price is $202.48 and its 200 day moving average price is $194.04. FedEx Corporation has a one year low of $153.95 and a one year high of $219.36. The company has a market cap of $59.22 billion, a P/E ratio of 19.74 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. During the same quarter last year, the company earned $3.30 EPS. The firm’s revenue for the quarter was up 21.0% on a year-over-year basis. On average, equities research analysts anticipate that FedEx Corporation will post $13.63 earnings per share for the current year.
The business also recently disclosed 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 represents a $2.00 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date was Tuesday, June 20th. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. FedEx Corporation’s dividend payout ratio (DPR) is 18.08%.
A number of brokerages have weighed in on FDX. Deutsche Bank AG set a $209.00 target price on FedEx Corporation and gave the stock a “buy” rating in a report on Saturday, March 18th. Vetr upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 target price for the company in a report on Wednesday, May 17th. Stephens set a $246.00 target price on FedEx Corporation and gave the stock an “overweight” rating in a report on Wednesday, June 21st. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 target price for the company in a report on Tuesday, May 23rd. Finally, Seaport Global Securities began coverage on FedEx Corporation in a report on Tuesday, June 6th. They issued a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $221.21.
In related news, VP John L. Merino sold 7,200 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the completion of the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Henry J. Maier sold 12,580 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $209.50, for a total value of $2,635,510.00. Following the transaction, the insider now directly owns 38,177 shares of the company’s stock, valued at approximately $7,998,081.50. The disclosure for this sale can be found here. In 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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