Huntington National Bank decreased its holdings in shares of FedEx Co. (NYSE:FDX) by 10.0% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 19,154 shares of the shipping service provider’s stock after selling 2,133 shares during the period. Huntington National Bank’s holdings in FedEx were worth $2,686,000 at the end of the most recent reporting period.
Several other institutional investors have also modified their holdings of the business. BlackRock Inc. raised its position in shares of FedEx by 3.9% during the 1st quarter. BlackRock Inc. now owns 17,395,107 shares of the shipping service provider’s stock valued at $2,109,329,000 after acquiring an additional 645,024 shares during the last quarter. Parnassus Investments CA increased its position in shares of FedEx by 47.0% in the 1st quarter. Parnassus Investments CA now owns 6,136,330 shares of the shipping service provider’s stock valued at $744,091,000 after buying an additional 1,960,883 shares in the last quarter. Geode Capital Management LLC increased its holdings in FedEx by 1.9% during the 1st quarter. Geode Capital Management LLC now owns 3,335,834 shares of the shipping service provider’s stock worth $403,607,000 after purchasing an additional 62,064 shares in the last quarter. Southeastern Asset Management Inc. TN increased its holdings in FedEx by 5.6% during the 1st quarter. Southeastern Asset Management Inc. TN now owns 2,565,436 shares of the shipping service provider’s stock worth $311,084,000 after purchasing an additional 135,696 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in FedEx by 212.2% during the 1st quarter. Invesco Ltd. now owns 2,116,047 shares of the shipping service provider’s stock worth $256,592,000 after purchasing an additional 1,438,225 shares in the last quarter. Institutional investors own 73.89% of the company’s stock.
In other FedEx news, CEO Frederick W. Smith sold 155,750 shares of the stock in a transaction dated Thursday, May 7th. The shares were sold at an average price of $117.71, for a total value of $18,333,332.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Marvin R. Ellison purchased 2,200 shares of the stock in a transaction on Wednesday, July 22nd. The stock was bought at an average cost of $164.53 per share, for a total transaction of $361,966.00. Following the completion of the acquisition, the director now owns 4,401 shares in the company, valued at $724,096.53. The disclosure for this purchase can be found here. Over the last three months, insiders sold 196,550 shares of company stock worth $24,818,258. Insiders own 8.44% of the company’s stock.
FedEx stock opened at $168.40 on Friday. The stock has a market cap of $44.11 billion, a P/E ratio of 34.44, a P/E/G ratio of 1.40 and a beta of 1.32. The company has a quick ratio of 1.53, a current ratio of 1.58 and a debt-to-equity ratio of 1.87. FedEx Co. has a twelve month low of $88.69 and a twelve month high of $176.25. The company’s 50-day moving average price is $151.03 and its two-hundred day moving average price is $136.84.
FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 30th. The shipping service provider reported $2.53 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.42 by $1.11. The firm had revenue of $17.36 billion for the quarter, compared to analysts’ expectations of $16.54 billion. FedEx had a net margin of 1.86% and a return on equity of 13.49%. The business’s revenue was down 2.5% on a year-over-year basis. During the same period in the prior year, the firm earned $5.01 EPS. Equities analysts anticipate that FedEx Co. will post 10.03 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 13th. Shareholders of record on Monday, June 29th were issued a $0.65 dividend. The ex-dividend date was Friday, June 26th. This represents a $2.60 annualized dividend and a yield of 1.54%. FedEx’s dividend payout ratio is currently 27.37%.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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