First Financial Corp IN maintained its stake in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,023 shares of the shipping service provider’s stock at the end of the 2nd quarter. First Financial Corp IN’s holdings in FedEx Corporation were worth $222,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Handelsbanken Fonder AB bought a new stake in FedEx Corporation during the 2nd quarter valued at about $435,000. Northwestern Mutual Wealth Management Co. lifted its holdings in FedEx Corporation by 2.7% during the 1st 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 in the last quarter. Madison Investment Holdings Inc. lifted its holdings in FedEx Corporation by 63.6% during the 1st quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after buying an additional 70,436 shares in the last quarter. Pennsylvania Trust Co lifted its holdings in FedEx Corporation by 135.0% during the 2nd quarter. Pennsylvania Trust Co now owns 14,005 shares of the shipping service provider’s stock valued at $3,044,000 after buying an additional 8,045 shares in the last quarter. Finally, Bank of The West lifted its holdings in FedEx Corporation by 31.2% during the 2nd quarter. Bank of The West now owns 7,719 shares of the shipping service provider’s stock valued at $1,678,000 after buying an additional 1,834 shares in the last quarter. Institutional investors own 75.84% of the company’s stock.
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In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the business’s stock in a transaction on Thursday, June 29th. The shares were sold at an average price of $216.13, for a total transaction of $131,623.17. Following the sale, the director now directly owns 2,100 shares in the company, valued at approximately $453,873. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now owns 30,608 shares in the company, valued at $6,370,749.12. The disclosure for this sale can be found here. 8.45% of the stock is currently owned by insiders.
FDX has been the subject of several recent research reports. UBS AG restated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Stephens set a $246.00 price target on shares of FedEx Corporation and gave the company an “overweight” rating in a report on Wednesday, June 21st. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Loop Capital restated a “buy” rating and issued a $260.00 price target (up previously from $250.00) on shares of FedEx Corporation in a report on Wednesday. Finally, Wells Fargo & Company boosted their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average price target of $225.26.
FedEx Corporation (FDX) opened at 220.00 on Friday. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $220.95. The firm has a market capitalization of $59.02 billion, a PE ratio of 19.87 and a beta of 1.28. The company has a 50 day moving average of $210.17 and a 200 day moving average of $202.36. FedEx Corporation also was the recipient of some unusual options trading activity on Wednesday. Traders acquired 15,812 put options on the company. This represents an increase of 524% compared to the typical daily volume of 2,532 put options.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the business earned $2.90 earnings per share. Analysts forecast that FedEx Corporation will post $12.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is currently 18.87%.
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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