Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its position in FedEx Corporation (NYSE:FDX) by 3.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 40,492 shares of the shipping service provider’s stock after buying an additional 1,485 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in FedEx Corporation were worth $7,902,000 as of its most recent SEC filing.
Other hedge funds have also recently made changes to their positions in the company. Bank of The Ozarks boosted its position in FedEx Corporation by 3.6% in the third quarter. Bank of The Ozarks now owns 9,405 shares of the shipping service provider’s stock valued at $1,643,000 after buying an additional 330 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in shares of FedEx Corporation during the fourth quarter worth approximately $17,335,000. Commerzbank Aktiengesellschaft FI boosted its position in shares of FedEx Corporation by 12.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 48,944 shares of the shipping service provider’s stock worth $9,113,000 after buying an additional 5,435 shares during the last quarter. LSV Asset Management boosted its position in shares of FedEx Corporation by 27.6% in the third quarter. LSV Asset Management now owns 2,212,650 shares of the shipping service provider’s stock worth $386,505,000 after buying an additional 478,278 shares during the last quarter. Finally, Federated Investors Inc. PA boosted its position in shares of FedEx Corporation by 16.8% in the fourth quarter. Federated Investors Inc. PA now owns 314,377 shares of the shipping service provider’s stock worth $58,537,000 after buying an additional 45,285 shares during the last quarter. 77.04% of the stock is owned by hedge funds and other institutional investors.
FedEx Corporation (NYSE:FDX) traded up 0.21% during midday trading on Monday, hitting $210.95. 2,317,975 shares of the stock were exchanged. FedEx Corporation has a one year low of $145.00 and a one year high of $211.88. The stock has a market cap of $56.40 billion, a P/E ratio of 29.99 and a beta of 1.28. The firm has a 50-day moving average price of $196.50 and a 200-day moving average price of $192.76. FedEx Corporation also was the recipient of unusually large options trading on Friday. Stock investors bought 3,273 call options on the company. This represents an increase of 336% compared to the average daily volume of 750 call options.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, March 21st. The shipping service provider reported $2.35 EPS for the quarter, missing the Zacks’ consensus estimate of $2.62 by $0.27. The company had revenue of $15 billion for the quarter, compared to the consensus estimate of $15 billion. FedEx Corporation had a return on equity of 21.32% and a net margin of 3.31%. FedEx Corporation’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.51 earnings per share. On average, equities research analysts anticipate that FedEx Corporation will post $11.95 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd will be paid a $0.50 dividend. This is a boost from FedEx Corporation’s previous quarterly dividend of $0.40. The ex-dividend date is Tuesday, June 20th. This represents a $2.00 annualized dividend and a dividend yield of 0.95%. FedEx Corporation’s dividend payout ratio is presently 22.70%.
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Several research firms have recently issued reports on FDX. Deutsche Bank AG set a $209.00 target price on shares of FedEx Corporation and gave the stock a “buy” rating in a report on Saturday, March 18th. Vetr upgraded shares of 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. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Tuesday, May 23rd. ValuEngine upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Finally, Seaport Global Securities initiated coverage on shares of FedEx Corporation in a report on Tuesday, June 6th. They set a “neutral” rating for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average target price of $210.99.
In other news, CEO Frederick W. Smith sold 135,000 shares of the stock in a transaction on Tuesday, May 2nd. The stock was sold at an average price of $189.02, for a total value of $25,517,700.00. Following the completion of the transaction, the chief executive officer now owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Alan B. Graf, Jr. sold 25,655 shares of the stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $195.00, for a total value of $5,002,725.00. Following the completion of the transaction, the executive vice president now directly owns 151,536 shares of the company’s stock, valued at approximately $29,549,520. The disclosure for this sale can be found here. In the last three months, insiders sold 195,598 shares of company stock valued at $37,347,615. Company insiders own 8.67% of the company’s stock.
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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