Toronto Dominion Bank increased its stake in shares of FedEx Corporation (NYSE:FDX) by 53.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 69,207 shares of the shipping service provider’s stock after buying an additional 24,238 shares during the period. Toronto Dominion Bank’s holdings in FedEx Corporation were worth $13,505,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Federated Investors Inc. PA raised its stake in 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 valued at $58,537,000 after buying an additional 45,285 shares during the last quarter. Cigna Investments Inc. New bought a new stake in FedEx Corporation during the fourth quarter valued at $1,698,000. Quantitative Systematic Strategies LLC raised its stake in FedEx Corporation by 354.3% in the first quarter. Quantitative Systematic Strategies LLC now owns 13,026 shares of the shipping service provider’s stock valued at $2,542,000 after buying an additional 10,159 shares during the last quarter. ING Groep NV raised its stake in FedEx Corporation by 245.5% in the first quarter. ING Groep NV now owns 17,525 shares of the shipping service provider’s stock valued at $3,420,000 after buying an additional 12,453 shares during the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in FedEx Corporation by 0.5% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 14,016 shares of the shipping service provider’s stock valued at $2,610,000 after buying an additional 64 shares during the last quarter. Institutional investors own 77.04% of the company’s stock.
Shares of FedEx Corporation (NYSE:FDX) opened at 215.35 on Monday. The firm has a market capitalization of $57.58 billion, a price-to-earnings ratio of 30.62 and a beta of 1.28. The firm has a 50-day moving average price of $197.70 and a 200 day moving average price of $193.04. FedEx Corporation has a one year low of $145.00 and a one year high of $216.96.
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, topping analysts’ consensus estimates of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the prior year, the business posted $3.30 EPS. Equities analysts forecast that FedEx Corporation will post $13.64 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd 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 0.93%. This is an increase from FedEx Corporation’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, June 20th. FedEx Corporation’s dividend payout ratio is 18.08%.
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Several analysts recently weighed in on FDX shares. Vetr upgraded FedEx Corporation from a “buy” rating to a “strong-buy” rating and set a $208.76 price target on the stock in a report on Wednesday, April 12th. Barclays PLC restated an “overweight” rating and set a $230.00 price target on shares of FedEx Corporation in a report on Monday, March 20th. J P Morgan Chase & Co restated an “outperform” rating and set a $236.00 price target (up previously from $230.00) on shares of FedEx Corporation in a report on Monday, March 20th. Credit Suisse Group restated an “outperform” rating and set a $209.00 price target (up previously from $205.00) on shares of FedEx Corporation in a report on Monday, March 6th. Finally, Deutsche Bank AG increased their price target on FedEx Corporation to $210.00 and gave the company a “positive” rating in a report on Wednesday, March 22nd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. FedEx Corporation presently has a consensus rating of “Buy” and an average target price of $218.55.
In other news, Director Paul S. Walsh sold 4,400 shares of the stock in a transaction that occurred on Friday, April 7th. The stock was sold at an average price of $196.38, for a total transaction of $864,072.00. Following the completion of the transaction, the director now directly owns 14,400 shares of the company’s stock, valued at approximately $2,827,872. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Frederick W. Smith sold 135,000 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The disclosure for this sale can be found here. Over the last three months, insiders have sold 150,899 shares of company stock valued at $28,657,309. 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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