Goelzer Investment Management Inc. decreased its stake in shares of FedEx Corporation (NYSE:FDX) by 7.9% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 11,099 shares of the shipping service provider’s stock after selling 949 shares during the period. Goelzer Investment Management Inc.’s holdings in FedEx Corporation were worth $2,166,000 at the end of the most recent quarter.
A number of other hedge funds have also modified their holdings of the stock. Alexandria Capital LLC increased its stake in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares during the period. Pinnacle Bank acquired a new stake in shares of FedEx Corporation during the first quarter valued at about $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 valued at $129,000 after buying an additional 10 shares during the period. 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 valued at $132,000 after buying an additional 10 shares during the period. Finally, Ancora Advisors LLC acquired a new stake in shares of FedEx Corporation during the fourth quarter valued at about $157,000. 77.04% of the stock is currently owned by institutional investors.
FedEx Corporation (NYSE:FDX) opened at 210.45 on Tuesday. The stock has a market cap of $56.27 billion, a PE ratio of 29.92 and a beta of 1.28. The company’s 50-day moving average price is $197.11 and its 200-day moving average price is $192.93. FedEx Corporation has a 12-month low of $145.00 and a 12-month high of $211.88.
FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, March 21st. The shipping service provider reported $2.35 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.62 by $0.27. The business had revenue of $15 billion for the quarter, compared to analyst estimates of $15 billion. FedEx Corporation had a return on equity of 21.32% and a net margin of 3.31%. FedEx Corporation’s revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business earned $2.51 EPS. On average, equities analysts expect that FedEx Corporation will post $11.95 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd will be paid a dividend of $0.50 per share. This is a boost from FedEx Corporation’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend is Tuesday, June 20th. This represents a $2.00 annualized dividend and a yield of 0.95%. FedEx Corporation’s dividend payout ratio (DPR) is 22.70%.
Several brokerages recently issued reports on FDX. Zacks Investment Research downgraded FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Barclays PLC reissued an “overweight” rating and set a $230.00 target price on shares of FedEx Corporation in a research note on Monday, March 20th. Raymond James Financial, Inc. reissued an “outperform” rating on shares of FedEx Corporation in a research note on Thursday, March 23rd. J P Morgan Chase & Co lifted their target price on FedEx Corporation to $236.00 in a research note on Wednesday, March 22nd. Finally, CIBC lifted their target price on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have given a buy rating to the company. FedEx Corporation has an average rating of “Buy” and an average target price of $210.99.
In other FedEx Corporation news, EVP Alan B. Graf, Jr. sold 25,655 shares of the firm’s stock in a transaction on Thursday, March 23rd. The stock was sold at an average price of $195.00, for a total transaction of $5,002,725.00. Following the completion of the sale, the executive vice president now owns 151,536 shares of the company’s stock, valued at $29,549,520. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Frederick W. Smith sold 135,000 shares of the firm’s 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 sale, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at approximately $2,896,945,659.66. The disclosure for this sale can be found here. In the last three months, insiders have sold 195,598 shares of company stock valued at $37,347,615. 8.67% of the stock is owned by insiders.
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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