Beese Fulmer Investment Management Inc. Holds Position in FedEx Corporation (FDX)

Beese Fulmer Investment Management Inc. held its stake in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,327 shares of the shipping service provider’s stock at the close of the 2nd quarter. Beese Fulmer Investment Management Inc.’s holdings in FedEx Corporation were worth $288,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the business. Abner Herrman & Brock LLC increased its holdings in FedEx Corporation by 46.7% in the second quarter. Abner Herrman & Brock LLC now owns 49,243 shares of the shipping service provider’s stock worth $10,702,000 after purchasing an additional 15,684 shares in the last quarter. Ledyard National Bank increased its holdings in FedEx Corporation by 110.7% in the second quarter. Ledyard National Bank now owns 1,296 shares of the shipping service provider’s stock worth $281,000 after purchasing an additional 681 shares in the last quarter. Horrell Capital Management Inc. increased its holdings in FedEx Corporation by 2.5% in the second quarter. Horrell Capital Management Inc. now owns 27,959 shares of the shipping service provider’s stock worth $6,076,000 after purchasing an additional 681 shares in the last quarter. Mn Services Vermogensbeheer B.V. increased its holdings in FedEx Corporation by 516.9% in the second quarter. Mn Services Vermogensbeheer B.V. now owns 41,690 shares of the shipping service provider’s stock worth $9,060,000 after purchasing an additional 34,932 shares in the last quarter. Finally, BTR Capital Management Inc. increased its holdings in FedEx Corporation by 23.3% in the second quarter. BTR Capital Management Inc. now owns 10,504 shares of the shipping service provider’s stock worth $2,283,000 after purchasing an additional 1,987 shares in the last quarter. Institutional investors and hedge funds own 75.86% of the company’s stock.

ILLEGAL ACTIVITY WARNING: This piece was originally posted by Stock Observer and is the property of of Stock Observer. If you are viewing this piece on another domain, it was illegally stolen and republished in violation of United States & international trademark and copyright legislation. The correct version of this piece can be accessed at https://www.thestockobserver.com/2017/09/12/beese-fulmer-investment-management-inc-holds-position-in-fedex-corporation-fdx.html.

A number of brokerages have commented on FDX. Zacks Investment Research cut FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. BMO Capital Markets raised their price objective on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. CIBC raised their price objective on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. Finally, J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a research note on Wednesday, June 21st. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $221.72.

In other news, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Kim Jabal sold 5,918 shares of the firm’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total value of $1,278,583.90. Following the completion of the transaction, the director now owns 3,610 shares in the company, valued at $779,940.50. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,757 shares of company stock worth $16,447,426. Company insiders own 8.45% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) traded up 1.85% during mid-day trading on Tuesday, hitting $216.33. The company’s stock had a trading volume of 781,303 shares. The stock’s 50 day moving average price is $209.32 and its 200 day moving average price is $201.38. The company has a market cap of $58.03 billion, a price-to-earnings ratio of 19.54 and a beta of 1.28. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99.

FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the business posted $3.30 EPS. The company’s revenue was up 21.0% compared to the same quarter last year. Equities analysts forecast that FedEx Corporation will post $13.53 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.94%. FedEx Corporation’s dividend payout ratio is 18.08%.

FedEx Corporation 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.

Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX).

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply