FedEx Corp. (FDX) Shares Sold by Wagner Bowman Management Corp
Wagner Bowman Management Corp decreased its position in FedEx Corp. (NYSE:FDX) by 3.4% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,442 shares of the shipping service provider’s stock after selling 225 shares during the period. Wagner Bowman Management Corp’s holdings in FedEx Corp. were worth $977,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in FDX. Invictus RG bought a new stake in FedEx Corp. during the first quarter worth approximately $161,000. Benchmark Capital Advisors bought a new stake in FedEx Corp. during the first quarter worth approximately $212,000. Financial Architects Inc increased its stake in FedEx Corp. by 56.2% in the second quarter. Financial Architects Inc now owns 1,465 shares of the shipping service provider’s stock worth $222,000 after buying an additional 527 shares in the last quarter. Mercer Capital Advisers Inc. bought a new stake in FedEx Corp. during the second quarter worth approximately $233,000. Finally, Atria Investments LLC bought a new stake in FedEx Corp. during the second quarter worth approximately $241,000. Institutional investors own 73.78% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.12% during midday trading on Thursday, reaching $173.66. The company had a trading volume of 3,176,327 shares. FedEx Corp. has a one year low of $119.71 and a one year high of $175.38. The company has a 50 day moving average price of $164.95 and a 200-day moving average price of $161.28. The firm has a market capitalization of $46.11 billion, a P/E ratio of 26.68 and a beta of 1.35.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.56% and a net margin of 3.49%. FedEx Corp.’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.42 EPS. On average, analysts anticipate that FedEx Corp. will post $12.03 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Stockholders of record on Monday, September 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.92%. FedEx Corp.’s payout ratio is presently 23.99%.
A number of equities research analysts recently commented on FDX shares. Sanford C. Bernstein reiterated a “hold” rating on shares of FedEx Corp. in a report on Thursday, May 26th. Zacks Investment Research downgraded FedEx Corp. from a “buy” rating to a “hold” rating in a report on Monday, May 30th. Stifel Nicolaus upped their price objective on FedEx Corp. from $174.00 to $178.00 and gave the company a “buy” rating in a report on Thursday, June 2nd. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of FedEx Corp. in a research note on Monday, June 6th. Finally, Morgan Stanley reissued a “hold” rating on shares of FedEx Corp. in a research note on Monday, June 6th. Nine investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the stock. FedEx Corp. presently has a consensus rating of “Buy” and a consensus target price of $175.85.
In other news, EVP Alan B. Graf, Jr. sold 7,400 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total value of $1,179,782.00. Following the transaction, the executive vice president now owns 150,665 shares in the company, valued at approximately $24,020,520.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Michael L. Ducker sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $158.43, for a total value of $792,150.00. Following the completion of the transaction, the chief executive officer now owns 56,265 shares in the company, valued at approximately $8,914,063.95. The disclosure for this sale can be found here. 8.67% of the stock is owned by insiders.
FedEx Corp. 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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