FedEx Corp. (FDX) Shares Bought by Cardinal Capital Management
Cardinal Capital Management increased its position in shares of FedEx Corp. (NYSE:FDX) by 0.1% during the second quarter, Holdings Channel reports. The institutional investor owned 14,594 shares of the shipping service provider’s stock after buying an additional 16 shares during the period. Cardinal Capital Management’s holdings in FedEx Corp. were worth $2,215,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Invictus RG acquired a new position in FedEx Corp. during the first quarter valued at approximately $161,000. Benchmark Capital Advisors acquired a new position in FedEx Corp. during the first quarter valued at approximately $212,000. Financial Architects Inc increased its position 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 valued at $222,000 after buying an additional 527 shares during the period. Mercer Capital Advisers Inc. acquired a new position in FedEx Corp. during the second quarter valued at approximately $233,000. Finally, Atria Investments LLC acquired a new position in FedEx Corp. during the second quarter valued at approximately $241,000. 73.72% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.22% during trading on Monday, reaching $174.30. The company’s stock had a trading volume of 1,454,245 shares. The firm’s 50-day moving average is $166.98 and its 200-day moving average is $162.66. The stock has a market capitalization of $46.32 billion, a PE ratio of 26.07 and a beta of 1.28. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $177.36.
FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The business had revenue of $14.70 billion for the quarter. During the same quarter in the previous year, the business earned $2.42 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. Equities analysts expect that FedEx Corp. will post $12.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Monday, October 3rd. Shareholders 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 yield of 0.92%. FedEx Corp.’s payout ratio is 23.99%.
Several research analysts have commented on FDX shares. Oppenheimer Holdings Inc. reissued a “buy” rating on shares of FedEx Corp. in a research note on Monday, June 6th. Citigroup Inc. reissued a “buy” rating and set a $200.00 price target on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Stifel Nicolaus reissued a “buy” rating and set a $179.00 price target (up from $178.00) on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Credit Suisse Group AG reissued a “buy” rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Finally, Robert W. Baird reissued a “buy” rating and set a $176.00 price target on shares of FedEx Corp. in a research note on Thursday, June 23rd. Ten equities research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the stock. FedEx Corp. presently has a consensus rating of “Buy” and an average target price of $176.59.
In other news, insider Henry J. Maier sold 5,213 shares of the firm’s stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $176.65, for a total transaction of $920,876.45. Following the transaction, the insider now owns 27,720 shares in the company, valued at $4,896,738. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO David J. Bronczek sold 32,669 shares of the firm’s stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total value of $5,759,544.70. Following the transaction, the chief executive officer now owns 85,356 shares in the company, valued at approximately $15,048,262.80. The disclosure for this sale can be found here. 8.67% of the stock is owned by company 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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