FedEx Corp. (FDX) Shares Bought by Quadrant Capital Group LLC
Quadrant Capital Group LLC increased its stake in FedEx Corp. (NYSE:FDX) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 1,623 shares of the shipping service provider’s stock after buying an additional 15 shares during the period. Quadrant Capital Group LLC’s holdings in FedEx Corp. were worth $238,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. increased its stake in shares of FedEx Corp. by 1.1% in the second quarter. Ferguson Wellman Capital Management Inc. now owns 115,921 shares of the shipping service provider’s stock valued at $17,594,000 after buying an additional 1,230 shares in the last quarter. Grandfield & Dodd LLC increased its stake in FedEx Corp. by 5.0% in the second quarter. Grandfield & Dodd LLC now owns 78,590 shares of the shipping service provider’s stock valued at $11,929,000 after buying an additional 3,733 shares during the period. Legal & General Group Plc increased its stake in FedEx Corp. by 2.0% in the first quarter. Legal & General Group Plc now owns 1,159,796 shares of the shipping service provider’s stock valued at $188,709,000 after buying an additional 22,819 shares during the period. Southpoint Capital Advisors LP acquired a new stake in FedEx Corp. during the first quarter valued at approximately $90,607,000. Finally, Atalanta Sosnoff Capital LLC increased its stake in FedEx Corp. by 24.6% in the second quarter. Atalanta Sosnoff Capital LLC now owns 210,065 shares of the shipping service provider’s stock valued at $31,884,000 after buying an additional 41,468 shares during the period. Institutional investors and hedge funds own 73.72% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded up 0.38% during mid-day trading on Wednesday, reaching $174.26. 1,202,655 shares of the company were exchanged. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36. The company has a market cap of $46.31 billion, a P/E ratio of 26.06 and a beta of 1.28. The stock’s 50-day moving average is $167.44 and its 200-day moving average is $163.10.
FedEx Corp. (NYSE:FDX) last released its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. The firm had revenue of $14.70 billion for the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. FedEx Corp.’s revenue was up 19.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.42 earnings per share. Equities analysts expect that FedEx Corp. will post $12.14 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.92%. FedEx Corp.’s dividend payout ratio is currently 23.99%.
Several analysts recently commented on the stock. Cowen and Company reiterated a “buy” rating and issued a $180.00 price target on shares of FedEx Corp. in a research report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and issued a $179.00 price target (up previously from $178.00) on shares of FedEx Corp. in a research report on Wednesday, June 22nd. Oppenheimer Holdings Inc. upped their price target on shares of FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a research report on Wednesday, September 21st. Vetr upgraded shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price target for the company in a research report on Tuesday, August 2nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $200.00 price objective on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $176.59.
In related news, insider Henry J. Maier sold 5,213 shares of FedEx Corp. stock in a transaction dated Wednesday, September 28th. The stock was sold at an average price of $176.65, for a total value of $920,876.45. Following the transaction, the insider now owns 27,720 shares of the company’s stock, valued at approximately $4,896,738. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Michael L. Ducker sold 5,000 shares of FedEx Corp. stock in a transaction dated 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 directly 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 corporate 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.
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corp. (NYSE:FDX).
Receive News & Ratings for FedEx Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corp. and related companies with MarketBeat.com's FREE daily email newsletter.