FedEx Corp. (FDX) Stake Maintained by Hanson & Doremus Investment Management
Hanson & Doremus Investment Management maintained its position in FedEx Corp. (NYSE:FDX) during the second quarter, Holdings Channel reports. The fund owned 1,397 shares of the shipping service provider’s stock at the end of the second quarter. Hanson & Doremus Investment Management’s holdings in FedEx Corp. were worth $212,000 at the end of the most recent reporting period.
A number of other institutional investors have also added to or reduced their stakes in the company. Invictus RG bought a new stake in FedEx Corp. during the first quarter worth about $161,000. Financial Architects Inc boosted 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 during the last quarter. Mercer Capital Advisers Inc. bought a new stake in FedEx Corp. during the second quarter worth about $233,000. Quadrant Capital Group LLC boosted its stake in FedEx Corp. by 0.9% in the second quarter. Quadrant Capital Group LLC now owns 1,623 shares of the shipping service provider’s stock worth $238,000 after buying an additional 15 shares during the last quarter. Finally, Atria Investments LLC bought a new stake in FedEx Corp. during the second quarter worth about $241,000. 73.67% of the stock is owned by hedge funds and other institutional investors.
FedEx Corp. (NYSE:FDX) traded up 0.08% during mid-day trading on Tuesday, hitting $170.97. The stock had a trading volume of 417,026 shares. The firm has a market capitalization of $45.44 billion, a price-to-earnings ratio of 25.57 and a beta of 1.28. The stock’s 50 day moving average price is $168.89 and its 200 day moving average price is $163.74. FedEx Corp. has a one year low of $119.71 and a one year high of $177.36.
FedEx Corp. (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The company earned $14.70 billion during the quarter. During the same period in the previous year, the business earned $2.42 earnings per share. The business’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that FedEx Corp. will post $12.14 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Monday, October 3rd. Stockholders of record on Monday, September 12th were given 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 dividend yield of 0.94%. FedEx Corp.’s payout ratio is 23.99%.
FDX has been the topic of a number of recent research reports. Vetr cut FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price on the stock. in a research note on Monday, August 8th. Citigroup Inc. reiterated a “buy” rating and issued a $200.00 target price on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Stifel Nicolaus reiterated a “buy” rating and issued a $179.00 target price (up from $178.00) on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Credit Suisse Group AG reiterated a “buy” rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Finally, Oppenheimer Holdings Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating, eleven have given a buy rating and one has assigned a strong buy rating to the company’s stock. FedEx Corp. currently has an average rating of “Buy” and an average target price of $176.59.
In related news, EVP Christine P. Richards sold 80,080 shares of FedEx Corp. stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the completion of the sale, the executive vice president now directly owns 98,620 shares of the company’s stock, valued at approximately $17,119,445.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. stock in a transaction that occurred on Thursday, August 11th. The stock was sold at an average price of $164.51, for a total value of $822,550.00. Following the sale, the executive vice president now directly owns 53,399 shares of the company’s stock, valued at $8,784,669.49. The disclosure for this sale can be found here. 8.67% of the stock is owned by insiders.
About FedEx Corp.
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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