Moody Lynn & Lieberson LLC Invests $3,145,000 in FedEx Corp. (FDX)
Moody Lynn & Lieberson LLC bought a new position in FedEx Corp. (NYSE:FDX) during the second quarter, Holdings Channel reports. The fund bought 20,723 shares of the shipping service provider’s stock, valued at approximately $3,145,000.
Several other institutional investors also recently made changes to their positions in the company. Wellington Management Group LLP raised its stake in shares of FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock worth $1,389,772,000 after buying an additional 2,881,893 shares in the last quarter. Primecap Management Co. CA raised its stake in shares of FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock worth $2,622,520,000 after buying an additional 1,371,175 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of FedEx Corp. during the second quarter worth about $98,813,000. Southpoint Capital Advisors LP acquired a new stake in shares of FedEx Corp. during the first quarter worth about $90,607,000. Finally, First Manhattan Co. raised its stake in shares of FedEx Corp. by 512.7% in the second quarter. First Manhattan Co. now owns 328,102 shares of the shipping service provider’s stock worth $49,799,000 after buying an additional 274,555 shares in the last quarter. Hedge funds and other institutional investors own 73.67% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded up 0.038% during trading on Tuesday, reaching $170.905. The company had a trading volume of 650,458 shares. The firm has a 50-day moving average of $168.89 and a 200-day moving average of $163.74. FedEx Corp. has a 1-year low of $119.71 and a 1-year high of $177.36. The stock has a market capitalization of $45.42 billion, a price-to-earnings ratio of 25.562 and a beta of 1.28.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share 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 had revenue of $14.70 billion for the quarter. During the same quarter in the prior year, the business earned $2.42 earnings per share. The firm’s quarterly revenue was up 19.5% on a year-over-year basis. On average, analysts anticipate that FedEx Corp. will post $12.14 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were paid a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s dividend payout ratio is presently 23.99%.
A number of equities research analysts have weighed in on FDX shares. Wolfe Research raised FedEx Corp. from a “market perform” rating to an “outperform” rating in a research report on Friday, July 1st. Cowen and Company reaffirmed a “market perform” rating and set a $110.00 target price on shares of FedEx Corp. in a research report on Sunday, July 31st. Zacks Investment Research lowered FedEx Corp. from a “hold” rating to a “sell” rating in a research report on Tuesday, August 23rd. Vetr lowered FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price for the company. in a research report on Monday, August 8th. Finally, Barclays PLC reaffirmed a “buy” rating and set a $205.00 target price on shares of FedEx Corp. in a research report on Monday, September 19th. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $176.59.
In other news, EVP Robert B. Carter sold 5,000 shares of FedEx Corp. stock in a transaction dated Thursday, August 11th. The stock was sold at an average price of $164.51, for a total transaction of $822,550.00. Following the sale, the executive vice president now owns 53,399 shares in the company, valued at $8,784,669.49. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 sale, the insider now owns 27,720 shares in the company, valued at approximately $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is owned by company 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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