Callahan Advisors LLC Purchases 4,836 Shares of FedEx Corp. (FDX)
Callahan Advisors LLC raised its stake in shares of FedEx Corp. (NYSE:FDX) by 16.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 33,602 shares of the shipping service provider’s stock after buying an additional 4,836 shares during the period. FedEx Corp. accounts for approximately 1.5% of Callahan Advisors LLC’s holdings, making the stock its 29th largest position. Callahan Advisors LLC’s holdings in FedEx Corp. were worth $5,870,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Columbus Circle Investors raised its stake in FedEx Corp. by 7.1% in the second quarter. Columbus Circle Investors now owns 371,150 shares of the shipping service provider’s stock valued at $56,333,000 after buying an additional 24,449 shares in the last quarter. Kentucky Retirement Systems acquired a new stake in FedEx Corp. during the second quarter valued at about $3,222,000. Grandfield & Dodd LLC raised 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 in the last quarter. Zacks Investment Management raised its stake in FedEx Corp. by 185.0% in the second quarter. Zacks Investment Management now owns 75,473 shares of the shipping service provider’s stock valued at $11,455,000 after buying an additional 48,993 shares in the last quarter. Finally, Ferguson Wellman Capital Management Inc. raised its stake in 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. 73.96% of the stock is owned by institutional investors.
FedEx Corp. (NYSE:FDX) traded up 0.71% during trading on Wednesday, reaching $191.67. The company had a trading volume of 1,522,392 shares. The stock has a market capitalization of $50.94 billion, a P/E ratio of 28.67 and a beta of 1.14. The stock has a 50 day moving average of $178.12 and a 200-day moving average of $166.84. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $192.58.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company had revenue of $14.70 billion for the quarter. During the same period last year, the company earned $2.42 earnings per share. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, analysts forecast that FedEx Corp. will post $12.15 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be given a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a yield of 0.83%. The ex-dividend date of this dividend is Thursday, December 8th. FedEx Corp.’s dividend payout ratio (DPR) is currently 23.99%.
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FDX has been the subject of several research analyst reports. Robert W. Baird reissued an “outperform” rating and set a $185.00 price objective on shares of FedEx Corp. in a research note on Friday, September 23rd. Vetr lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price target for the company. in a research note on Tuesday, September 27th. Deutsche Bank AG initiated coverage on FedEx Corp. in a research note on Wednesday, November 2nd. They set a “buy” rating and a $210.00 price target for the company. Stifel Nicolaus lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $186.00 price target for the company. in a research note on Tuesday, November 15th. They noted that the move was a valuation call. Finally, Sanford C. Bernstein set a $159.00 price target on FedEx Corp. and gave the stock a “neutral” rating in a research note on Wednesday, September 21st. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. FedEx Corp. presently has a consensus rating of “Buy” and an average price target of $179.22.
In other news, EVP Christine P. Richards sold 80,080 shares of the firm’s stock in a transaction that occurred on Monday, October 10th. The shares were sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the transaction, the executive vice president now directly owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John L. Merino sold 10,280 shares of the firm’s stock in a transaction that occurred on Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the transaction, the vice president now directly owns 29,722 shares in the company, valued at $5,401,081.84. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by corporate 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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