FedEx Corp. (FDX) Position Increased by Delta Lloyd NV
Delta Lloyd NV raised its position in FedEx Corp. (NYSE:FDX) by 9.6% during the third quarter, Holdings Channel reports. The fund owned 21,509 shares of the shipping service provider’s stock after buying an additional 1,890 shares during the period. Delta Lloyd NV’s holdings in FedEx Corp. were worth $3,757,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in FDX. Canada Pension Plan Investment Board raised its stake in shares of FedEx Corp. by 0.3% in the second quarter. Canada Pension Plan Investment Board now owns 3,146,806 shares of the shipping service provider’s stock worth $477,622,000 after buying an additional 9,900 shares during the last quarter. Ameriprise Financial Inc. raised its stake in shares of FedEx Corp. by 0.3% in the second quarter. Ameriprise Financial Inc. now owns 2,989,163 shares of the shipping service provider’s stock worth $453,713,000 after buying an additional 9,606 shares during the last quarter. LSV Asset Management raised its stake in shares of FedEx Corp. by 1.1% in the second quarter. LSV Asset Management now owns 1,734,372 shares of the shipping service provider’s stock worth $263,242,000 after buying an additional 19,650 shares during the last quarter. Jennison Associates LLC acquired a new stake in shares of FedEx Corp. during the third quarter worth approximately $215,531,000. Finally, Prudential Financial Inc. raised its stake in shares of FedEx Corp. by 3.0% in the second quarter. Prudential Financial Inc. now owns 1,230,807 shares of the shipping service provider’s stock worth $186,811,000 after buying an additional 36,035 shares during the last quarter. Hedge funds and other institutional investors own 73.96% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.71% during trading on Wednesday, reaching $191.67. The company’s stock had a trading volume of 1,533,490 shares. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $192.58. The company has a market cap of $50.94 billion, a PE ratio of 28.67 and a beta of 1.14. The firm’s 50-day moving average is $178.58 and its 200 day moving average is $167.08.
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 consensus estimate 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 quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.42 EPS. On average, equities research analysts predict that FedEx Corp. will post $12.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a $0.40 dividend. The ex-dividend date of this dividend is Thursday, December 8th. This represents a $1.60 annualized dividend and a yield of 0.83%. FedEx Corp.’s dividend payout ratio is 23.99%.
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A number of equities research analysts have recently weighed in on the company. Robert W. Baird reaffirmed an “outperform” rating and set a $185.00 price target on shares of FedEx Corp. in a research note on Friday, September 23rd. 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. Zacks Investment Research downgraded FedEx Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Deutsche Bank AG assumed 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. Finally, Vetr downgraded FedEx Corp. from a “buy” rating to a “hold” rating and set a $199.16 price target for the company. in a research note on Monday. Twelve equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has issued a strong buy rating to the company. The company 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 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 transaction, the executive vice president now owns 98,620 shares in the company, valued at $17,119,445.80. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Henry J. Maier sold 5,213 shares of the stock in a transaction that occurred on 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 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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