National Pension Service Purchases 14,047 Shares of FedEx Corp. (FDX)
National Pension Service boosted its stake in shares of FedEx Corp. (NYSE:FDX) by 8.4% during the third quarter, Holdings Channel reports. The fund owned 180,456 shares of the shipping service provider’s stock after buying an additional 14,047 shares during the period. National Pension Service’s holdings in FedEx Corp. were worth $31,522,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in FDX. Euclid Advisors LLC purchased a new stake in FedEx Corp. during the first quarter valued at approximately $2,000,000. BNP Paribas Arbitrage SA raised its position in FedEx Corp. by 37.4% in the second quarter. BNP Paribas Arbitrage SA now owns 288,414 shares of the shipping service provider’s stock valued at $43,775,000 after buying an additional 78,518 shares during the period. Kistler Tiffany Companies LLC raised its position in FedEx Corp. by 57.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,389 shares of the shipping service provider’s stock valued at $363,000 after buying an additional 868 shares during the period. Curbstone Financial Management Corp raised its position in FedEx Corp. by 8.9% in the second quarter. Curbstone Financial Management Corp now owns 3,060 shares of the shipping service provider’s stock valued at $464,000 after buying an additional 250 shares during the period. Finally, Baxter Bros Inc. bought a new position in FedEx Corp. during the second quarter valued at $1,239,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.74% during trading on Wednesday, reaching $191.73. The company’s stock had a trading volume of 202,786 shares. The stock’s 50-day moving average is $178.12 and its 200-day moving average is $166.84. The stock has a market cap of $50.95 billion, a P/E ratio of 28.68 and a beta of 1.14. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $192.09.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. FedEx Corp.’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter last year, the firm posted $2.42 earnings per share. Equities research analysts anticipate that FedEx Corp. will post $12.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th will be given a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.84%. The ex-dividend date of this dividend is Thursday, December 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
FDX has been the topic of several recent analyst reports. Robert W. Baird reaffirmed an “outperform” rating and set a $185.00 price target on shares of FedEx Corp. in a research report on Friday, September 23rd. Vetr lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price target on the stock. in a research report on Tuesday, September 27th. Stifel Nicolaus lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $186.00 price target on the stock. in a research report on Tuesday, November 15th. They noted that the move was a valuation call. Deutsche Bank AG initiated coverage on FedEx Corp. in a research report on Wednesday, November 2nd. They set a “buy” rating and a $210.00 price target on the stock. Finally, Sanford C. Bernstein set a $159.00 price target on FedEx Corp. and gave the stock a “neutral” rating in a research report on Wednesday, September 21st. Twelve investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $179.22.
In other news, VP John L. Merino sold 10,280 shares of FedEx Corp. stock in a transaction on Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total value of $1,868,081.60. Following the completion of the transaction, the vice president now directly owns 29,722 shares in the company, valued at $5,401,081.84. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Henry J. Maier sold 5,213 shares of FedEx Corp. stock in a transaction on Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the transaction, the insider now owns 27,720 shares of the company’s stock, valued at $4,896,738. The disclosure for this sale can be found here. 8.67% of the stock is owned by 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.
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