Washington Trust Bank Has $6.17 Million Position in FedEx Corporation (NYSE:FDX)
Washington Trust Bank increased its position in shares of FedEx Corporation (NYSE:FDX) by 0.9% during the second quarter, Holdings Channel reports. The institutional investor owned 28,374 shares of the shipping service provider’s stock after buying an additional 264 shares during the period. FedEx Corporation makes up 1.3% of Washington Trust Bank’s holdings, making the stock its 11th largest position. Washington Trust Bank’s holdings in FedEx Corporation were worth $6,167,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. Riggs Asset Managment Co. Inc. increased its position in shares of FedEx Corporation by 163.0% in the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares in the last quarter. Cribstone Capital Management LLC increased its position in shares of FedEx Corporation by 1.2% in the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of FedEx Corporation during the first quarter valued at approximately $100,000. Alexandria Capital LLC increased its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares in the last quarter. Finally, Pinnacle Bank acquired a new position in shares of FedEx Corporation during the first quarter valued at approximately $122,000. Hedge funds and other institutional investors own 76.36% of the company’s stock.
FedEx Corporation (NYSE FDX) traded up 0.26% on Tuesday, reaching $208.92. The company had a trading volume of 402,776 shares. The firm has a market capitalization of $56.04 billion, a price-to-earnings ratio of 18.87 and a beta of 1.27. The company’s 50 day moving average is $213.53 and its 200-day moving average is $197.66. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business’s revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm posted $3.30 EPS. On average, equities research analysts expect that FedEx Corporation will post $13.58 earnings per share for the current fiscal year.
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Several analysts recently weighed in on the company. Cowen and Company reissued a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reissued a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a report on Tuesday, July 4th. Sanford C. Bernstein reissued a “market perform” rating and set a $220.00 price target on shares of FedEx Corporation in a report on Monday, July 3rd. Vetr cut FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price target for the company. in a report on Monday, June 26th. Finally, BMO Capital Markets lifted their price target on FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average price target of $221.78.
In other news, EVP Robert B. Carter sold 24,522 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the transaction, the executive vice president now directly owns 68,556 shares in the company, valued at $14,462,573.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the transaction, the chief executive officer now owns 29,148 shares of the company’s stock, valued at $6,150,228. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,757 shares of company stock worth $16,447,426. Insiders own 8.67% of the company’s stock.
About FedEx Corporation
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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