Adirondack Trust Co. Reduces Position in FedEx Corporation (FDX)
Adirondack Trust Co. reduced its position in shares of FedEx Corporation (NYSE:FDX) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 612 shares of the shipping service provider’s stock after selling 50 shares during the period. Adirondack Trust Co.’s holdings in FedEx Corporation were worth $133,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of FDX. FNY Managed Accounts LLC acquired a new stake in shares of FedEx Corporation during the 1st quarter valued at approximately $100,000. Riggs Asset Managment Co. Inc. raised its position in shares of FedEx Corporation by 163.0% during the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after acquiring an additional 300 shares in the last quarter. Cribstone Capital Management LLC raised its position in shares of FedEx Corporation by 1.2% during the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares in the last quarter. Alexandria Capital LLC raised its position in shares of FedEx Corporation by 2.5% during the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares in the last quarter. Finally, Brick & Kyle Associates raised its position in shares of FedEx Corporation by 1.5% during the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after acquiring an additional 10 shares in the last quarter. 75.84% of the stock is currently owned by institutional investors and hedge funds.
Several research firms recently issued reports on FDX. UBS AG reissued a “buy” rating and set a $235.00 price target (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Stephens set a $246.00 price target on FedEx Corporation and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday, August 16th. Loop Capital reissued a “buy” rating and set a $260.00 price target (up from $250.00) on shares of FedEx Corporation in a research report on Wednesday. Finally, Wells Fargo & Company upped their price target on FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $225.26.
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In related news, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now owns 30,608 shares in the company, valued at $6,370,749.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of the company’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $216.13, for a total value of $131,623.17. Following the sale, the director now owns 2,100 shares in the company, valued at approximately $453,873. The disclosure for this sale can be found here. Insiders own 8.45% of the company’s stock.
Shares of FedEx Corporation (FDX) opened at 220.00 on Friday. The stock has a 50 day moving average price of $210.17 and a 200 day moving average price of $202.36. The firm has a market cap of $59.02 billion, a price-to-earnings ratio of 19.87 and a beta of 1.28. FedEx Corporation has a one year low of $168.00 and a one year high of $220.95. FedEx Corporation also saw some unusual options trading on Wednesday. Stock investors bought 15,812 put options on the company. This represents an increase of 524% compared to the typical daily volume of 2,532 put options.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The firm had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 earnings per share. On average, equities research analysts forecast that FedEx Corporation will post $12.78 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. FedEx Corporation’s dividend payout ratio (DPR) is 18.87%.
FedEx Corporation 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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