FedEx Corporation (FDX) Holdings Cut by Sigma Planning Corp
Sigma Planning Corp lowered its stake in shares of FedEx Corporation (NYSE:FDX) by 5.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 3,477 shares of the shipping service provider’s stock after selling 206 shares during the quarter. Sigma Planning Corp’s holdings in FedEx Corporation were worth $756,000 at the end of the most recent quarter.
A number of other institutional investors also recently made changes to their positions in the business. Traynor Capital Management Inc. boosted its position in FedEx Corporation by 18.7% during the second quarter. Traynor Capital Management Inc. now owns 3,511 shares of the shipping service provider’s stock worth $728,000 after purchasing an additional 554 shares during the period. Rhumbline Advisers boosted its position in FedEx Corporation by 1.1% during the second quarter. Rhumbline Advisers now owns 419,167 shares of the shipping service provider’s stock worth $91,098,000 after purchasing an additional 4,668 shares during the period. Arizona State Retirement System boosted its position in FedEx Corporation by 0.5% during the second quarter. Arizona State Retirement System now owns 61,039 shares of the shipping service provider’s stock worth $13,266,000 after purchasing an additional 300 shares during the period. Summit Securities Group LLC bought a new stake in FedEx Corporation during the second quarter worth approximately $261,000. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in FedEx Corporation by 23.1% during the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,028 shares of the shipping service provider’s stock worth $441,000 after purchasing an additional 381 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.
FedEx Corporation (FDX) opened at 220.00 on Friday. The firm has a market capitalization of $58.99 billion, a price-to-earnings ratio of 20.74 and a beta of 1.28. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $220.95. The firm’s 50-day moving average price is $210.17 and its 200 day moving average price is $202.36.
FedEx Corporation (NYSE:FDX) last released its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion for 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 was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.90 earnings per share. On average, analysts predict that FedEx Corporation will post $12.78 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Stockholders of record on Monday, September 11th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is 18.87%.
In other news, Director John A. Edwardson sold 2,208 shares of the company’s stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Kim Jabal sold 609 shares of the company’s stock in a transaction on Thursday, June 29th. The shares were 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 of the company’s stock, valued at $453,873. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
FDX has been the subject of a number of recent analyst reports. Zacks Investment Research cut FedEx Corporation from a “buy” rating to a “hold” rating in a research report on Thursday, June 1st. Vetr cut FedEx Corporation from a “hold” rating to a “sell” rating and set a $190.34 target price for the company. in a research report on Thursday, June 1st. ValuEngine raised FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Seaport Global Securities initiated coverage on FedEx Corporation in a research report on Tuesday, June 6th. They set a “neutral” rating for the company. Finally, Stifel Nicolaus upped their target price on FedEx Corporation from $194.00 to $216.00 and gave the stock a “hold” rating in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $225.26.
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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