LSV Asset Management Sells 41,411 Shares of FedEx Corporation (FDX)
LSV Asset Management reduced its holdings in FedEx Corporation (NYSE:FDX) by 2.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 1,890,000 shares of the shipping service provider’s stock after selling 41,411 shares during the quarter. FedEx Corporation makes up 0.7% of LSV Asset Management’s portfolio, making the stock its 23rd biggest position. LSV Asset Management owned approximately 0.70% of FedEx Corporation worth $410,753,000 as of its most recent SEC filing.
Several other institutional investors have also bought and sold shares of the company. Cribstone Capital Management LLC lifted its position in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares during the last quarter. Guardian Life Insurance Co. of America lifted its position in shares of FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock worth $184,000 after buying an additional 9 shares during the last quarter. Park National Corp OH lifted its position in shares of FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock worth $256,000 after buying an additional 10 shares during the last quarter. Argent Trust Co lifted its position in shares of FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock worth $882,000 after buying an additional 12 shares during the last quarter. Finally, Alexandria Capital LLC lifted its position in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the last quarter. Institutional investors own 75.88% of the company’s stock.
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A number of research analysts have recently issued reports on the stock. Cowen and Company restated an “outperform” rating and issued a $240.00 price target on shares of FedEx Corporation in a research report on Friday. J P Morgan Chase & Co raised their price target on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a research report on Thursday. Bank of America Corporation restated a “buy” rating and issued a $247.00 price target (up from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. KeyCorp assumed coverage on shares of FedEx Corporation in a research report on Tuesday, October 10th. They issued an “overweight” rating and a $260.00 price target on the stock. Finally, Zacks Investment Research downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, October 10th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the stock. FedEx Corporation has a consensus rating of “Buy” and a consensus target price of $228.26.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’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 completion of the sale, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the sale, the chief executive officer now directly owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Insiders have sold a total of 27,172 shares of company stock valued at $6,039,193 over the last three months. Company insiders own 8.45% of the company’s stock.
FedEx Corporation (NYSE FDX) opened at 222.22 on Monday. The firm has a market cap of $59.59 billion, a PE ratio of 20.95 and a beta of 1.31. The stock has a 50 day moving average of $217.90 and a 200 day moving average of $206.26. FedEx Corporation has a 52 week low of $168.00 and a 52 week high of $227.00.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $2.90 EPS. Analysts anticipate that FedEx Corporation will post $12.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were issued a dividend of $0.50 per share. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.90%. FedEx Corporation’s dividend payout ratio is currently 18.87%.
FedEx Corporation 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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