11,777 Shares in FedEx Corporation (FDX) Purchased by Engineers Gate Manager LP
Engineers Gate Manager LP purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 11,777 shares of the shipping service provider’s stock, valued at approximately $2,559,000.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its holdings 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 during the last quarter. Cribstone Capital Management LLC boosted its holdings 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 during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of FedEx Corporation during the 1st quarter valued at about $100,000. Alexandria Capital LLC boosted its holdings 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 during the last quarter. Finally, Hefty Wealth Partners boosted its holdings in shares of FedEx Corporation by 26.0% during the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the last quarter. 75.88% of the stock is currently owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE FDX) opened at 221.35 on Tuesday. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $227.00. The stock’s 50 day moving average is $217.90 and its 200 day moving average is $206.26. The company has a market cap of $59.35 billion, a PE ratio of 20.87 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter last year, the business earned $2.90 EPS. The company’s quarterly revenue was up 4.1% on a year-over-year basis. Equities analysts forecast that FedEx Corporation will post $12.47 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.90%. FedEx Corporation’s dividend payout ratio (DPR) is 18.87%.
In other news, Director John A. Edwardson sold 2,208 shares of the stock in a transaction that occurred 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 transaction, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares in the company, valued at approximately $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 worth $6,039,193 in the last quarter. Insiders own 8.45% of the company’s stock.
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A number of analysts have recently issued reports on the stock. UBS AG reaffirmed a “buy” rating and set a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Cowen and Company reaffirmed a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Thursday, August 10th. Zacks Investment Research downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Monday. J P Morgan Chase & Co raised their price target on shares of FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $229.00 price target on shares of FedEx Corporation in a report on Wednesday, September 20th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus price target of $228.26.
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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