Comerica Securities Inc. Has $652,000 Position in FedEx Corporation (FDX)
Comerica Securities Inc. reduced its stake in shares of FedEx Corporation (NYSE:FDX) by 7.4% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 2,992 shares of the shipping service provider’s stock after selling 240 shares during the quarter. Comerica Securities Inc.’s holdings in FedEx Corporation were worth $652,000 as of its most recent filing with the SEC.
Other large investors also recently made changes to their positions in the company. Strategic Advisors LLC raised its holdings in shares of FedEx Corporation by 16.7% during the 2nd quarter. Strategic Advisors LLC now owns 2,138 shares of the shipping service provider’s stock valued at $465,000 after buying an additional 306 shares during the period. Handelsbanken Fonder AB purchased a new stake in shares of FedEx Corporation during the 2nd quarter valued at about $435,000. Janney Montgomery Scott LLC raised its holdings in shares of FedEx Corporation by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock valued at $11,584,000 after buying an additional 707 shares during the period. Northwestern Mutual Wealth Management Co. raised its holdings in shares of FedEx Corporation by 2.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock valued at $13,641,000 after buying an additional 1,852 shares during the period. Finally, Harbour Capital Advisors LLC raised its holdings in shares of FedEx Corporation by 21,011.5% during the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock valued at $6,556,000 after buying an additional 1,418,066 shares during the period. Institutional investors and hedge funds own 76.04% of the company’s stock.
Several equities research analysts recently commented on the company. Oppenheimer Holdings, Inc. reiterated a “buy” rating and set a $236.00 target price on shares of FedEx Corporation in a report on Friday. Zacks Investment Research downgraded FedEx Corporation from a “hold” rating to a “sell” rating in a report on Monday, October 16th. Cowen and Company reiterated an “outperform” rating and set a $240.00 target price on shares of FedEx Corporation in a report on Friday, October 13th. J P Morgan Chase & Co raised their target price on FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a report on Thursday, October 12th. Finally, KeyCorp initiated coverage on FedEx Corporation in a report on Tuesday, October 10th. They set an “overweight” rating and a $260.00 target price on the stock. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. FedEx Corporation presently has a consensus rating of “Buy” and a consensus price target of $228.56.
FedEx Corporation (NYSE FDX) opened at 225.34 on Tuesday. The firm has a market cap of $60.42 billion, a price-to-earnings ratio of 21.24 and a beta of 1.31. The company’s 50-day moving average price is $219.53 and its 200-day moving average price is $207.46. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $227.00.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the company earned $2.90 earnings per share. Analysts predict that FedEx Corporation will post $12.46 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
In related news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the stock in a transaction that occurred on 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 owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,172 shares of company stock worth $6,039,193. 8.45% of the stock is owned by corporate insiders.
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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