FedEx Corporation (FDX) Position Raised by Stock Yards Bank & Trust Co.
Stock Yards Bank & Trust Co. increased its holdings in shares of FedEx Corporation (NYSE:FDX) by 9.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 58,210 shares of the shipping service provider’s stock after purchasing an additional 5,157 shares during the period. FedEx Corporation makes up about 1.5% of Stock Yards Bank & Trust Co.’s holdings, making the stock its 23rd biggest position. Stock Yards Bank & Trust Co.’s holdings in FedEx Corporation were worth $13,131,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Suffolk Capital Management LLC grew its stake in FedEx Corporation by 13.0% during the first quarter. Suffolk Capital Management LLC now owns 85,468 shares of the shipping service provider’s stock worth $16,679,000 after purchasing an additional 9,816 shares during the period. Traynor Capital Management Inc. grew its stake in FedEx Corporation by 17.0% during the first quarter. Traynor Capital Management Inc. now owns 2,957 shares of the shipping service provider’s stock worth $559,000 after purchasing an additional 430 shares during the period. Covington Investment Advisors Inc. grew its stake in FedEx Corporation by 0.7% during the first quarter. Covington Investment Advisors Inc. now owns 20,557 shares of the shipping service provider’s stock worth $4,012,000 after purchasing an additional 135 shares during the period. Chicago Partners Investment Group LLC grew its stake in FedEx Corporation by 30.0% in the first quarter. Chicago Partners Investment Group LLC now owns 1,299 shares of the shipping service provider’s stock valued at $253,000 after acquiring an additional 300 shares during the period. Finally, ZWJ Investment Counsel Inc. grew its stake in FedEx Corporation by 57.9% in the first quarter. ZWJ Investment Counsel Inc. now owns 7,420 shares of the shipping service provider’s stock valued at $1,448,000 after acquiring an additional 2,720 shares during the period. 76.07% of the stock is owned by institutional investors and hedge funds.
A number of brokerages have commented on FDX. Cowen and Company reissued an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research note on Friday, October 13th. Oppenheimer Holdings, Inc. reissued a “buy” rating and issued a $236.00 price objective on shares of FedEx Corporation in a research note on Friday, October 20th. J P Morgan Chase & Co raised their price objective on FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $247.00 price objective (up previously from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-three have given a buy rating to the stock. FedEx Corporation presently has a consensus rating of “Buy” and a consensus target price of $230.21.
In other news, insider Henry J. Maier sold 11,150 shares of FedEx Corporation stock in a transaction on Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the completion of the transaction, the insider now directly owns 36,747 shares in the company, valued at $8,395,219.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction on Thursday, September 21st. The shares were sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares of the company’s stock, valued at $6,709,780. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 40,094 shares of company stock worth $9,024,637. Corporate insiders own 8.45% of the company’s stock.
Shares of FedEx Corporation (FDX) opened at $217.25 on Tuesday. The stock has a market capitalization of $57,920.00, a price-to-earnings ratio of 18.14, a price-to-earnings-growth ratio of 1.36 and a beta of 1.37. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Corporation has a one year low of $182.89 and a one year high of $231.35.
FedEx Corporation (NYSE:FDX) last issued its 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 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 quarterly revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.90 earnings per share. equities research analysts predict that FedEx Corporation will post 12.47 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 2nd. Shareholders of record on Monday, December 11th will be paid a $0.50 dividend. The ex-dividend date is Friday, December 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.92%. FedEx Corporation’s payout ratio is presently 18.83%.
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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