Grandfield & Dodd LLC trimmed its position in FedEx Corporation (NYSE:FDX) by 1.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,878 shares of the shipping service provider’s stock after selling 940 shares during the period. FedEx Corporation comprises 2.1% of Grandfield & Dodd LLC’s portfolio, making the stock its 12th biggest holding. Grandfield & Dodd LLC’s holdings in FedEx Corporation were worth $17,795,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the business. K.J. Harrison & Partners Inc purchased a new position in shares of FedEx Corporation during the 1st quarter valued at about $390,000. Kanawha Capital Management LLC purchased a new position in shares of FedEx Corporation during the 1st quarter valued at about $201,000. New Jersey Better Educational Savings Trust lifted its position in shares of FedEx Corporation by 16.7% during the 1st quarter. New Jersey Better Educational Savings Trust now owns 3,500 shares of the shipping service provider’s stock valued at $683,000 after buying an additional 500 shares in the last quarter. Parsec Financial Management Inc. lifted its position in shares of FedEx Corporation by 30.3% during the 1st quarter. Parsec Financial Management Inc. now owns 19,740 shares of the shipping service provider’s stock valued at $3,852,000 after buying an additional 4,593 shares in the last quarter. Finally, David R. Rahn & Associates Inc. lifted its position in shares of FedEx Corporation by 1.6% during the 1st quarter. David R. Rahn & Associates Inc. now owns 6,560 shares of the shipping service provider’s stock valued at $1,280,000 after buying an additional 105 shares in the last quarter. 75.86% of the stock is currently owned by institutional investors and hedge funds.
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Shares of FedEx Corporation (FDX) opened at 210.48 on Monday. FedEx Corporation has a one year low of $158.20 and a one year high of $219.99. The stock has a market capitalization of $56.46 billion, a PE ratio of 19.01 and a beta of 1.28. The firm has a 50 day moving average price of $209.41 and a 200 day moving average price of $201.21.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. During the same period in the previous year, the firm posted $3.30 earnings per share. The company’s revenue was up 21.0% on a year-over-year basis. Analysts predict that FedEx Corporation will post $13.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.50 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.95%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.
A number of research firms have recently weighed in on FDX. Vetr raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective on the stock in a research report on Wednesday, May 17th. UBS AG reaffirmed a “buy” rating and set a $235.00 price objective (up from $215.00) on shares of FedEx Corporation in a research report on Wednesday, June 21st. Stephens set a $246.00 price objective on FedEx Corporation and gave the company an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday, August 16th. Finally, Seaport Global Securities began coverage on FedEx Corporation in a research report on Tuesday, June 6th. They set a “neutral” rating on the stock. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx Corporation currently has a consensus rating of “Buy” and an average price target of $221.72.
In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 609 shares of FedEx Corporation 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 completion of the transaction, 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. Over the last quarter, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.45% of the stock is currently owned by company insiders.
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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