CENTRAL TRUST Co increased its stake in shares of FedEx Corporation (NYSE:FDX) by 4.0% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 10,055 shares of the shipping service provider’s stock after buying an additional 386 shares during the period. CENTRAL TRUST Co’s holdings in FedEx Corporation were worth $2,186,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after buying an additional 918,896 shares in the last quarter. BlackRock Inc. boosted its holdings in FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after buying an additional 14,086,601 shares in the last quarter. Jennison Associates LLC boosted its holdings in FedEx Corporation by 5.4% during the first quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock worth $669,359,000 after buying an additional 175,777 shares in the last quarter. Geode Capital Management LLC boosted its holdings in FedEx Corporation by 8.4% during the first quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after buying an additional 173,544 shares in the last quarter. Finally, TIAA CREF Investment Management LLC boosted its holdings in FedEx Corporation by 28.8% during the first quarter. TIAA CREF Investment Management LLC now owns 1,396,492 shares of the shipping service provider’s stock worth $272,525,000 after buying an additional 312,272 shares in the last quarter. 75.86% of the stock is currently owned by hedge funds and other institutional investors.
In related news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total transaction of $5,173,161.12. Following the completion of the sale, the executive vice president now directly owns 68,556 shares in the company, valued at $14,462,573.76. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kim Jabal sold 5,918 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the sale, the director now owns 3,610 shares of the company’s stock, valued at $779,940.50. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.45% of the stock is currently owned by corporate insiders.
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Shares of FedEx Corporation (NYSE FDX) traded up 1.85% during trading on Tuesday, reaching $216.33. 781,303 shares of the company traded hands. The firm has a 50-day moving average price of $209.32 and a 200-day moving average price of $201.38. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99. The firm has a market capitalization of $58.03 billion, a PE ratio of 19.54 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to analysts’ expectations of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. During the same period last year, the company posted $3.30 earnings per share. Equities research analysts anticipate that FedEx Corporation will post $13.53 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.
A number of analysts recently commented on the stock. BMO Capital Markets reissued a “buy” rating and set a $245.00 price objective on shares of FedEx Corporation in a report on Wednesday, September 6th. Vetr downgraded shares of FedEx Corporation to a “sell” rating and set a $204.84 price objective on the stock. in a report on Thursday, August 31st. Zacks Investment Research downgraded shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Finally, Cowen and Company reissued a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a report on Thursday, August 10th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $221.72.
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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