Mitsubishi UFJ Trust & Banking Corp decreased its stake in shares of FedEx Corporation (NYSE:FDX) by 3.1% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 537,068 shares of the shipping service provider’s stock after selling 17,031 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned approximately 0.20% of FedEx Corporation worth $104,809,000 at the end of the most recent quarter.
A number of other institutional investors also recently bought and sold shares of FDX. Alexandria Capital LLC raised its stake in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares during the last quarter. Pinnacle Bank acquired a new stake in FedEx Corporation during the first quarter valued at approximately $122,000. Adirondack Trust Co. raised its stake in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the last quarter. Brick & Kyle Associates raised its stake in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares during the last quarter. Finally, Ancora Advisors LLC acquired a new stake in FedEx Corporation during the fourth quarter valued at approximately $157,000. Institutional investors and hedge funds own 76.25% of the company’s stock.
Shares of FedEx Corporation (FDX) traded up 0.24% during mid-day trading on Friday, reaching $208.04. The company had a trading volume of 1,076,359 shares. The company has a market capitalization of $55.81 billion, a PE ratio of 18.79 and a beta of 1.28. The stock’s 50-day moving average price is $213.55 and its 200 day moving average price is $197.24. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.
FedEx Corporation (NYSE:FDX) last announced its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to analyst estimates of $15.56 billion. During the same period in the previous year, the company earned $3.30 earnings per share. The company’s revenue for the quarter was up 21.0% compared to the same quarter last year. Equities analysts expect that FedEx Corporation will post $13.60 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd were given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. This is a positive change from FedEx Corporation’s previous quarterly dividend of $0.40. The ex-dividend date of this dividend was Tuesday, June 20th. FedEx Corporation’s payout ratio is presently 18.08%.
Several equities research analysts have recently commented on the stock. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. BMO Capital Markets increased their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a report on Friday, June 23rd. CIBC increased their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. J P Morgan Chase & Co reissued an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a report on Wednesday, June 21st. Finally, Vetr upgraded FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 price target for the company in a research note on Tuesday, June 20th. Six investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $221.78.
In other news, Director Kim Jabal sold 609 shares of the company’s stock in a transaction that occurred on Thursday, June 29th. The stock was sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at $453,873. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Frederick W. Smith sold 135,000 shares of the company’s stock in a transaction that occurred on Tuesday, May 2nd. The shares were sold at an average price of $189.02, for a total value of $25,517,700.00. Following the transaction, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The disclosure for this sale can be found here. Over the last three months, insiders sold 210,549 shares of company stock valued at $41,505,553. 8.67% 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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