Trust Investment Advisors boosted its holdings in FedEx Corporation (NYSE:FDX) by 1.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,125 shares of the shipping service provider’s stock after acquiring an additional 100 shares during the period. FedEx Corporation accounts for about 1.4% of Trust Investment Advisors’ investment portfolio, making the stock its 25th largest position. Trust Investment Advisors’ holdings in FedEx Corporation were worth $1,331,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Northwestern Mutual Wealth Management Co. lifted its holdings in FedEx Corporation by 2.7% in 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 purchasing an additional 1,852 shares in the last quarter. Handelsbanken Fonder AB purchased a new position in FedEx Corporation in the 2nd quarter valued at about $435,000. Janney Montgomery Scott LLC lifted its holdings in FedEx Corporation by 1.3% in 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 purchasing an additional 707 shares in the last quarter. Harbour Capital Advisors LLC lifted its holdings in FedEx Corporation by 21,011.5% in 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 purchasing an additional 1,418,066 shares in the last quarter. Finally, Madison Investment Holdings Inc. lifted its holdings in FedEx Corporation by 63.6% in the 1st quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock valued at $35,371,000 after purchasing an additional 70,436 shares in the last quarter. 75.86% of the stock is currently owned by hedge funds and other institutional investors.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction that occurred 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 transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the transaction, the vice president now directly owns 33,908 shares in the company, valued at $7,163,404.08. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 77,757 shares of company stock worth $16,447,426. Company insiders own 8.45% of the company’s stock.
A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets upped their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday, August 16th. Citigroup Inc. restated a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a report on Thursday. Finally, CIBC upped their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $223.85.
Shares of FedEx Corporation (NYSE:FDX) opened at 214.83 on Friday. The firm has a market cap of $57.63 billion, a P/E ratio of 19.41 and a beta of 1.28. FedEx Corporation has a 12 month low of $159.55 and a 12 month high of $219.99. The firm has a 50-day moving average of $209.74 and a 200 day moving average of $201.96.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 EPS. On average, equities research analysts anticipate that FedEx Corporation will post $13.48 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.
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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