MV Capital Management Inc. held its position in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,025 shares of the shipping service provider’s stock at the end of the 2nd quarter. MV Capital Management Inc.’s holdings in FedEx Corporation were worth $223,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Handelsbanken Fonder AB acquired a new stake in shares of FedEx Corporation in the 2nd quarter valued at $435,000. Janney Montgomery Scott LLC boosted its stake in shares of 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. Northwestern Mutual Wealth Management Co. boosted its stake in shares of 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. Harbour Capital Advisors LLC boosted its stake in shares of 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. boosted its stake in shares of 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. Hedge funds and other institutional investors own 75.84% of the company’s stock.
Shares of FedEx Corporation (FDX) opened at 215.08 on Tuesday. The company has a market capitalization of $57.70 billion, a PE ratio of 19.43 and a beta of 1.28. FedEx Corporation has a 52 week low of $161.65 and a 52 week high of $219.99. The stock has a 50 day moving average price of $209.94 and a 200-day moving average price of $202.20.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping the Zacks’ consensus estimate of $3.88 by $0.37. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the firm earned $3.30 earnings per share. Equities research analysts expect that FedEx Corporation will post $13.43 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, September 8th. FedEx Corporation’s dividend payout ratio is currently 18.08%.
In related news, 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 transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, 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 completion of the transaction, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. 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. 8.45% of the stock is owned by insiders.
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Several brokerages have recently commented on FDX. UBS AG restated a “buy” rating and issued a $235.00 target price (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Cowen and Company restated a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a research note on Thursday, August 10th. Citigroup Inc. restated a “buy” rating and issued a $235.00 target price on shares of FedEx Corporation in a research note on Thursday, September 14th. BidaskClub downgraded shares of FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research note on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $223.85.
About FedEx Corporation
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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