FedEx Corp. (FDX) Shares Bought by Grandfield & Dodd LLC
Grandfield & Dodd LLC increased its stake in FedEx Corp. (NYSE:FDX) by 5.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 78,590 shares of the shipping service provider’s stock after buying an additional 3,733 shares during the period. FedEx Corp. makes up 1.7% of Grandfield & Dodd LLC’s portfolio, making the stock its 24th largest position. Grandfield & Dodd LLC’s holdings in FedEx Corp. were worth $11,929,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Wellington Management Group LLP increased its position in FedEx Corp. by 50.9% in the first quarter. Wellington Management Group LLP now owns 8,540,880 shares of the shipping service provider’s stock valued at $1,389,772,000 after buying an additional 2,881,893 shares during the period. Primecap Management Co. CA increased its stake in FedEx Corp. by 9.3% in the first quarter. Primecap Management Co. CA now owns 16,116,764 shares of the shipping service provider’s stock worth $2,622,520,000 after buying an additional 1,371,175 shares during the last quarter. Bank of Montreal Can acquired a new stake in FedEx Corp. during the second quarter worth approximately $98,813,000. Southpoint Capital Advisors LP acquired a new stake in FedEx Corp. during the first quarter worth approximately $90,607,000. Finally, Prudential Financial Inc. increased its stake in FedEx Corp. by 30.3% in the first quarter. Prudential Financial Inc. now owns 1,194,772 shares of the shipping service provider’s stock worth $194,414,000 after buying an additional 277,960 shares during the last quarter. Hedge funds and other institutional investors own 73.72% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded down 0.40% during midday trading on Tuesday, reaching $173.60. 1,492,342 shares of the company traded hands. The firm has a market capitalization of $46.14 billion, a P/E ratio of 25.96 and a beta of 1.28. FedEx Corp. has a 12 month low of $119.71 and a 12 month high of $177.36. The company has a 50 day moving average of $167.23 and a 200 day moving average of $163.02.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the consensus estimate of $2.81 by $0.09. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The firm earned $14.70 billion during the quarter. During the same period last year, the company posted $2.42 EPS. The business’s revenue for the quarter was up 19.5% on a year-over-year basis. On average, equities research analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were given a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date was Thursday, September 8th. FedEx Corp.’s dividend payout ratio (DPR) is 23.99%.
A number of research firms have commented on FDX. Vetr downgraded shares of FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price objective for the company. in a report on Tuesday, September 27th. Robert W. Baird reiterated an “outperform” rating and issued a $185.00 price objective on shares of FedEx Corp. in a report on Friday, September 23rd. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a report on Thursday, September 22nd. Zacks Investment Research upgraded shares of FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Barclays PLC reiterated a “top pick” rating on shares of FedEx Corp. in a report on Wednesday, September 21st. Ten equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $176.59.
In related news, CEO Michael L. Ducker sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total transaction of $792,150.00. Following the completion of the transaction, the chief executive officer now owns 56,265 shares of the company’s stock, valued at $8,914,063.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Alan B. Graf, Jr. sold 7,400 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $159.43, for a total transaction of $1,179,782.00. Following the transaction, the executive vice president now directly owns 150,665 shares of the company’s stock, valued at approximately $24,020,520.95. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
About FedEx Corp.
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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