Huntington National Bank Has $10,308,000 Position in FedEx Corp. (FDX)
Huntington National Bank reduced its position in shares of FedEx Corp. (NYSE:FDX) by 18.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 67,909 shares of the shipping service provider’s stock after selling 15,065 shares during the period. Huntington National Bank’s holdings in FedEx Corp. were worth $10,308,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Invictus RG acquired a new position in shares of FedEx Corp. during the first quarter worth approximately $161,000. Financial Architects Inc increased its position in shares of FedEx Corp. by 56.2% in the second quarter. Financial Architects Inc now owns 1,465 shares of the shipping service provider’s stock worth $222,000 after buying an additional 527 shares during the last quarter. Mercer Capital Advisers Inc. acquired a new position in shares of FedEx Corp. during the second quarter worth approximately $233,000. Atria Investments LLC acquired a new position in shares of FedEx Corp. during the second quarter worth approximately $241,000. Finally, Trust Department MB Financial Bank N A increased its position in shares of FedEx Corp. by 43.5% in the second quarter. Trust Department MB Financial Bank N A now owns 1,568 shares of the shipping service provider’s stock worth $267,000 after buying an additional 475 shares during the last quarter. 73.73% of the stock is owned by hedge funds and other institutional investors.
FedEx Corp. (NYSE:FDX) traded down 0.43% on Wednesday, reaching $173.33. 938,582 shares of the company were exchanged. The stock has a market capitalization of $46.06 billion, a price-to-earnings ratio of 25.92 and a beta of 1.28. The stock has a 50-day moving average price of $168.34 and a 200 day moving average price of $163.47. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $177.36.
FedEx Corp. (NYSE:FDX) last announced its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share 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 had revenue of $14.70 billion for the quarter. During the same period in the previous year, the company earned $2.42 earnings per share. FedEx Corp.’s quarterly revenue was up 19.5% on a year-over-year basis. Analysts forecast that FedEx Corp. will post $12.14 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Monday, October 3rd. Investors of record on Monday, September 12th were paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend was Thursday, September 8th. FedEx Corp.’s payout ratio is currently 23.99%.
Several analysts have issued reports on FDX shares. Cowen and Company reissued a “buy” rating and issued a $180.00 price objective on shares of FedEx Corp. in a research note on Saturday, June 18th. Stifel Nicolaus reissued a “buy” rating and issued a $179.00 price objective (up previously from $178.00) on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Oppenheimer Holdings Inc. raised their price objective on shares of FedEx Corp. from $180.00 to $184.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 21st. Vetr raised shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective for the company in a research note on Tuesday, August 2nd. Finally, Citigroup Inc. reissued a “buy” rating and issued a $200.00 price objective on shares of FedEx Corp. in a research note on Wednesday, June 22nd. Ten analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has assigned a strong buy rating to the company. FedEx Corp. has a consensus rating of “Buy” and a consensus price target of $176.59.
In other FedEx Corp. news, CEO Michael L. Ducker sold 5,000 shares of the stock in a transaction that occurred on Friday, July 22nd. The shares were sold at an average price of $158.43, for a total value of $792,150.00. Following the sale, the chief executive officer now directly owns 56,265 shares of the company’s stock, valued at approximately $8,914,063.95. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO David J. Bronczek sold 32,669 shares of the stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total transaction of $5,759,544.70. Following the completion of the sale, the chief executive officer now directly owns 85,356 shares in the company, valued at $15,048,262.80. 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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