F&V Capital Management LLC Increases Position in FedEx Corp. (FDX)
F&V Capital Management LLC boosted its position in shares of FedEx Corp. (NYSE:FDX) by 1.7% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 36,660 shares of the shipping service provider’s stock after buying an additional 610 shares during the period. FedEx Corp. makes up about 4.4% of F&V Capital Management LLC’s holdings, making the stock its 7th largest position. F&V Capital Management LLC’s holdings in FedEx Corp. were worth $6,404,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in FDX. First Personal Financial Services increased its stake in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the period. Glassman Wealth Services increased its stake in shares of FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in shares of FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the period. HBK Sorce Advisory LLC bought a new stake in shares of FedEx Corp. during the second quarter worth about $202,000. Finally, Park National Corp OH bought a new stake in shares of FedEx Corp. during the third quarter worth about $204,000. 74.63% of the stock is owned by institutional investors.
Shares of FedEx Corp. (NYSE:FDX) opened at 187.29 on Friday. The firm has a market cap of $49.77 billion, a PE ratio of 28.01 and a beta of 1.14. The stock has a 50 day moving average price of $174.41 and a 200-day moving average price of $165.10. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $187.33.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.81 by $0.09. The firm earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The company’s revenue for the quarter was up 19.5% on a year-over-year basis. During the same period in the prior year, the company earned $2.42 earnings per share. On average, equities analysts anticipate that FedEx Corp. will post $12.16 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be issued a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.85%. FedEx Corp.’s dividend payout ratio is currently 23.99%.
FDX has been the topic of a number of recent research reports. Vetr downgraded FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 price objective on the stock. in a research report on Monday, August 8th. Stifel Nicolaus upped their price objective on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research report on Wednesday, September 21st. Barclays PLC restated a “buy” rating and set a $205.00 price objective on shares of FedEx Corp. in a research report on Monday, September 19th. Citigroup Inc. restated a “buy” rating on shares of FedEx Corp. in a research report on Thursday, September 22nd. Finally, Deutsche Bank AG initiated coverage on FedEx Corp. in a research report on Wednesday, November 2nd. They set a “buy” rating and a $210.00 price objective on the stock. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $178.08.
In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of the stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $176.65, for a total value of $920,876.45. Following the completion of the transaction, the insider now directly owns 27,720 shares of the company’s stock, valued at $4,896,738. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP John L. Merino sold 10,280 shares of the stock in a transaction dated Tuesday, November 8th. The shares were sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the completion of the transaction, the vice president now directly owns 29,722 shares of the company’s stock, valued at $5,401,081.84. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
FedEx Corp. 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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