Todd Asset Management LLC Boosts Position in FedEx Corporation (FDX)
Todd Asset Management LLC raised its position in shares of FedEx Corporation (NYSE:FDX) by 95.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 90,557 shares of the shipping service provider’s stock after buying an additional 44,160 shares during the period. Todd Asset Management LLC’s holdings in FedEx Corporation were worth $17,672,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Dodge & Cox acquired a new stake in shares of FedEx Corporation during the fourth quarter worth $2,151,429,000. Jennison Associates LLC raised its stake in shares of FedEx Corporation by 5.4% in the first quarter. Jennison Associates LLC now owns 3,429,971 shares of the shipping service provider’s stock worth $669,359,000 after buying an additional 175,777 shares in the last quarter. Norges Bank acquired a new stake in shares of FedEx Corporation during the fourth quarter worth $319,718,000. Bank of Montreal Can raised its stake in shares of FedEx Corporation by 16.0% in the first quarter. Bank of Montreal Can now owns 1,006,806 shares of the shipping service provider’s stock worth $196,478,000 after buying an additional 138,799 shares in the last quarter. Finally, Swiss National Bank raised its stake in shares of FedEx Corporation by 26.8% in the first quarter. Swiss National Bank now owns 894,468 shares of the shipping service provider’s stock worth $174,555,000 after buying an additional 189,100 shares in the last quarter. 76.49% of the stock is currently owned by institutional investors.
FedEx Corporation (FDX) traded down 0.07% during trading on Thursday, reaching $209.36. 1,091,014 shares of the company’s stock were exchanged. The company has a market capitalization of $56.16 billion, a PE ratio of 18.91 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The company’s 50-day moving average is $213.53 and its 200-day moving average is $197.66.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company had revenue of $15.70 billion for the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the company posted $3.30 EPS. The firm’s quarterly revenue was up 21.0% compared to the same quarter last year. Equities research analysts expect that FedEx Corporation will post $13.60 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Stockholders of record on Thursday, June 22nd were paid a $0.50 dividend. This is an increase from FedEx Corporation’s previous quarterly dividend of $0.40. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date was Tuesday, June 20th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.
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Several equities research analysts have recently commented on FDX shares. Bank of America Corporation reissued a “buy” rating and set a $240.00 price target (up previously from $230.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a research note on Wednesday, June 21st. Zacks Investment Research raised FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target on the stock in a research note on Friday, June 2nd. Loop Capital reissued a “buy” rating and set a $234.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 4th. Finally, UBS AG reissued a “buy” rating and set a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a research note on Wednesday, June 21st. Six analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company. The company currently has an average rating of “Buy” and an average price target of $221.78.
In other news, EVP Robert B. Carter sold 24,522 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $210.96, for a total value of $5,173,161.12. Following the sale, the executive vice president now directly owns 68,556 shares in the company, valued at approximately $14,462,573.76. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the firm’s stock in a transaction that occurred on Thursday, June 22nd. The shares were sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the completion of the transaction, the chief executive officer now owns 29,148 shares of the company’s stock, valued at approximately $6,150,228. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,757 shares of company stock worth $16,447,426. 8.67% of the stock is currently owned by corporate insiders.
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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