Greenleaf Trust Has $321,000 Position in FedEx Corporation (FDX)
Greenleaf Trust cut its stake in shares of FedEx Corporation (NYSE:FDX) by 28.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,477 shares of the shipping service provider’s stock after selling 597 shares during the period. Greenleaf Trust’s holdings in FedEx Corporation were worth $321,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of FDX. Cohen Capital Management Inc. purchased a new stake in shares of FedEx Corporation during the first quarter valued at $185,000. Vicus Capital increased its stake in shares of FedEx Corporation by 26.2% in the first quarter. Vicus Capital now owns 1,851 shares of the shipping service provider’s stock valued at $361,000 after buying an additional 384 shares during the last quarter. Farmers & Merchants Investments Inc. increased its stake in shares of FedEx Corporation by 16.8% in the first quarter. Farmers & Merchants Investments Inc. now owns 21,500 shares of the shipping service provider’s stock valued at $4,196,000 after buying an additional 3,092 shares during the last quarter. Donald L. Hagan LLC increased its stake in shares of FedEx Corporation by 8.7% in the first quarter. Donald L. Hagan LLC now owns 6,828 shares of the shipping service provider’s stock valued at $1,332,000 after buying an additional 548 shares during the last quarter. Finally, Beese Fulmer Investment Management Inc. increased its stake in shares of FedEx Corporation by 0.6% in the first quarter. Beese Fulmer Investment Management Inc. now owns 1,327 shares of the shipping service provider’s stock valued at $259,000 after buying an additional 8 shares during the last quarter. 76.00% of the stock is currently owned by institutional investors and hedge funds.
FedEx Corporation (FDX) traded up 0.76% during midday trading on Friday, reaching $206.94. 530,789 shares of the company’s stock traded hands. The company’s 50-day moving average price is $211.96 and its 200 day moving average price is $199.04. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The stock has a market capitalization of $55.51 billion, a price-to-earnings ratio of 18.69 and a beta of 1.27.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter last year, the firm earned $3.30 earnings per share. On average, equities research analysts expect that FedEx Corporation will post $13.56 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.97%. FedEx Corporation’s payout ratio is presently 18.08%.
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Several analysts have recently weighed in on the stock. Cowen and Company reaffirmed a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a report on Tuesday, July 11th. Loop Capital reiterated a “buy” rating and issued a $234.00 price objective on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein reiterated a “market perform” rating and issued a $220.00 price objective on shares of FedEx Corporation in a research note on Monday, July 3rd. Vetr cut shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price objective for the company. in a research note on Monday, June 26th. Finally, BMO Capital Markets raised their price objective on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $221.78.
In related news, 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 transaction, the chief executive officer now owns 29,148 shares of the company’s stock, valued at $6,150,228. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Kim Jabal sold 5,918 shares of the firm’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the transaction, the director now directly owns 3,610 shares in the company, valued at approximately $779,940.50. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 77,757 shares of company stock worth $16,447,426. Insiders own 8.67% of the company’s stock.
FedEx Corporation 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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