Municipal Employees Retirement System of Michigan Has $2,196,000 Stake in FedEx Corporation (FDX)
Municipal Employees Retirement System of Michigan held its stake in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,250 shares of the shipping service provider’s stock at the end of the first quarter. Municipal Employees Retirement System of Michigan’s holdings in FedEx Corporation were worth $2,196,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Alexandria Capital LLC increased its stake in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares during the last quarter. Pinnacle Bank acquired a new stake in FedEx Corporation during the first quarter worth approximately $122,000. Adirondack Trust Co. increased its stake in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares during the last quarter. Brick & Kyle Associates increased its stake in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares during the last quarter. Finally, Cohen Capital Management Inc. acquired a new stake in FedEx Corporation during the first quarter worth approximately $185,000. 76.00% of the stock is owned by institutional investors.
Shares of FedEx Corporation (NYSE FDX) traded up 0.31% during trading on Friday, hitting $206.00. 930,437 shares of the stock were exchanged. The firm’s 50-day moving average is $211.69 and its 200 day moving average is $199.13. The company has a market cap of $55.26 billion, a P/E ratio of 18.61 and a beta of 1.27. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s revenue for the quarter was up 21.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.30 earnings per share. Equities analysts forecast that FedEx Corporation will post $13.56 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be paid a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.
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A number of research firms have recently issued reports on FDX. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets boosted their price target on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus restated a “neutral” rating on shares of FedEx Corporation in a report on Wednesday. CIBC boosted their price target on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a report on Thursday, June 15th. Finally, J P Morgan Chase & Co restated an “overweight” rating and set a $237.00 price target on shares of FedEx Corporation in a report on Wednesday, June 21st. Six research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $221.78.
In other FedEx Corporation news, Director Kim Jabal sold 609 shares of the business’s stock in a transaction dated Thursday, June 29th. The stock was sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the transaction, the director now owns 2,100 shares of the company’s stock, valued at $453,873. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is owned by insiders.
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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