Exxonmobil Investment Management Inc. TX Cuts Holdings in FedEx Corporation (FDX)
Exxonmobil Investment Management Inc. TX lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 13.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 47,229 shares of the shipping service provider’s stock after selling 7,219 shares during the quarter. Exxonmobil Investment Management Inc. TX’s holdings in FedEx Corporation were worth $10,264,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of FDX. Mycio Wealth Partners LLC bought a new position in shares of FedEx Corporation in the first quarter valued at approximately $204,000. First Mercantile Trust Co. boosted its position in shares of FedEx Corporation by 77.8% in the first quarter. First Mercantile Trust Co. now owns 18,608 shares of the shipping service provider’s stock valued at $3,632,000 after acquiring an additional 8,145 shares during the period. Founders Financial Securities LLC bought a new position in shares of FedEx Corporation in the first quarter valued at approximately $437,000. Penobscot Investment Management Company Inc. bought a new position in shares of FedEx Corporation in the first quarter valued at approximately $241,000. Finally, Janney Montgomery Scott LLC boosted its position in shares of FedEx Corporation by 66.7% in the first quarter. Janney Montgomery Scott LLC now owns 52,592 shares of the shipping service provider’s stock valued at $10,263,000 after acquiring an additional 21,043 shares during the period. Hedge funds and other institutional investors own 75.86% of the company’s stock.
In other FedEx Corporation news, EVP Robert B. Carter sold 24,522 shares of the stock in a transaction on Thursday, June 22nd. The stock was 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 owns 68,556 shares in the company, valued at $14,462,573.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of the stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total value of $3,706,215.00. Following the completion of the sale, the chief executive officer now owns 29,148 shares in the company, valued at approximately $6,150,228. The disclosure for this sale can be found here. Insiders have sold a total of 77,757 shares of company stock worth $16,447,426 in the last 90 days. 8.45% of the stock is currently owned by insiders.
Shares of FedEx Corporation (NYSE FDX) traded down 0.82% on Friday, hitting $211.42. 911,186 shares of the company traded hands. The stock has a market capitalization of $56.71 billion, a price-to-earnings ratio of 19.10 and a beta of 1.28. FedEx Corporation has a 1-year low of $158.20 and a 1-year high of $219.99. The firm’s 50 day moving average price is $209.45 and its 200-day moving average price is $201.14.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. The company had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. During the same quarter in the prior year, the firm posted $3.30 EPS. FedEx Corporation’s quarterly revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $13.56 earnings per share for the current 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 issued a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.94%. FedEx Corporation’s payout ratio is presently 18.08%.
A number of equities analysts have recently commented on FDX shares. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a research report on Tuesday, May 23rd. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective for the company in a research report on Wednesday, May 17th. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group raised their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Finally, Cowen and Company restated an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research report on Wednesday, June 21st. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-two have issued a buy rating to the stock. FedEx Corporation currently has a consensus rating of “Buy” and a consensus target price of $221.72.
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FedEx Corporation 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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