Bp Plc Increases Position in FedEx Corporation (FDX)
Bp Plc lifted its position in FedEx Corporation (NYSE:FDX) by 35.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 28,500 shares of the shipping service provider’s stock after purchasing an additional 7,500 shares during the period. Bp Plc’s holdings in FedEx Corporation were worth $6,194,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Handelsbanken Fonder AB purchased a new stake in FedEx Corporation during the second quarter worth $435,000. Janney Montgomery Scott LLC lifted its holdings in FedEx Corporation by 1.3% during the second quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after buying an additional 707 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in FedEx Corporation by 2.7% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock worth $13,641,000 after buying an additional 1,852 shares during the period. Harbour Capital Advisors LLC lifted its holdings in FedEx Corporation by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after buying an additional 1,418,066 shares during the period. Finally, Madison Investment Holdings Inc. lifted its holdings in FedEx Corporation by 63.6% during the first quarter. Madison Investment Holdings Inc. now owns 181,250 shares of the shipping service provider’s stock worth $35,371,000 after buying an additional 70,436 shares during the period. Hedge funds and other institutional investors own 75.84% of the company’s stock.
In other FedEx Corporation news, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares in the company, valued at $7,163,404.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction on Thursday, June 29th. The shares were 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 in the company, valued at $453,873. 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. 8.45% of the stock is currently owned by company insiders.
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A number of research firms have weighed in on FDX. Zacks Investment Research lowered FedEx Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, June 7th. BMO Capital Markets upped their target price on FedEx Corporation from $220.00 to $245.00 and gave the stock 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, August 16th. Citigroup Inc. restated a “buy” rating and set a $235.00 target price on shares of FedEx Corporation in a report on Thursday, September 14th. Finally, CIBC upped their target price on FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a report on Thursday, June 15th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. FedEx Corporation has a consensus rating of “Buy” and an average price target of $223.85.
Shares of FedEx Corporation (FDX) opened at 215.08 on Tuesday. FedEx Corporation has a 12 month low of $161.65 and a 12 month high of $219.99. The firm’s 50-day moving average price is $209.94 and its 200 day moving average price is $202.20. The firm has a market capitalization of $57.70 billion, a P/E ratio of 19.43 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. The company 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%. FedEx Corporation’s quarterly revenue was up 21.0% on a year-over-year basis. During the same period in the previous year, the business posted $3.30 earnings per share. Analysts anticipate that FedEx Corporation will post $13.43 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a $0.50 dividend. The ex-dividend date is Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.93%. FedEx Corporation’s dividend payout ratio is presently 18.08%.
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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