FedEx Corporation (FDX) Holdings Lessened by Arrow Financial Corp
Arrow Financial Corp lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 2.0% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,667 shares of the shipping service provider’s stock after selling 272 shares during the period. Arrow Financial Corp’s holdings in FedEx Corporation were worth $2,970,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Riggs Asset Managment Co. Inc. boosted its position in shares of FedEx Corporation by 163.0% during the second quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC boosted its position in shares of FedEx Corporation by 1.2% during the second quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after buying an additional 6 shares during the period. FNY Managed Accounts LLC purchased a new position in shares of FedEx Corporation during the first quarter valued at approximately $100,000. Alexandria Capital LLC boosted its position in shares of FedEx Corporation by 2.5% during the second quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after buying an additional 13 shares during the period. Finally, Hefty Wealth Partners boosted its position in shares of FedEx Corporation by 26.0% during the second quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 75.84% of the company’s stock.
FedEx Corporation (NYSE FDX) opened at 216.00 on Wednesday. The stock’s 50 day moving average price is $210.17 and its 200-day moving average price is $202.36. FedEx Corporation has a 12 month low of $168.00 and a 12 month high of $219.99. The firm has a market capitalization of $57.94 billion, a P/E ratio of 19.51 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The firm had revenue of $15.30 billion for the quarter, compared to analysts’ expectations of $15.35 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 4.1% on a year-over-year basis. During the same period last year, the firm posted $2.90 earnings per share. Equities analysts forecast that FedEx Corporation will post $13.38 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 paid a dividend of $0.50 per share. The ex-dividend date of this dividend is Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.93%. FedEx Corporation’s dividend payout ratio is currently 18.08%.
FDX has been the subject of several recent analyst reports. ValuEngine upgraded FedEx Corporation from a “hold” rating to a “buy” rating in a research report on Saturday, June 3rd. Zacks Investment Research upgraded FedEx Corporation from a “hold” rating to a “buy” rating and set a $222.00 price target for the company in a report on Friday, June 2nd. UBS AG reiterated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Deutsche Bank AG set a $235.00 price target on FedEx Corporation and gave the company a “buy” rating in a report on Wednesday, June 21st. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $240.00 price target (up previously from $230.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have issued a buy rating to the company’s stock. FedEx Corporation presently has a consensus rating of “Buy” and an average target price of $223.85.
In related news, Director John A. Edwardson sold 2,208 shares of FedEx Corporation stock in a transaction on Monday, July 31st. The shares were sold at an average price of $208.14, for a total transaction of $459,573.12. Following the sale, the director now directly owns 30,608 shares in the company, valued at approximately $6,370,749.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO David L. Cunningham, Jr. sold 17,565 shares of FedEx Corporation stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $211.00, for a total transaction of $3,706,215.00. Following the sale, the chief executive officer now owns 29,148 shares in the company, valued at $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 over the last quarter. 8.45% of the stock is owned by company insiders.
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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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