FedEx Corporation (FDX) Position Maintained by Palisade Asset Management LLC
Palisade Asset Management LLC continued to hold its stake in FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,390 shares of the shipping service provider’s stock at the close of the 2nd quarter. Palisade Asset Management LLC’s holdings in FedEx Corporation were worth $302,000 as of its most recent SEC filing.
Several other hedge funds have also recently modified their holdings of FDX. FNY Managed Accounts LLC bought a new stake in shares of FedEx Corporation in the 1st quarter valued at about $100,000. Riggs Asset Managment Co. Inc. raised its holdings in shares of FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after purchasing an additional 300 shares during the period. Cribstone Capital Management LLC raised its holdings in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares during the period. Alexandria Capital LLC raised its holdings in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the period. Finally, Brick & Kyle Associates raised its holdings in shares of FedEx Corporation by 1.5% in the 1st quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after purchasing an additional 10 shares during the period. 75.84% of the stock is currently owned by institutional investors.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the transaction, the director now owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kim Jabal sold 609 shares of the business’s stock in a transaction that occurred on 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 directly owns 2,100 shares of the company’s stock, valued at approximately $453,873. The disclosure for this sale can be found here. In the last three months, insiders sold 15,890 shares of company stock valued at $3,411,468. Corporate insiders own 8.45% of the company’s stock.
A number of equities research analysts have recently issued reports on FDX shares. Zacks Investment Research cut shares of FedEx Corporation from a “buy” rating to a “hold” rating in a report on Thursday, June 1st. Vetr cut shares of FedEx Corporation from a “hold” rating to a “sell” rating and set a $190.34 price target on the stock. in a report on Thursday, June 1st. ValuEngine raised shares of FedEx Corporation from a “hold” rating to a “buy” rating in a report on Saturday, June 3rd. Seaport Global Securities began coverage on shares of FedEx Corporation in a report on Tuesday, June 6th. They issued a “neutral” rating on the stock. Finally, Stifel Nicolaus increased their price target on shares of FedEx Corporation from $194.00 to $216.00 and gave the company a “hold” rating in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $224.43.
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Shares of FedEx Corporation (NYSE FDX) opened at 220.50 on Thursday. The company’s 50 day moving average is $210.17 and its 200 day moving average is $202.36. FedEx Corporation has a 52-week low of $168.00 and a 52-week high of $222.71. The firm has a market cap of $59.15 billion, a price-to-earnings ratio of 19.92 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 21.15% and a net margin of 4.72%. The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same period in the prior year, the firm earned $2.90 EPS. FedEx Corporation’s quarterly revenue was up 4.1% on a year-over-year basis. Analysts anticipate 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. 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 0.91%. FedEx Corporation’s dividend payout ratio is presently 18.87%.
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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