Comerica Bank Decreases Position in FedEx Corporation (FDX)
Comerica Bank cut its position in shares of FedEx Corporation (NYSE:FDX) by 0.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,579 shares of the shipping service provider’s stock after selling 123 shares during the quarter. Comerica Bank’s holdings in FedEx Corporation were worth $14,585,000 as of its most recent SEC filing.
Other large investors have also recently bought and sold shares of the company. Riggs Asset Managment Co. Inc. boosted its position in 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 purchasing an additional 300 shares during the last quarter. Cribstone Capital Management LLC boosted its position in 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 purchasing an additional 6 shares during the last quarter. FNY Managed Accounts LLC acquired a new position in FedEx Corporation during the first quarter valued at approximately $100,000. Alexandria Capital LLC boosted its position in 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 purchasing an additional 13 shares during the last quarter. Finally, Hefty Wealth Partners boosted its position in 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 purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 75.84% of the company’s stock.
FedEx Corporation (FDX) opened at 220.00 on Thursday. FedEx Corporation has a 1-year low of $168.00 and a 1-year high of $222.71. The firm’s 50-day moving average price is $210.17 and its 200-day moving average price is $202.36. The company has a market cap of $58.99 billion, a price-to-earnings ratio of 20.74 and a beta of 1.28.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the consensus estimate of $3.17 by ($0.66). FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. During the same quarter in the previous year, the company posted $2.90 EPS. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis. Equities research analysts forecast that FedEx Corporation will post $12.48 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a dividend of $0.50 per share. The ex-dividend date is Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s dividend payout ratio is currently 18.87%.
FDX has been the subject of several recent research reports. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 price target for the company. in a research report on Thursday, August 31st. J P Morgan Chase & Co reissued an “overweight” rating and set a $237.00 price target on shares of FedEx Corporation in a research report on Wednesday, June 21st. Credit Suisse Group increased their price target on FedEx Corporation from $225.00 to $237.00 and gave the company an “outperform” rating in a research report on Wednesday, June 21st. Cowen and Company reissued an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Wednesday, June 21st. Finally, Oppenheimer Holdings, Inc. increased their price target on FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, June 15th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. FedEx Corporation has an average rating of “Buy” and an average price target of $225.26.
In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the stock in a transaction on Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the sale, the director now owns 30,608 shares in the company, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Corporate insiders own 8.45% of the company’s stock.
About FedEx Corporation
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.
Receive News & Stock Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related stocks with our FREE daily email newsletter.