SFE Investment Counsel Sells 570 Shares of FedEx Corporation (FDX)
SFE Investment Counsel lessened its holdings in shares of FedEx Corporation (NYSE:FDX) by 25.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,665 shares of the shipping service provider’s stock after selling 570 shares during the period. SFE Investment Counsel’s holdings in FedEx Corporation were worth $362,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other institutional investors have also modified their holdings of FDX. FNY Managed Accounts LLC purchased a new position in shares of FedEx Corporation during the first quarter worth $100,000. Riggs Asset Managment Co. Inc. grew 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 buying an additional 300 shares during the period. Cribstone Capital Management LLC grew 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 buying an additional 6 shares during the period. Alexandria Capital LLC grew 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 buying an additional 13 shares during the period. Finally, Brick & Kyle Associates grew its position in FedEx Corporation by 1.5% during the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares during the period. 75.84% of the stock is owned by hedge funds and other institutional investors.
Several research firms recently commented on FDX. Stifel Nicolaus restated a “hold” rating and set a $221.00 price target (up previously from $216.00) on shares of FedEx Corporation in a research report on Wednesday, September 20th. Bank of America Corporation restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Wednesday, September 20th. Wells Fargo & Company raised their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research report on Thursday, September 21st. Zacks Investment Research upgraded shares of FedEx Corporation from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Finally, Cowen and Company restated a “buy” rating and set a $240.00 price target on shares of FedEx Corporation in a research report on Tuesday, July 11th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. FedEx Corporation has an average rating of “Buy” and a consensus price target of $225.26.
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FedEx Corporation (NYSE FDX) opened at 220.00 on Thursday. The firm’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 stock has a market capitalization of $58.99 billion, a P/E ratio of 20.74 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 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to analyst estimates of $15.35 billion. During the same period in the prior year, the business earned $2.90 earnings per share. FedEx Corporation’s revenue for the quarter was up 4.1% on a year-over-year basis. On average, equities research analysts predict that FedEx Corporation will post $12.48 EPS for the current fiscal year.
The company 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 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%.
In other FedEx Corporation news, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,370,749.12. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction dated 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 directly owns 30,499 shares in the company, valued at $6,709,780. The disclosure for this sale can be found here. 8.45% of the stock is owned by company insiders.
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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