FedEx Corporation (FDX) Position Trimmed by First Interstate Bank
First Interstate Bank decreased its position in shares of FedEx Corporation (NYSE:FDX) by 2.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,144 shares of the shipping service provider’s stock after selling 984 shares during the period. FedEx Corporation comprises approximately 1.5% of First Interstate Bank’s holdings, making the stock its 19th biggest holding. First Interstate Bank’s holdings in FedEx Corporation were worth $7,421,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in FDX. Cribstone Capital Management LLC lifted its holdings in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares in the last quarter. Guardian Life Insurance Co. of America boosted its position in FedEx Corporation by 1.0% in the 1st quarter. Guardian Life Insurance Co. of America now owns 943 shares of the shipping service provider’s stock valued at $184,000 after buying an additional 9 shares during the last quarter. Park National Corp OH boosted its position in FedEx Corporation by 0.9% in the 2nd quarter. Park National Corp OH now owns 1,178 shares of the shipping service provider’s stock valued at $256,000 after buying an additional 10 shares during the last quarter. Argent Trust Co boosted its position in FedEx Corporation by 0.3% in the 1st quarter. Argent Trust Co now owns 4,516 shares of the shipping service provider’s stock valued at $882,000 after buying an additional 12 shares during the last quarter. Finally, Alexandria Capital LLC boosted its position in 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 buying an additional 13 shares during the last quarter. 75.89% of the stock is currently owned by hedge funds and other institutional investors.
FedEx Corporation (NYSE FDX) opened at 223.00 on Wednesday. The company has a 50-day moving average price of $214.31 and a 200-day moving average price of $204.45. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00. The company has a market capitalization of $59.80 billion, a price-to-earnings ratio of 21.02 and a beta of 1.31.
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). The firm had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. FedEx Corporation’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 earnings per share. Equities research analysts anticipate that FedEx Corporation will post $12.47 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were issued a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date of this dividend was Friday, September 8th. FedEx Corporation’s payout ratio is 18.87%.
FDX has been the subject of a number of analyst reports. UBS AG reissued 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. Cowen and Company restated a “buy” rating and set a $240.00 price objective on shares of FedEx Corporation in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. restated a “buy” rating and set a $229.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 20th. Stifel Nicolaus restated a “hold” rating and set a $221.00 price objective (up from $216.00) on shares of FedEx Corporation in a report on Wednesday, September 20th. Finally, BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. FedEx Corporation has a consensus rating of “Buy” and an average price target of $225.26.
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In other news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction that occurred 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 transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now directly owns 53,397 shares in the company, valued at $12,059,712.45. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,172 shares of company stock valued at $6,039,193. Company insiders own 8.45% of the company’s stock.
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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