High Pointe Capital Management LLC Has $1.50 Million Stake in FedEx Corporation (FDX)
High Pointe Capital Management LLC grew its position in FedEx Corporation (NYSE:FDX) by 0.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 6,900 shares of the shipping service provider’s stock after purchasing an additional 10 shares during the quarter. FedEx Corporation comprises approximately 2.3% of High Pointe Capital Management LLC’s investment portfolio, making the stock its 9th biggest position. High Pointe Capital Management LLC’s holdings in FedEx Corporation were worth $1,500,000 at the end of the most recent reporting period.
Other institutional investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC acquired a new position in shares of FedEx Corporation in the first quarter valued at approximately $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 worth $105,000 after buying an additional 300 shares in the last quarter. 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 worth $107,000 after buying an additional 6 shares in the last quarter. 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 worth $117,000 after buying an additional 13 shares in the last quarter. Finally, Hefty Wealth Partners grew 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 worth $136,000 after buying an additional 130 shares in the last quarter. 75.89% of the stock is currently owned by institutional investors.
A number of brokerages have weighed in on FDX. BMO Capital Markets raised their target price on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a report on Friday, June 23rd. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a research note on Wednesday, August 16th. Citigroup Inc. reaffirmed a “buy” rating and set a $235.00 target price on shares of FedEx Corporation in a research report on Thursday, September 14th. CIBC raised their target price on FedEx Corporation from $218.00 to $229.00 and gave the stock an “outperform” rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co reaffirmed an “overweight” rating and set a $237.00 target price on shares of FedEx Corporation in a research report on Wednesday, June 21st. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $225.71.
Shares of FedEx Corporation (NYSE:FDX) opened at 220.80 on Friday. The firm’s 50-day moving average is $215.44 and its 200-day moving average is $204.90. The company has a market cap of $59.21 billion, a PE ratio of 20.82 and a beta of 1.31. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00. FedEx Corporation also was the recipient of some unusual options trading activity on Wednesday. Investors bought 12,915 put options on the stock. This represents an increase of 309% compared to the typical daily volume of 3,161 put options.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 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 the consensus estimate of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The firm’s revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.90 earnings per share. On average, equities 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 given a dividend of $0.50 per share. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is 18.87%.
In other news, Director John A. Edwardson sold 2,208 shares of the firm’s 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 21st. The shares were 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 disclosure for this sale can be found here. Insiders have sold a total of 27,172 shares of company stock worth $6,039,193 over the last 90 days. 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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