RDL Financial Inc. Has $245,000 Position in FedEx Corporation (FDX)
RDL Financial Inc. cut its stake in shares of FedEx Corporation (NYSE:FDX) by 20.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,126 shares of the shipping service provider’s stock after selling 297 shares during the period. RDL Financial Inc.’s holdings in FedEx Corporation were worth $245,000 as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Riggs Asset Managment Co. Inc. grew its stake in shares of 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 purchasing an additional 300 shares during the period. Cribstone Capital Management LLC grew its stake in shares of 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 purchasing an additional 6 shares during the period. FNY Managed Accounts LLC acquired a new stake in shares of FedEx Corporation during the first quarter worth $100,000. Alexandria Capital LLC grew its stake in shares of 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 purchasing an additional 13 shares during the period. Finally, Hefty Wealth Partners grew its stake in shares of 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 purchasing an additional 130 shares during the period. 75.89% of the stock is owned by institutional investors and hedge funds.
FDX has been the subject of a number of analyst reports. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 price objective for the company. in a research note on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and set a $245.00 price objective on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, August 22nd. Finally, Bank of America Corporation reaffirmed a “buy” rating and set a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $228.26.
Shares of FedEx Corporation (FDX) opened at 225.06 on Friday. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00. The company has a market cap of $60.35 billion, a price-to-earnings ratio of 21.22 and a beta of 1.31. The company’s 50-day moving average price is $217.17 and its 200 day moving average price is $205.79.
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 analysts’ consensus estimates of $3.17 by ($0.66). The company had revenue of $15.30 billion for 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 revenue for the quarter was up 4.1% on a year-over-year basis. During the same quarter last year, the firm posted $2.90 EPS. Equities analysts predict that FedEx Corporation will post $12.46 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.89%. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.87%.
In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of FedEx Corporation stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. Insiders have sold a total of 27,172 shares of company stock valued at $6,039,193 in the last quarter. 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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