Prentiss Smith & Co. Inc. Sells 574 Shares of FedEx Corporation (FDX)
Prentiss Smith & Co. Inc. cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 1.5% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 37,194 shares of the shipping service provider’s stock after selling 574 shares during the quarter. FedEx Corporation makes up about 5.1% of Prentiss Smith & Co. Inc.’s investment portfolio, making the stock its 9th biggest position. Prentiss Smith & Co. Inc.’s holdings in FedEx Corporation were worth $8,390,000 at the end of the most recent quarter.
A number of other large investors have also bought and sold shares of FDX. Burney Co. raised its holdings in FedEx Corporation by 7.7% during the first quarter. Burney Co. now owns 14,552 shares of the shipping service provider’s stock valued at $2,840,000 after acquiring an additional 1,042 shares during the period. Suffolk Capital Management LLC raised its holdings in FedEx Corporation by 13.0% during the first quarter. Suffolk Capital Management LLC now owns 85,468 shares of the shipping service provider’s stock valued at $16,679,000 after acquiring an additional 9,816 shares during the period. Traynor Capital Management Inc. raised its holdings in FedEx Corporation by 17.0% during the first quarter. Traynor Capital Management Inc. now owns 2,957 shares of the shipping service provider’s stock valued at $559,000 after acquiring an additional 430 shares during the period. Covington Investment Advisors Inc. raised its holdings in FedEx Corporation by 0.7% during the first quarter. Covington Investment Advisors Inc. now owns 20,557 shares of the shipping service provider’s stock valued at $4,012,000 after acquiring an additional 135 shares during the period. Finally, Chicago Partners Investment Group LLC raised its holdings in FedEx Corporation by 30.0% during the first quarter. Chicago Partners Investment Group LLC now owns 1,299 shares of the shipping service provider’s stock valued at $253,000 after acquiring an additional 300 shares during the period. 76.07% of the stock is currently owned by institutional investors and hedge funds.
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Several equities research analysts have recently issued reports on FDX shares. Vetr cut FedEx Corporation to a “sell” rating and set a $204.84 target price on the stock. in a report on Thursday, August 31st. BMO Capital Markets reaffirmed a “buy” rating and issued a $245.00 target price on shares of FedEx Corporation in a report on Wednesday, September 6th. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a report on Tuesday, August 22nd. BidaskClub cut FedEx Corporation from a “strong-buy” rating to a “buy” rating in a report on Monday, July 31st. Finally, Bank of America Corporation reaffirmed a “buy” rating and issued a $247.00 target price (up from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-three have given a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $230.21.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the sale, the executive vice president now owns 30,499 shares in the company, valued at $6,709,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction that occurred on Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold 40,094 shares of company stock valued at $9,024,637 in the last quarter. 8.45% of the stock is owned by company insiders.
Shares of FedEx Corporation (NYSE:FDX) opened at $216.00 on Monday. The company has a quick ratio of 1.57, a current ratio of 1.63 and a debt-to-equity ratio of 0.91. The stock has a market capitalization of $57,919.91, a P/E ratio of 18.14, a P/E/G ratio of 1.36 and a beta of 1.37. FedEx Corporation has a twelve month low of $182.89 and a twelve month high of $231.35.
FedEx Corporation (NYSE:FDX) last announced 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 firm had revenue of $15.30 billion during the quarter, compared to analysts’ expectations 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 firm posted $2.90 EPS. research analysts expect that FedEx Corporation will post 12.47 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Investors of record on Monday, December 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a dividend yield of 0.93%. FedEx Corporation’s payout ratio is 18.87%.
FedEx Corporation 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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