Concentric Wealth Management LLC Has $2.11 Million Stake in FedEx Corporation (NYSE:FDX)

Concentric Wealth Management LLC decreased its position in FedEx Corporation (NYSE:FDX) by 2.8% during the first quarter, Holdings Channel reports. The institutional investor owned 10,834 shares of the shipping service provider’s stock after selling 310 shares during the period. FedEx Corporation comprises 1.7% of Concentric Wealth Management LLC’s portfolio, making the stock its 22nd largest position. Concentric Wealth Management LLC’s holdings in FedEx Corporation were worth $2,114,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in FDX. CFO4Life Group LLC purchased a new position in shares of FedEx Corporation during the first quarter worth $509,000. Credit Agricole S A increased its position in shares of FedEx Corporation by 11.9% in the first quarter. Credit Agricole S A now owns 454,207 shares of the shipping service provider’s stock worth $88,638,000 after buying an additional 48,380 shares in the last quarter. ZWJ Investment Counsel Inc. increased its position in shares of FedEx Corporation by 57.9% in the first quarter. ZWJ Investment Counsel Inc. now owns 7,420 shares of the shipping service provider’s stock worth $1,448,000 after buying an additional 2,720 shares in the last quarter. Chicago Partners Investment Group LLC increased its position in shares of FedEx Corporation by 30.0% in the first quarter. Chicago Partners Investment Group LLC now owns 1,299 shares of the shipping service provider’s stock worth $253,000 after buying an additional 300 shares in the last quarter. Finally, Covington Investment Advisors Inc. increased its position in shares of FedEx Corporation by 0.7% in the first quarter. Covington Investment Advisors Inc. now owns 20,557 shares of the shipping service provider’s stock worth $4,012,000 after buying an additional 135 shares in the last quarter. 76.25% of the stock is owned by institutional investors and hedge funds.

FedEx Corporation (NYSE:FDX) opened at 213.63 on Thursday. FedEx Corporation has a 12-month low of $158.05 and a 12-month high of $219.99. The company’s 50-day moving average is $213.45 and its 200 day moving average is $197.03. The stock has a market capitalization of $57.31 billion, a PE ratio of 19.30 and a beta of 1.28.

FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The business had revenue of $15.70 billion for the quarter, compared to analysts’ expectations of $15.56 billion. During the same quarter in the previous year, the business posted $3.30 earnings per share. The business’s revenue was up 21.0% compared to the same quarter last year. On average, equities research analysts expect that FedEx Corporation will post $13.60 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, July 6th. Shareholders of record on Thursday, June 22nd were given a dividend of $0.50 per share. This is a boost from FedEx Corporation’s previous quarterly dividend of $0.40. The ex-dividend date was Tuesday, June 20th. This represents a $2.00 dividend on an annualized basis and a yield of 0.94%. FedEx Corporation’s payout ratio is 18.08%.

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A number of brokerages recently weighed in on FDX. Vetr raised shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 target price for the company in a research note on Tuesday, July 18th. Cowen and Company reissued a “buy” rating and set a $240.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 11th. Loop Capital reissued a “buy” rating and set a $234.00 target price on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein reissued a “market perform” rating and set a $220.00 target price on shares of FedEx Corporation in a research note on Monday, July 3rd. Finally, BMO Capital Markets lifted their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the stock an “outperform” rating in a research note on Friday, June 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $221.78.

In other FedEx Corporation news, VP John L. Merino sold 7,200 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the transaction, the vice president now owns 33,908 shares in the company, valued at $7,163,404.08. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Henry J. Maier sold 12,580 shares of the business’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $209.50, for a total transaction of $2,635,510.00. Following the transaction, the insider now owns 38,177 shares in the company, valued at approximately $7,998,081.50. The disclosure for this sale can be found here. Insiders have sold 210,549 shares of company stock worth $41,505,553 in the last quarter. Company insiders own 8.67% of the company’s stock.

About FedEx Corporation

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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Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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