Regent Investment Management LLC boosted its position in shares of FedEx Corporation (NYSE:FDX) by 4.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,450 shares of the shipping service provider’s stock after buying an additional 665 shares during the period. FedEx Corporation makes up approximately 1.1% of Regent Investment Management LLC’s investment portfolio, making the stock its 21st largest position. Regent Investment Management LLC’s holdings in FedEx Corporation were worth $3,140,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. FNY Managed Accounts LLC purchased a new stake in FedEx Corporation during the first quarter worth approximately $100,000. Alexandria Capital LLC raised its position in shares of FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock valued at $103,000 after buying an additional 11 shares during the period. Pinnacle Bank bought a new position in shares of FedEx Corporation during the first quarter valued at approximately $122,000. Adirondack Trust Co. raised its position in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares during the period. Finally, Brick & Kyle Associates raised its position in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares during the period. Institutional investors own 76.36% of the company’s stock.
Shares of FedEx Corporation (NYSE FDX) traded up 0.65% during mid-day trading on Friday, hitting $204.87. 1,136,569 shares of the stock were exchanged. The stock’s 50 day moving average is $212.82 and its 200-day moving average is $198.62. The stock has a market cap of $54.96 billion, a PE ratio of 18.51 and a beta of 1.27. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.
FedEx Corporation (NYSE:FDX) last issued its earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, beating the Zacks’ consensus estimate of $3.88 by $0.37. The firm had revenue of $15.70 billion for the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a return on equity of 22.19% and a net margin of 4.97%. FedEx Corporation’s revenue for the quarter was up 21.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.30 earnings per share. On average, analysts anticipate that FedEx Corporation will post $13.58 EPS for the current year.
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Several research analysts have commented on FDX shares. Zacks Investment Research upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price objective for the company in a report on Tuesday, May 23rd. Vetr upgraded shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $195.86 price objective for the company in a report on Wednesday, May 17th. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Credit Suisse Group upped their price objective on shares of FedEx Corporation from $225.00 to $237.00 and gave the stock an “outperform” rating in a report on Wednesday, June 21st. Finally, Cowen and Company restated an “outperform” rating and issued a $240.00 price objective on shares of FedEx Corporation in a report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $221.78.
In other FedEx Corporation news, EVP Rajesh Subramaniam sold 7,155 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The stock was sold at an average price of $215.47, for a total value of $1,541,687.85. Following the completion of the transaction, the executive vice president now directly owns 21,566 shares of the company’s stock, valued at $4,646,826.02. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Kim Jabal sold 5,918 shares of the business’s stock in a transaction that occurred on Friday, June 23rd. The shares were sold at an average price of $216.05, for a total value of $1,278,583.90. Following the completion of the transaction, the director now directly owns 3,610 shares of the company’s stock, valued at $779,940.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 77,757 shares of company stock worth $16,447,426. 8.67% of the stock is owned by insiders.
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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