Doyle Wealth Management boosted its stake in FedEx Corporation (NYSE:FDX) by 1.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,318 shares of the shipping service provider’s stock after buying an additional 15 shares during the period. Doyle Wealth Management’s holdings in FedEx Corporation were worth $287,000 as of its most recent SEC filing.
Other hedge funds have also recently modified their holdings of the company. FNY Managed Accounts LLC bought a new position in FedEx Corporation during the first quarter worth $100,000. Alexandria Capital LLC raised its position in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares during the period. Riggs Asset Managment Co. Inc. raised its position in FedEx Corporation by 163.0% in 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 during the period. Cribstone Capital Management LLC raised its position in FedEx Corporation by 1.2% in 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 during the period. Finally, Pinnacle Bank bought a new position in FedEx Corporation during the first quarter worth $122,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.
FedEx Corporation (NYSE FDX) traded up 0.31% during trading on Friday, reaching $206.00. The company’s stock had a trading volume of 930,437 shares. The firm has a market capitalization of $55.26 billion, a P/E ratio of 18.61 and a beta of 1.27. FedEx Corporation has a 52 week low of $158.20 and a 52 week high of $219.99. The firm has a 50-day moving average price of $211.69 and a 200-day moving average price of $199.13.
The company also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be paid a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a yield of 0.97%. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.
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Several brokerages have recently commented on FDX. Cowen and Company reaffirmed a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 11th. Loop Capital reaffirmed a “buy” rating and issued a $234.00 price target on shares of FedEx Corporation in a research note on Tuesday, July 4th. Sanford C. Bernstein reaffirmed a “market perform” rating and issued a $220.00 price target on shares of FedEx Corporation in a research note on Monday, July 3rd. Vetr lowered FedEx Corporation from a “hold” rating to a “sell” rating and set a $206.26 price target on the stock. in a research note on Monday, June 26th. Finally, BMO Capital Markets upped their price target on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. 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 company presently has a consensus rating of “Buy” and a consensus price target of $221.78.
In other news, VP John L. Merino sold 7,200 shares of the company’s stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares of the company’s stock, 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, Director Kim Jabal sold 5,918 shares of the company’s stock in a transaction on Friday, June 23rd. The stock was sold at an average price of $216.05, for a total transaction of $1,278,583.90. Following the completion of the sale, the director now owns 3,610 shares of the company’s stock, valued at $779,940.50. The disclosure for this sale can be found here. Over the last three months, insiders have sold 77,757 shares of company stock worth $16,447,426. Company insiders own 8.67% 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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