Hartland & Co. LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,569 shares of the shipping service provider’s stock, valued at approximately $306,000.
Several other hedge funds have also modified their holdings of FDX. Legal & General Group Plc increased its stake in FedEx Corporation by 4.9% in the first quarter. Legal & General Group Plc now owns 1,194,505 shares of the shipping service provider’s stock worth $233,103,000 after buying an additional 56,227 shares during the period. SRS Capital Advisors Inc. increased its stake in FedEx Corporation by 27.0% in the first quarter. SRS Capital Advisors Inc. now owns 1,827 shares of the shipping service provider’s stock worth $356,000 after buying an additional 388 shares during the period. PNC Financial Services Group Inc. increased its stake in FedEx Corporation by 2.1% in the first quarter. PNC Financial Services Group Inc. now owns 137,402 shares of the shipping service provider’s stock worth $26,815,000 after buying an additional 2,778 shares during the period. Sentry Investments Corp. increased its stake in FedEx Corporation by 37.4% in the first quarter. Sentry Investments Corp. now owns 51,249 shares of the shipping service provider’s stock worth $10,001,000 after buying an additional 13,949 shares during the period. Finally, Ken Stern & Associates Inc. purchased a new position in shares of FedEx Corporation during the first quarter worth about $210,000. Institutional investors and hedge funds own 76.00% of the company’s stock.
Shares of FedEx Corporation (NYSE FDX) opened at 206.00 on Friday. The firm has a market cap of $55.26 billion, a P/E ratio of 18.61 and a beta of 1.27. The company has a 50-day moving average of $211.69 and a 200 day moving average of $199.13. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99.
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 given a dividend of $0.50 per share. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.08%.
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A number of research analysts recently issued reports on the stock. 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. UBS AG reiterated a “buy” rating and issued a $235.00 price target (up previously from $215.00) on shares of FedEx Corporation in a report on Wednesday, June 21st. Stephens set a $246.00 price objective on shares of FedEx Corporation and gave the stock an “overweight” rating in a research report on Wednesday, June 21st. Stifel Nicolaus reissued a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday. Finally, Zacks Investment Research raised shares of FedEx Corporation from a “hold” rating to a “buy” rating and set a $215.00 price target on the stock in a research report on Tuesday, May 23rd. Six equities research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $221.78.
In related news, VP John L. Merino sold 7,200 shares of the company’s stock in a transaction dated Thursday, June 22nd. The stock was sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kim Jabal sold 5,918 shares of the company’s stock in a transaction dated 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 transaction, the director now directly owns 3,610 shares in the company, valued at $779,940.50. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by corporate 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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