Cipher Capital LP cut its holdings in FedEx Corporation (NYSE:FDX) by 79.8% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 6,050 shares of the shipping service provider’s stock after selling 23,863 shares during the quarter. Cipher Capital LP’s holdings in FedEx Corporation were worth $1,315,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Providence First Trust Co acquired a new stake in shares of FedEx Corporation in the second quarter valued at $770,000. Swiss National Bank increased its stake in shares of FedEx Corporation by 3.4% in the second quarter. Swiss National Bank now owns 925,068 shares of the shipping service provider’s stock valued at $201,045,000 after buying an additional 30,600 shares in the last quarter. Bronfman E.L. Rothschild L.P. increased its stake in shares of FedEx Corporation by 9.5% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 8,417 shares of the shipping service provider’s stock valued at $1,829,000 after buying an additional 733 shares in the last quarter. Sentry Investments Corp. increased its stake in shares of FedEx Corporation by 13.6% in the second quarter. Sentry Investments Corp. now owns 58,199 shares of the shipping service provider’s stock valued at $12,648,000 after buying an additional 6,950 shares in the last quarter. Finally, Pacad Investment Ltd. acquired a new stake in shares of FedEx Corporation in the second quarter valued at $2,388,000. Institutional investors own 75.89% of the company’s stock.
FedEx Corporation (NYSE:FDX) opened at 220.78 on Wednesday. The firm’s 50-day moving average price is $216.27 and its 200-day moving average price is $205.52. The company has a market cap of $59.20 billion, a PE ratio of 20.81 and a beta of 1.31. FedEx Corporation has a one year low of $168.00 and a one year high of $227.00.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The company’s quarterly revenue was up 4.1% on a year-over-year basis. During the same period in the previous year, the company posted $2.90 EPS. On average, equities research analysts forecast that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were paid a $0.50 dividend. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. FedEx Corporation’s payout ratio is 18.87%.
A number of analysts have recently weighed in on FDX shares. Vetr lowered FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a research note on Thursday, August 31st. BMO Capital Markets restated a “buy” rating and issued a $245.00 target price on shares of FedEx Corporation in a research note on Wednesday, September 6th. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Zacks Investment Research lowered FedEx Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, August 22nd. Finally, Bank of America Corporation reiterated a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research report on Friday, October 6th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $227.14.
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In related news, Director John A. Edwardson sold 2,208 shares of the firm’s stock in a transaction that occurred on Monday, July 31st. The stock was sold at an average price of $208.14, for a total transaction of $459,573.12. Following the completion of the sale, the director now owns 30,608 shares of the company’s stock, valued at $6,370,749.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’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 sale, the executive vice president now directly owns 30,499 shares of the company’s stock, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last three months, insiders sold 27,172 shares of company stock valued at $6,039,193. Insiders own 8.45% 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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