Pittenger & Anderson Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 33.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 19,755 shares of the shipping service provider’s stock after buying an additional 4,991 shares during the period. Pittenger & Anderson Inc.’s holdings in FedEx Corporation were worth $4,293,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Handelsbanken Fonder AB purchased a new position in shares of FedEx Corporation during the 2nd quarter worth approximately $435,000. Janney Montgomery Scott LLC increased its stake in shares of FedEx Corporation by 1.3% during the 2nd quarter. Janney Montgomery Scott LLC now owns 53,299 shares of the shipping service provider’s stock worth $11,584,000 after purchasing an additional 707 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in FedEx Corporation by 2.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 69,903 shares of the shipping service provider’s stock worth $13,641,000 after acquiring an additional 1,852 shares during the period. Harbour Capital Advisors LLC grew its stake in FedEx Corporation by 21,011.5% in the 2nd quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after acquiring an additional 1,418,066 shares during the period. Finally, Sprott Inc. grew its stake in FedEx Corporation by 11.7% in the 2nd quarter. Sprott Inc. now owns 7,650 shares of the shipping service provider’s stock worth $1,663,000 after acquiring an additional 800 shares during the period. 76.04% of the stock is owned by institutional investors.
FedEx Corporation (FDX) opened at 230.47 on Friday. FedEx Corporation has a 1-year low of $170.16 and a 1-year high of $231.35. The firm has a 50-day moving average of $220.04 and a 200 day moving average of $207.81. The firm has a market cap of $61.80 billion, a price-to-earnings ratio of 21.73 and a beta of 1.31.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm had revenue of $15.30 billion for the quarter, compared to the consensus estimate of $15.35 billion. During the same period in the prior year, the company earned $2.90 EPS. The company’s revenue for the quarter was up 4.1% compared to the same quarter last year. Analysts expect that FedEx Corporation will post $12.46 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a dividend of $0.50 per share. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a yield of 0.87%. FedEx Corporation’s dividend payout ratio is 18.87%.
A number of equities analysts have weighed in on FDX shares. Wells Fargo & Company lifted their price target on shares of FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a report on Thursday, September 21st. Credit Suisse Group restated an “outperform” rating and set a $233.00 target price (down previously from $242.00) on shares of FedEx Corporation in a report on Friday, September 15th. Bank of America Corporation restated a “buy” rating and set a $247.00 target price (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. Loop Capital restated a “buy” rating and set a $234.00 target price on shares of FedEx Corporation in a report on Tuesday, July 4th. Finally, Cowen and Company reiterated a “buy” rating and issued a $240.00 price objective on shares of FedEx Corporation in a report on Tuesday, July 11th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $228.56.
In other FedEx Corporation news, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $208.14, for a total value of $459,573.12. Following the transaction, the director now directly owns 30,608 shares of the company’s stock, valued at approximately $6,370,749.12. The disclosure for this sale can be found here. Insiders have sold 38,322 shares of company stock valued at $8,586,522 in the last ninety days. 8.45% of the stock is currently owned by company insiders.
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FedEx Corporation 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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