Abbot Financial Management Inc. purchased a new position in FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 8,140 shares of the shipping service provider’s stock, valued at approximately $1,769,000. FedEx Corporation comprises about 1.6% of Abbot Financial Management Inc.’s portfolio, making the stock its 24th biggest position.
Other large investors also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted its position in shares of FedEx Corporation by 163.0% during the 2nd 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 last quarter. Cribstone Capital Management LLC increased its holdings in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after acquiring an additional 6 shares during the period. FNY Managed Accounts LLC acquired a new position in shares of FedEx Corporation in the 1st quarter valued at $100,000. Alexandria Capital LLC increased its holdings in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after acquiring an additional 13 shares during the period. Finally, Hefty Wealth Partners increased its holdings in shares of FedEx Corporation by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after acquiring an additional 130 shares during the period. Institutional investors and hedge funds own 76.27% of the company’s stock.
Shares of FedEx Corporation (NYSE:FDX) traded up $0.71 during trading hours on Friday, reaching $218.15. 936,200 shares of the company’s stock traded hands, compared to its average volume of 1,471,958. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. FedEx Corporation has a one year low of $182.11 and a one year high of $231.35. The firm has a market capitalization of $58,306.04, a P/E ratio of 18.26, a price-to-earnings-growth ratio of 1.37 and a beta of 1.37.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The firm 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 firm’s revenue was up 4.1% compared to the same quarter last year. During the same period last year, the business earned $2.90 EPS. equities research analysts anticipate that FedEx Corporation will post 12.47 EPS for the current year.
A number of brokerages have recently commented on FDX. Cowen and Company reaffirmed an “outperform” rating and issued a $240.00 target price on shares of FedEx Corporation in a report on Friday, October 13th. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $236.00 target price on shares of FedEx Corporation in a report on Friday, October 20th. J P Morgan Chase & Co boosted their price objective on shares of FedEx Corporation from $237.00 to $264.00 and gave the company an “overweight” rating in a research note on Thursday, October 12th. Zacks Investment Research cut shares of FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Monday, October 16th. Finally, Bank of America Corporation reissued a “buy” rating and issued a $247.00 price objective (up from $240.00) on shares of FedEx Corporation in a research note on Friday, October 6th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. FedEx Corporation has an average rating of “Buy” and an average target price of $228.56.
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In other news, EVP Donald F. Colleran sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 21st. The stock was sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the transaction, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Henry J. Maier sold 11,150 shares of the stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 40,094 shares of company stock valued at $9,024,637. Company insiders own 8.45% of the company’s stock.
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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