LMR Partners LLP lowered its position in FedEx Corporation (NYSE:FDX) by 20.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,728 shares of the shipping service provider’s stock after selling 437 shares during the period. LMR Partners LLP’s holdings in FedEx Corporation were worth $337,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Alexandria Capital LLC boosted 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 valued at $103,000 after buying an additional 11 shares during the last quarter. Pinnacle Bank bought a new position in shares of FedEx Corporation during the first quarter worth approximately $122,000. Adirondack Trust Co. boosted its position in shares of FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares in the last quarter. Brick & Kyle Associates boosted its position in shares of FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares in the last quarter. Finally, Cohen Capital Management Inc. bought a new position in shares of FedEx Corporation during the first quarter worth approximately $185,000. Hedge funds and other institutional investors own 76.00% of the company’s stock.
FedEx Corporation (NYSE FDX) traded up 0.31% on Friday, hitting $206.00. 930,437 shares of the company traded hands. The stock’s 50-day moving average is $211.69 and its 200 day moving average is $199.13. The stock has a market cap of $55.26 billion, a PE ratio of 18.61 and a beta of 1.27. FedEx Corporation has a 12 month low of $158.20 and a 12 month high of $219.99.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.88 by $0.37. The business had revenue of $15.70 billion during the quarter, compared to analyst estimates of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The company’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.30 earnings per share. Equities research analysts expect that FedEx Corporation will post $13.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $0.50 dividend. This represents a $2.00 dividend on an annualized basis and a yield of 0.97%. FedEx Corporation’s payout ratio is 18.08%.
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FDX has been the subject of a number of analyst reports. Cowen and Company reiterated 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 reiterated 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 reiterated 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 objective for the company. in a research report on Monday, June 26th. Finally, BMO Capital Markets raised their price objective on FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Six analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $221.78.
In related news, Director John A. Edwardson sold 2,208 shares of the business’s stock in a transaction that occurred on Monday, July 31st. The shares were sold at an average price of $208.14, for a total value of $459,573.12. Following the completion of the sale, the director now directly owns 30,608 shares in the company, valued at $6,370,749.12. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Kim Jabal sold 609 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the sale, the director now owns 2,100 shares of the company’s stock, valued at $453,873. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is owned by insiders.
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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