Utah Retirement Systems continued to hold its position in shares of FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 45,724 shares of the shipping service provider’s stock at the end of the first quarter. Utah Retirement Systems’ holdings in FedEx Corporation were worth $8,924,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Alexandria Capital LLC raised its stake 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 in the last quarter. Pinnacle Bank purchased a new stake in FedEx Corporation during the first quarter valued at approximately $122,000. Adirondack Trust Co. raised its stake in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock valued at $129,000 after buying an additional 10 shares in the last quarter. Brick & Kyle Associates raised its stake in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock valued at $132,000 after buying an additional 10 shares in the last quarter. Finally, Cohen Capital Management Inc. purchased a new stake in FedEx Corporation during the first quarter valued at approximately $185,000. 76.00% of the stock is owned by hedge funds and other institutional investors.
Shares of FedEx Corporation (NYSE:FDX) opened at 206.00 on Friday. The company has a 50-day moving average of $211.69 and a 200 day moving average of $199.13. The stock has a market cap of $55.26 billion, a P/E ratio of 18.61 and a beta of 1.27. FedEx Corporation has a 52-week low of $158.20 and a 52-week high of $219.99.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.25 EPS for the quarter, topping analysts’ consensus estimates of $3.88 by $0.37. The firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The firm’s revenue was up 21.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.30 earnings per share. Equities research analysts forecast that FedEx Corporation will post $13.56 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders 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 dividend payout ratio is presently 18.08%.
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Several analysts have recently issued reports on the stock. Zacks Investment Research lowered shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. BMO Capital Markets lifted their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research report on Friday, June 23rd. Stifel Nicolaus reiterated a “neutral” rating on shares of FedEx Corporation in a research report on Wednesday. CIBC lifted their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research report on Thursday, June 15th. Finally, J P Morgan Chase & Co reiterated an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a research report on Wednesday, June 21st. Six investment analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the company’s stock. FedEx Corporation presently has an average rating of “Buy” and a consensus target price of $221.78.
In other FedEx Corporation news, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction on Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total value of $1,521,072.00. Following the completion of the transaction, the vice president now owns 33,908 shares of the company’s stock, valued at $7,163,404.08. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Kim Jabal sold 609 shares of FedEx Corporation stock in a transaction on Thursday, June 29th. The stock was sold at an average price of $216.13, for a total transaction of $131,623.17. Following the completion of the transaction, the director now directly owns 2,100 shares of the company’s stock, valued at approximately $453,873. The disclosure for this sale can be found here. In the last ninety days, insiders sold 77,757 shares of company stock valued at $16,447,426. 8.67% of the stock is currently owned by corporate 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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