Gradient Investments LLC lifted its position in FedEx Co. (NYSE:FDX – Free Report) by 43.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,931 shares of the shipping service provider’s stock after buying an additional 583 shares during the quarter. Gradient Investments LLC’s holdings in FedEx were worth $479,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. Norges Bank acquired a new stake in FedEx in the 4th quarter valued at about $388,787,000. Mizuho Markets Americas LLC acquired a new stake in shares of FedEx in the first quarter valued at approximately $314,712,000. Mizuho Markets Cayman LP boosted its stake in shares of FedEx by 64,686.3% during the 1st quarter. Mizuho Markets Cayman LP now owns 1,377,356 shares of the shipping service provider’s stock worth $314,712,000 after acquiring an additional 1,375,230 shares during the period. Morgan Stanley increased its holdings in shares of FedEx by 19.6% during the 4th quarter. Morgan Stanley now owns 3,412,956 shares of the shipping service provider’s stock worth $591,124,000 after acquiring an additional 559,607 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership raised its stake in FedEx by 34.5% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 1,951,974 shares of the shipping service provider’s stock valued at $338,082,000 after acquiring an additional 500,361 shares during the period. 73.61% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at FedEx
In other news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the completion of the sale, the vice president now owns 3,196 shares in the company, valued at $762,597.56. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other FedEx news, EVP Robert B. Carter sold 19,270 shares of FedEx stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total transaction of $4,740,420.00. Following the transaction, the executive vice president now directly owns 58,875 shares of the company’s stock, valued at approximately $14,483,250. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jennifer L. Johnson sold 10,801 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the transaction, the vice president now directly owns 3,196 shares in the company, valued at $762,597.56. The disclosure for this sale can be found here. Insiders have sold 35,816 shares of company stock valued at $8,822,147 in the last 90 days. 8.73% of the stock is currently owned by corporate insiders.
FedEx Trading Down 1.9 %
FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings data on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The company had revenue of $21.93 billion for the quarter, compared to the consensus estimate of $22.55 billion. During the same period in the previous year, the business earned $6.87 EPS. The firm’s revenue was down 10.1% compared to the same quarter last year. Equities analysts expect that FedEx Co. will post 17.37 earnings per share for the current year.
FedEx Dividend Announcement
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 paid a dividend of $1.26 per share. This represents a $5.04 annualized dividend and a yield of 2.02%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio is presently 32.52%.
Wall Street Analysts Forecast Growth
FDX has been the topic of a number of research reports. Credit Suisse Group decreased their price target on shares of FedEx from $273.00 to $265.00 in a research note on Wednesday, June 21st. Stephens reissued an “overweight” rating and issued a $290.00 target price on shares of FedEx in a research report on Friday, August 11th. Argus raised their price target on shares of FedEx from $240.00 to $260.00 in a research report on Monday, June 26th. Wells Fargo & Company raised their price objective on FedEx from $240.00 to $270.00 and gave the stock an “equal weight” rating in a research note on Tuesday, September 12th. Finally, Morgan Stanley raised their price target on FedEx from $186.00 to $200.00 and gave the stock an “equal weight” rating in a research report on Friday, September 8th. Eight equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $254.30.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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