Today: Today, Commerce Bank Reached $5,020,000 position of FedEx Corp. (FDX)

Today, Commerce Bank Reached $5,020,000 position  of FedEx Corp. (FDX)

Commerce Bank increased its position in shares of FedEx Corp. (NYSE:FDX) by 2.2% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,742 shares of the shipping service provider’s stock after buying an additional 607 shares during the period. Commerce Bank’s holdings in FedEx Corp. were worth $5,020,000 as of its most recent filing with the SEC.

A number of other large investors also recently bought and sold shares of the stock. Northern Capital Management LLC bought a new stake in FedEx Corp. during the third quarter worth about $620,000. Mycio Wealth Partners LLC raised its stake in FedEx Corp. by 21.1% in the third quarter. Mycio Wealth Partners LLC now owns 597 shares of the shipping service provider’s stock worth $104,000 after buying an additional 104 shares in the last quarter. Appleton Partners Inc. MA bought a new stake in FedEx Corp. during the third quarter worth about $205,000. KBC Group NV raised its stake in FedEx Corp. by 85.4% in the third quarter. KBC Group NV now owns 99,029 shares of the shipping service provider’s stock worth $17,298,000 after buying an additional 45,623 shares in the last quarter. Finally, Spinnaker Trust raised its stake in FedEx Corp. by 0.6% in the third quarter. Spinnaker Trust now owns 14,190 shares of the shipping service provider’s stock worth $2,309,000 after buying an additional 84 shares in the last quarter. 74.35% of the stock is currently owned by institutional investors.

FedEx Corp. (NYSE:FDX) traded up 0.74% during mid-day trading on Friday, reaching $191.53. The company’s stock had a trading volume of 653,169 shares. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $191.84. The firm’s 50 day moving average price is $177.02 and its 200 day moving average price is $166.35. The firm has a market capitalization of $50.90 billion, a P/E ratio of 28.65 and a beta of 1.14.

FedEx Corp. (NYSE:FDX) last announced its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $2.81 by $0.09. FedEx Corp. had a return on equity of 21.65% and a net margin of 3.49%. The firm had revenue of $14.70 billion for the quarter. During the same quarter in the previous year, the company earned $2.42 EPS. The company’s quarterly revenue was up 19.5% compared to the same quarter last year. On average, analysts anticipate that FedEx Corp. will post $12.15 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, January 3rd. Shareholders of record on Monday, December 12th will be paid a dividend of $0.40 per share. This represents a $1.60 annualized dividend and a yield of 0.84%. The ex-dividend date is Thursday, December 8th. FedEx Corp.’s payout ratio is currently 23.99%.

A number of equities research analysts have issued reports on the company. BMO Capital Markets assumed coverage on FedEx Corp. in a research report on Thursday, November 17th. They issued a “market perform” rating and a $190.00 price target on the stock. Stifel Nicolaus lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $186.00 price target on the stock. in a research report on Tuesday, November 15th. They noted that the move was a valuation call. Deutsche Bank AG assumed coverage on FedEx Corp. in a research report on Wednesday, November 2nd. They issued a “buy” rating and a $210.00 price target on the stock. Vetr lowered FedEx Corp. from a “buy” rating to a “hold” rating and set a $179.94 price target on the stock. in a research report on Tuesday, September 27th. Finally, Robert W. Baird reissued an “outperform” rating and set a $185.00 target price on shares of FedEx Corp. in a research report on Friday, September 23rd. Twelve research analysts have rated the stock with a hold rating, ten have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $178.08.

In other FedEx Corp. news, insider Henry J. Maier sold 5,213 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The stock was sold at an average price of $176.65, for a total transaction of $920,876.45. Following the sale, the insider now owns 27,720 shares in the company, valued at $4,896,738. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO David J. Bronczek sold 32,669 shares of the company’s stock in a transaction that occurred on Wednesday, September 28th. The shares were sold at an average price of $176.30, for a total value of $5,759,544.70. Following the sale, the chief executive officer now owns 85,356 shares in the company, valued at approximately $15,048,262.80. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.

About FedEx Corp.

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