First National Trust Co. decreased its stake in FedEx Corp. (NYSE:FDX) by 1.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,893 shares of the shipping service provider’s stock after selling 20 shares during the period. First National Trust Co.’s holdings in FedEx Corp. were worth $331,000 at the end of the most recent reporting period.
Other large investors have also bought and sold shares of the company. Exxonmobil Investment Management Inc. TX boosted its stake in shares of FedEx Corp. by 3.5% in the second quarter. Exxonmobil Investment Management Inc. TX now owns 64,618 shares of the shipping service provider’s stock worth $9,808,000 after buying an additional 2,210 shares in the last quarter. Washington Trust Bank boosted its stake in shares of FedEx Corp. by 10.7% in the second quarter. Washington Trust Bank now owns 3,101 shares of the shipping service provider’s stock worth $471,000 after buying an additional 300 shares in the last quarter. NEXT Financial Group Inc boosted its stake in shares of FedEx Corp. by 1.3% in the second quarter. NEXT Financial Group Inc now owns 4,644 shares of the shipping service provider’s stock worth $704,000 after buying an additional 59 shares in the last quarter. Cohen Lawrence B purchased a new stake in shares of FedEx Corp. during the second quarter worth $685,000. Finally, Patten & Patten Inc. TN boosted its stake in shares of FedEx Corp. by 6.2% in the second quarter. Patten & Patten Inc. TN now owns 1,795 shares of the shipping service provider’s stock worth $272,000 after buying an additional 105 shares in the last quarter. Hedge funds and other institutional investors own 74.35% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.74% during midday trading on Friday, reaching $191.53. The company’s stock had a trading volume of 653,169 shares. The stock has a 50-day moving average price of $177.02 and a 200 day moving average price of $166.35. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $191.84. The stock has a market capitalization of $50.90 billion, a PE ratio of 28.65 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, beating the 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 company had revenue of $14.70 billion for the quarter. During the same quarter last year, the business posted $2.42 earnings per share. The firm’s revenue for the quarter was up 19.5% compared to the same quarter last year. Equities analysts forecast that FedEx Corp. will post $12.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Investors of record on Monday, December 12th will be issued a $0.40 dividend. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.84%. The ex-dividend date is Thursday, December 8th. FedEx Corp.’s payout ratio is 23.99%.
A number of equities research analysts have weighed in on the company. Vetr upgraded FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective for the company in a research note on Tuesday, August 2nd. Stifel Nicolaus boosted their target price on FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a report on Wednesday, September 21st. Cowen and Company reissued a “market perform” rating and issued a $110.00 target price on shares of FedEx Corp. in a report on Sunday, July 31st. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a report on Thursday, September 22nd. Finally, Barclays PLC reissued a “top pick” rating on shares of FedEx Corp. in a report on Wednesday, September 21st. Twelve 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 a consensus target price of $178.08.
In related news, EVP Robert B. Carter sold 24,784 shares of FedEx Corp. stock in a transaction on Wednesday, September 28th. The stock was sold at an average price of $176.95, for a total value of $4,385,528.80. Following the transaction, the executive vice president now directly owns 68,183 shares in the company, valued at approximately $12,064,981.85. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Christine P. Richards sold 80,080 shares of the firm’s stock in a transaction on Monday, October 10th. The stock was sold at an average price of $173.59, for a total value of $13,901,087.20. Following the completion of the sale, the executive vice president now directly owns 98,620 shares of the company’s stock, valued at approximately $17,119,445.80. The disclosure for this sale can be found here. 8.67% of the stock is owned by corporate insiders.
FedEx Corp. Company 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.