Smithfield Trust Co. raised its position in FedEx Corp. (NYSE:FDX) by 13.7% during the third quarter, Holdings Channel reports. The institutional investor owned 1,696 shares of the shipping service provider’s stock after buying an additional 205 shares during the period. Smithfield Trust Co.’s holdings in FedEx Corp. were worth $296,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. Babson Capital Management LLC increased its position in FedEx Corp. by 139.3% in the first quarter. Babson Capital Management LLC now owns 15,616 shares of the shipping service provider’s stock worth $2,541,000 after buying an additional 9,090 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in shares of FedEx Corp. during the first quarter valued at about $1,955,000. Euclid Advisors LLC purchased a new stake in shares of FedEx Corp. during the first quarter valued at about $2,000,000. Kovitz Investment Group Partners LLC purchased a new stake in shares of FedEx Corp. during the first quarter valued at about $466,000. Finally, BNP Paribas Arbitrage SA increased its stake in shares of FedEx Corp. by 37.4% in the second quarter. BNP Paribas Arbitrage SA now owns 288,414 shares of the shipping service provider’s stock valued at $43,775,000 after buying an additional 78,518 shares during the period. Institutional investors own 74.35% of the company’s stock.
Shares of FedEx Corp. (NYSE:FDX) traded up 0.74% during trading on Friday, hitting $191.53. 653,169 shares of the stock were exchanged. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $191.84. The stock’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 price-to-earnings ratio of 28.65 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last announced its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, beating the Zacks’ consensus estimate of $2.81 by $0.09. The company had revenue of $14.70 billion for the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.42 earnings per share. On average, equities analysts predict that FedEx Corp. will post $12.15 earnings per share for the current year.
The company 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 dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. The ex-dividend date is Thursday, December 8th. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
FDX has been the subject of several recent analyst reports. Vetr downgraded shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price for the company. in a research note on Monday, August 8th. Stifel Nicolaus raised their target price on shares of FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research note on Wednesday, September 21st. Barclays PLC reiterated a “buy” rating and issued a $205.00 target price on shares of FedEx Corp. in a research note on Monday, September 19th. Citigroup Inc. reiterated a “buy” rating on shares of FedEx Corp. in a research note on Thursday, September 22nd. Finally, Deutsche Bank AG initiated coverage on shares of FedEx Corp. in a research note on Wednesday, November 2nd. They issued a “buy” rating and a $210.00 target price for the company. Twelve equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. FedEx Corp. has a consensus rating of “Buy” and an average target price of $178.08.
In related news, VP John L. Merino sold 10,280 shares of the company’s stock in a transaction that occurred on Tuesday, November 8th. The shares were sold at an average price of $181.72, for a total transaction of $1,868,081.60. Following the sale, the vice president now owns 29,722 shares of the company’s stock, valued at approximately $5,401,081.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 directly owns 27,720 shares in the company, valued at approximately $4,896,738. The disclosure for this sale can be found here. Corporate insiders own 8.67% of the company’s stock.
About FedEx Corp.
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.