The North Star Asset Management Inc. decides to keep it stake in FedEx Corp. (FDX) to the level of $5,006,000

The North Star Asset Management Inc. decides to keep it stake in FedEx Corp. (FDX) to the level of $5,006,000

North Star Asset Management Inc. boosted its stake in shares of FedEx Corp. (NYSE:FDX) by 4.6% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 32,986 shares of the shipping service provider’s stock after buying an additional 1,460 shares during the period. North Star Asset Management Inc.’s holdings in FedEx Corp. were worth $5,006,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in FDX. Eads & Heald Investment Counsel raised its position in shares of FedEx Corp. by 18.7% in the second quarter. Eads & Heald Investment Counsel now owns 2,602 shares of the shipping service provider’s stock valued at $395,000 after buying an additional 410 shares in the last quarter. Smithfield Trust Co. raised its position in shares of FedEx Corp. by 3.3% in the second quarter. Smithfield Trust Co. now owns 1,491 shares of the shipping service provider’s stock valued at $227,000 after buying an additional 47 shares in the last quarter. Chatham Capital Group Inc. raised its position in shares of FedEx Corp. by 3.6% in the second quarter. Chatham Capital Group Inc. now owns 17,390 shares of the shipping service provider’s stock valued at $2,639,000 after buying an additional 612 shares in the last quarter. Wedge Capital Management L L P NC raised its position in shares of FedEx Corp. by 1.1% in the second quarter. Wedge Capital Management L L P NC now owns 57,269 shares of the shipping service provider’s stock valued at $8,692,000 after buying an additional 618 shares in the last quarter. Finally, Moody Lynn & Lieberson LLC bought a new position in shares of FedEx Corp. during the second quarter valued at $3,145,000. Institutional investors and hedge funds own 73.73% of the company’s stock.

FedEx Corp. (NYSE:FDX) traded up 0.09% during mid-day trading on Friday, reaching $171.10. 359,227 shares of the company’s stock traded hands. The stock has a 50 day moving average of $168.56 and a 200 day moving average of $163.60. The company has a market cap of $45.47 billion, a P/E ratio of 25.59 and a beta of 1.28. FedEx Corp. has a 12-month low of $119.71 and a 12-month high of $177.36.

FedEx Corp. (NYSE:FDX) last posted its quarterly earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.81 by $0.09. The business earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.42 earnings per share. On average, equities research analysts predict that FedEx Corp. will post $12.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 3rd. Shareholders of record on Monday, September 12th were given a $0.40 dividend. The ex-dividend date of this dividend was Thursday, September 8th. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.94%. FedEx Corp.’s payout ratio is currently 23.99%.

Several equities analysts have recently weighed in on the stock. Cowen and Company reiterated a “buy” rating and set a $180.00 price objective on shares of FedEx Corp. in a report on Saturday, June 18th. Stifel Nicolaus reiterated a “buy” rating and set a $179.00 price objective (up previously from $178.00) on shares of FedEx Corp. in a report on Wednesday, June 22nd. Oppenheimer Holdings Inc. upped their price objective on shares of FedEx Corp. from $180.00 to $184.00 and gave the company an “outperform” rating in a report on Wednesday, September 21st. Vetr upgraded shares of FedEx Corp. from a “buy” rating to a “strong-buy” rating and set a $179.94 price objective on the stock in a report on Tuesday, August 2nd. Finally, Citigroup Inc. reiterated a “buy” rating and set a $200.00 price objective on shares of FedEx Corp. in a report on Wednesday, June 22nd. Ten research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $176.59.

In other FedEx Corp. news, 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 completion of the transaction, the chief executive officer now directly owns 85,356 shares in the company, valued at $15,048,262.80. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christine P. Richards sold 80,080 shares of the company’s stock in a transaction that occurred on Monday, October 10th. The stock was sold at an average price of $173.59, for a total transaction of $13,901,087.20. Following the completion of the transaction, the executive vice president now owns 98,620 shares of the company’s stock, valued at $17,119,445.80. The disclosure for this sale can be found here. 8.67% of the stock is currently owned by company 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.

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