Gulf International Bank UK Ltd decreased its position in FedEx Corp. (NYSE:FDX) by 0.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 79,285 shares of the shipping service provider’s stock after selling 250 shares during the period. Gulf International Bank UK Ltd’s holdings in FedEx Corp. were worth $13,849,000 at the end of the most recent quarter.
A number of other large investors have also made changes to their positions in FDX. First Personal Financial Services raised its stake in shares of FedEx Corp. by 18.6% in the second quarter. First Personal Financial Services now owns 708 shares of the shipping service provider’s stock worth $107,000 after buying an additional 111 shares during the last quarter. Glassman Wealth Services increased its stake in FedEx Corp. by 200.6% in the second quarter. Glassman Wealth Services now owns 974 shares of the shipping service provider’s stock worth $148,000 after buying an additional 650 shares during the period. Beese Fulmer Investment Management Inc. increased its stake in FedEx Corp. by 2.5% in the second quarter. Beese Fulmer Investment Management Inc. now owns 1,319 shares of the shipping service provider’s stock worth $200,000 after buying an additional 32 shares during the period. HBK Sorce Advisory LLC purchased a new stake in FedEx Corp. during the second quarter worth $202,000. Finally, Park National Corp OH purchased a new stake in FedEx Corp. during the third quarter worth $204,000. Hedge funds and other institutional investors own 73.96% of the company’s stock.
FedEx Corp. (NYSE:FDX) traded down 0.77% during midday trading on Monday, hitting $190.05. The stock had a trading volume of 1,195,957 shares. The company’s 50-day moving average price is $177.63 and its 200 day moving average price is $166.56. FedEx Corp. has a 52 week low of $119.71 and a 52 week high of $191.84. The company has a market capitalization of $50.51 billion, a PE ratio of 28.43 and a beta of 1.14.
FedEx Corp. (NYSE:FDX) last posted its quarterly earnings data on Tuesday, September 20th. The shipping service provider reported $2.90 EPS for the quarter, topping the Zacks’ 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 last year, the business earned $2.42 EPS. FedEx Corp.’s revenue was up 19.5% on a year-over-year basis. On average, analysts expect that FedEx Corp. will post $12.15 EPS for the current year.
The business 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. The ex-dividend date is Thursday, December 8th. This represents a $1.60 dividend on an annualized basis and a yield of 0.84%. FedEx Corp.’s dividend payout ratio (DPR) is presently 23.99%.
A number of equities research analysts have recently weighed in on the company. Vetr downgraded FedEx Corp. from a “buy” rating to a “hold” rating and set a $199.16 price target for the company. in a research note on Monday. Stifel Nicolaus raised their price target on FedEx Corp. from $179.00 to $186.00 and gave the stock a “buy” rating in a research note on Wednesday, September 21st. Cowen and Company reaffirmed a “market perform” rating and set a $110.00 price target on shares of FedEx Corp. in a research note on Sunday, July 31st. Zacks Investment Research raised FedEx Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, September 22nd. Finally, Barclays PLC reissued a “top pick” rating on shares of FedEx Corp. in a research note on Wednesday, September 21st. Twelve analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $179.22.
In other FedEx Corp. news, EVP Robert B. Carter sold 24,784 shares of the firm’s 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 sale, the executive vice president now owns 68,183 shares of the company’s stock, valued at approximately $12,064,981.85. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP John L. Merino sold 10,280 shares of the firm’s stock in a transaction on Tuesday, November 8th. The shares were sold at an average price of $181.72, for a total value of $1,868,081.60. Following the completion of the sale, the vice president now directly owns 29,722 shares in the company, valued at approximately $5,401,081.84. The disclosure for this sale can be found here. Company insiders own 8.67% of the company’s stock.
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.