Dumont & Blake Investment Advisors LLC raised its stake in shares of FedEx Corporation (NYSE:FDX) by 0.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,950 shares of the shipping service provider’s stock after buying an additional 25 shares during the period. Dumont & Blake Investment Advisors LLC’s holdings in FedEx Corporation were worth $1,214,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of FDX. Columbus Circle Investors boosted its position in shares of FedEx Corporation by 7.1% in the second quarter. Columbus Circle Investors now owns 371,150 shares of the shipping service provider’s stock valued at $56,333,000 after buying an additional 24,449 shares during the period. Kentucky Retirement Systems bought a new position in shares of FedEx Corporation during the second quarter valued at $3,222,000. Grandfield & Dodd LLC boosted its position in shares of FedEx Corporation by 5.0% in the second quarter. Grandfield & Dodd LLC now owns 78,590 shares of the shipping service provider’s stock valued at $11,929,000 after buying an additional 3,733 shares during the period. Zacks Investment Management boosted its position in shares of FedEx Corporation by 185.0% in the second quarter. Zacks Investment Management now owns 75,473 shares of the shipping service provider’s stock valued at $11,455,000 after buying an additional 48,993 shares during the period. Finally, Highland Capital Management LLC boosted its position in shares of FedEx Corporation by 1.3% in the third quarter. Highland Capital Management LLC now owns 63,250 shares of the shipping service provider’s stock valued at $11,049,000 after buying an additional 794 shares during the period. 74.55% of the stock is owned by institutional investors and hedge funds.
Shares of FedEx Corporation (NYSE:FDX) opened at 195.92 on Friday. The company has a market cap of $52.21 billion, a P/E ratio of 28.79 and a beta of 1.17. The company has a 50-day moving average price of $191.26 and a 200-day moving average price of $176.38. FedEx Corporation has a 52-week low of $122.78 and a 52-week high of $201.57.
FedEx Corporation (NYSE:FDX) last posted its quarterly earnings data on Tuesday, December 20th. The shipping service provider reported $2.80 EPS for the quarter, missing the consensus estimate of $2.90 by $0.10. FedEx Corporation had a return on equity of 22.02% and a net margin of 3.35%. The company earned $14.90 billion during the quarter. During the same quarter in the prior year, the business earned $2.58 earnings per share. The firm’s revenue for the quarter was up 19.2% on a year-over-year basis. On average, equities analysts predict that FedEx Corporation will post $11.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th were paid a $0.40 dividend. This represents a $1.60 annualized dividend and a dividend yield of 0.82%. The ex-dividend date was Thursday, December 8th. FedEx Corporation’s dividend payout ratio (DPR) is currently 23.46%.
A number of research firms have recently commented on FDX. Zacks Investment Research cut FedEx Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, January 10th. Cowen and Company lifted their target price on FedEx Corporation from $180.00 to $240.00 and gave the stock an “outperform” rating in a research note on Friday, December 16th. Vetr cut FedEx Corporation from a “buy” rating to a “hold” rating and set a $199.16 target price on the stock. in a research note on Monday, November 28th. Deutsche Bank AG began coverage on FedEx Corporation in a research note on Thursday, November 24th. They set a “buy” rating on the stock. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $210.00 target price on shares of FedEx Corporation in a research note on Tuesday, January 24th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and thirteen have assigned a buy rating to the stock. FedEx Corporation currently has a consensus rating of “Buy” and an average price target of $193.95.
In other news, VP John L. Merino sold 10,280 shares of the firm’s stock in a transaction dated Tuesday, November 8th. The stock was sold at an average price of $181.72, for a total value of $1,868,081.60. Following the transaction, the vice president now owns 29,722 shares of the company’s stock, valued at $5,401,081.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David J. Bronczek sold 36,529 shares of the firm’s stock in a transaction dated Thursday, December 22nd. The stock was sold at an average price of $192.08, for a total value of $7,016,490.32. Following the completion of the transaction, the chief executive officer now directly owns 83,716 shares in the company, valued at approximately $16,080,169.28. The disclosure for this sale can be found here. Insiders sold 81,389 shares of company stock worth $15,496,960 in the last ninety days. Corporate insiders own 8.67% of the company’s stock.
About FedEx Corporation
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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