Glassman Wealth Services held its position in FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,274 shares of the shipping service provider’s stock at the end of the first quarter. Glassman Wealth Services’ holdings in FedEx Corporation were worth $249,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of FDX. Alexandria Capital LLC boosted its position in FedEx Corporation by 2.1% in the first quarter. Alexandria Capital LLC now owns 527 shares of the shipping service provider’s stock worth $103,000 after buying an additional 11 shares during the last quarter. Pinnacle Bank purchased a new position in FedEx Corporation during the first quarter worth $122,000. Adirondack Trust Co. boosted its position in FedEx Corporation by 1.5% in the first quarter. Adirondack Trust Co. now owns 662 shares of the shipping service provider’s stock worth $129,000 after buying an additional 10 shares during the last quarter. Brick & Kyle Associates boosted its position in FedEx Corporation by 1.5% in the first quarter. Brick & Kyle Associates now owns 674 shares of the shipping service provider’s stock worth $132,000 after buying an additional 10 shares during the last quarter. Finally, Cohen Capital Management Inc. purchased a new position in FedEx Corporation during the first quarter worth $185,000. 76.25% of the stock is owned by institutional investors.
Shares of FedEx Corporation (FDX) opened at 212.51 on Monday. The firm has a market cap of $57.01 billion, a price-to-earnings ratio of 19.20 and a beta of 1.28. The firm has a 50 day moving average of $212.13 and a 200 day moving average of $196.32. FedEx Corporation has a 52 week low of $158.05 and a 52 week high of $219.99.
FedEx Corporation (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.88 by $0.37. FedEx Corporation had a net margin of 4.97% and a return on equity of 22.19%. The firm had revenue of $15.70 billion during the quarter, compared to the consensus estimate of $15.56 billion. During the same period last year, the firm posted $3.30 EPS. The firm’s quarterly revenue was up 21.0% on a year-over-year basis. Equities analysts predict that FedEx Corporation will post $13.60 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Thursday, July 6th. Investors of record on Thursday, June 22nd were issued a dividend of $0.50 per share. This is an increase from FedEx Corporation’s previous quarterly dividend of $0.40. This represents a $2.00 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend was Tuesday, June 20th. FedEx Corporation’s dividend payout ratio (DPR) is currently 18.08%.
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A number of equities analysts have weighed in on the stock. Zacks Investment Research cut shares of FedEx Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, June 7th. BMO Capital Markets upped their target price on shares of FedEx Corporation from $220.00 to $245.00 and gave the company an “outperform” rating in a research note on Friday, June 23rd. CIBC upped their target price on shares of FedEx Corporation from $218.00 to $229.00 and gave the company an “outperform” rating in a research note on Thursday, June 15th. J P Morgan Chase & Co restated an “overweight” rating and issued a $237.00 target price on shares of FedEx Corporation in a research note on Wednesday, June 21st. Finally, Vetr upgraded shares of FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 target price on the stock in a research note on Tuesday, June 20th. Six research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $221.78.
In related news, VP John L. Merino sold 7,200 shares of FedEx Corporation stock in a transaction dated Thursday, June 22nd. The shares were sold at an average price of $211.26, for a total transaction of $1,521,072.00. Following the completion of the transaction, the vice president now directly owns 33,908 shares of the company’s stock, valued at approximately $7,163,404.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Frederick W. Smith sold 135,000 shares of FedEx Corporation stock in a transaction dated Tuesday, May 2nd. The shares were sold at an average price of $189.02, for a total transaction of $25,517,700.00. Following the transaction, the chief executive officer now directly owns 15,326,133 shares of the company’s stock, valued at $2,896,945,659.66. The disclosure for this sale can be found here. Insiders have sold a total of 210,549 shares of company stock valued at $41,505,553 over the last three months. 8.67% of the stock is currently owned by insiders.
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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