FedEx Corporation (FDX) Shares Bought by AGF Investments Inc.
AGF Investments Inc. raised its stake in FedEx Corporation (NYSE:FDX) by 42.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 407,277 shares of the shipping service provider’s stock after buying an additional 121,877 shares during the period. FedEx Corporation accounts for 1.0% of AGF Investments Inc.’s holdings, making the stock its 23rd largest holding. AGF Investments Inc. owned approximately 0.15% of FedEx Corporation worth $88,536,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors also recently modified their holdings of FDX. Vanguard Group Inc. lifted its holdings in shares of FedEx Corporation by 5.4% during the first quarter. Vanguard Group Inc. now owns 17,997,225 shares of the shipping service provider’s stock worth $3,512,158,000 after purchasing an additional 918,896 shares during the period. BlackRock Inc. lifted its holdings in shares of FedEx Corporation by 1,912.1% during the first quarter. BlackRock Inc. now owns 14,823,307 shares of the shipping service provider’s stock worth $2,892,768,000 after purchasing an additional 14,086,601 shares during the period. Geode Capital Management LLC lifted its holdings in shares of FedEx Corporation by 8.4% during the first quarter. Geode Capital Management LLC now owns 2,236,044 shares of the shipping service provider’s stock worth $435,698,000 after purchasing an additional 173,544 shares during the period. Davis Selected Advisers lifted its holdings in shares of FedEx Corporation by 265.4% during the second quarter. Davis Selected Advisers now owns 1,684,618 shares of the shipping service provider’s stock worth $366,118,000 after purchasing an additional 1,223,646 shares during the period. Finally, Harbour Capital Advisors LLC lifted its holdings in shares of FedEx Corporation by 21,011.5% during the second quarter. Harbour Capital Advisors LLC now owns 1,424,815 shares of the shipping service provider’s stock worth $6,556,000 after purchasing an additional 1,418,066 shares during the period. Hedge funds and other institutional investors own 75.88% of the company’s stock.
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In other FedEx Corporation news, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction dated Thursday, September 21st. The shares were sold at an average price of $220.00, for a total transaction of $2,200,000.00. Following the completion of the sale, the executive vice president now directly owns 30,499 shares in the company, valued at approximately $6,709,780. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Michael L. Ducker sold 14,964 shares of the firm’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total transaction of $3,379,619.40. Following the sale, the chief executive officer now owns 53,397 shares of the company’s stock, valued at $12,059,712.45. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 27,172 shares of company stock valued at $6,039,193. 8.45% of the stock is owned by company insiders.
A number of equities analysts have recently commented on the stock. Cowen and Company reiterated an “outperform” rating and set a $240.00 price target on shares of FedEx Corporation in a report on Friday. J P Morgan Chase & Co lifted their price target on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a report on Thursday, October 12th. Zacks Investment Research lowered shares of FedEx Corporation from a “hold” rating to a “sell” rating in a report on Monday. Bank of America Corporation reiterated a “buy” rating and set a $247.00 price target (up previously from $240.00) on shares of FedEx Corporation in a report on Friday, October 6th. Finally, KeyCorp assumed coverage on shares of FedEx Corporation in a report on Tuesday, October 10th. They set an “overweight” rating and a $260.00 price target on the stock. Two analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $228.26.
FedEx Corporation (FDX) opened at 221.35 on Tuesday. FedEx Corporation has a 12-month low of $168.00 and a 12-month high of $227.00. The stock has a market capitalization of $59.35 billion, a PE ratio of 20.87 and a beta of 1.31. The company’s 50-day moving average is $217.90 and its 200 day moving average is $206.26.
FedEx Corporation (NYSE:FDX) last issued its quarterly earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The business had revenue of $15.30 billion during the quarter, compared to the consensus estimate of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s revenue was up 4.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.90 earnings per share. On average, equities research analysts expect that FedEx Corporation will post $12.47 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Shareholders of record on Monday, September 11th were paid a dividend of $0.50 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $2.00 dividend on an annualized basis and a yield of 0.90%. FedEx Corporation’s dividend payout ratio is currently 18.87%.
FedEx Corporation 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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