FedEx Corporation (FDX) Shares Sold by Huber Capital Management LLC
Huber Capital Management LLC cut its position in FedEx Corporation (NYSE:FDX) by 0.4% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 116,795 shares of the shipping service provider’s stock after selling 500 shares during the quarter. Huber Capital Management LLC’s holdings in FedEx Corporation were worth $25,383,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FDX. FNY Managed Accounts LLC bought a new stake in FedEx Corporation in the 1st quarter valued at $100,000. Riggs Asset Managment Co. Inc. boosted its stake in FedEx Corporation by 163.0% in the 2nd quarter. Riggs Asset Managment Co. Inc. now owns 484 shares of the shipping service provider’s stock valued at $105,000 after purchasing an additional 300 shares during the period. Cribstone Capital Management LLC boosted its stake in FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock valued at $107,000 after purchasing an additional 6 shares during the period. Alexandria Capital LLC boosted its stake in FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock valued at $117,000 after purchasing an additional 13 shares during the period. Finally, Hefty Wealth Partners boosted its stake in FedEx Corporation by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock valued at $136,000 after purchasing an additional 130 shares during the period. Institutional investors and hedge funds own 76.16% of the company’s stock.
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FedEx Corporation (NYSE FDX) opened at 225.81 on Wednesday. The firm has a 50-day moving average price of $221.84 and a 200-day moving average price of $208.92. The firm has a market cap of $60.55 billion, a PE ratio of 21.29 and a beta of 1.31. FedEx Corporation has a one year low of $171.60 and a one year high of $231.35.
FedEx Corporation (NYSE:FDX) last released its quarterly earnings data on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.17 by ($0.66). The company had revenue of $15.30 billion during the quarter, compared to analysts’ expectations of $15.35 billion. FedEx Corporation had a return on equity of 20.69% and a net margin of 4.72%. The firm’s quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.90 EPS. On average, equities analysts expect that FedEx Corporation will post $12.46 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 2nd. Stockholders of record on Monday, September 11th were issued a $0.50 dividend. The ex-dividend date was Friday, September 8th. This represents a $2.00 annualized dividend and a dividend yield of 0.89%. FedEx Corporation’s dividend payout ratio is currently 18.87%.
In other news, insider Henry J. Maier sold 11,150 shares of FedEx Corporation stock in a transaction dated Thursday, October 26th. The stock was sold at an average price of $228.46, for a total value of $2,547,329.00. Following the transaction, the insider now owns 36,747 shares in the company, valued at $8,395,219.62. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Donald F. Colleran sold 10,000 shares of FedEx Corporation stock in a transaction dated Thursday, September 21st. The stock was sold at an average price of $220.00, for a total value of $2,200,000.00. Following the completion of the transaction, the executive vice president now owns 30,499 shares in the company, valued at approximately $6,709,780. The disclosure for this sale can be found here. In the last quarter, insiders sold 36,114 shares of company stock worth $8,126,948. Company insiders own 8.45% of the company’s stock.
Several analysts recently issued reports on the company. Cowen and Company restated a “buy” rating and issued a $240.00 price target on shares of FedEx Corporation in a research note on Thursday, August 10th. Oppenheimer Holdings, Inc. restated a “buy” rating and issued a $229.00 price target on shares of FedEx Corporation in a research note on Wednesday, September 20th. BidaskClub downgraded FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research note on Monday, July 31st. Stifel Nicolaus restated a “hold” rating and issued a $221.00 price target (up from $216.00) on shares of FedEx Corporation in a research note on Wednesday, September 20th. Finally, Wells Fargo & Company boosted their price target on FedEx Corporation from $235.00 to $240.00 and gave the company an “outperform” rating in a research note on Thursday, September 21st. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-two have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $228.56.
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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