Spears Abacus Advisors LLC Buys Shares of 1,100 FedEx Corporation (FDX)
Spears Abacus Advisors LLC bought a new position in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 1,100 shares of the shipping service provider’s stock, valued at approximately $239,000.
Other hedge funds have also recently modified their holdings of the company. Riggs Asset Managment Co. Inc. lifted its holdings in shares of 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 worth $105,000 after buying an additional 300 shares during the period. Cribstone Capital Management LLC lifted its holdings in shares of FedEx Corporation by 1.2% in the 2nd quarter. Cribstone Capital Management LLC now owns 489 shares of the shipping service provider’s stock worth $107,000 after buying an additional 6 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of FedEx Corporation in the 1st quarter worth $100,000. Alexandria Capital LLC lifted its holdings in shares of FedEx Corporation by 2.5% in the 2nd quarter. Alexandria Capital LLC now owns 540 shares of the shipping service provider’s stock worth $117,000 after buying an additional 13 shares during the period. Finally, Hefty Wealth Partners lifted its holdings in shares of FedEx Corporation by 26.0% in the 2nd quarter. Hefty Wealth Partners now owns 630 shares of the shipping service provider’s stock worth $136,000 after buying an additional 130 shares during the period. Institutional investors and hedge funds own 76.16% of the company’s stock.
FDX has been the subject of several research reports. Loop Capital reiterated a “buy” rating and issued a $234.00 target price on shares of FedEx Corporation in a report on Tuesday, July 4th. Cowen and Company reiterated a “buy” rating and issued a $240.00 target price on shares of FedEx Corporation in a report on Tuesday, July 11th. Vetr upgraded FedEx Corporation from a “sell” rating to a “hold” rating and set a $206.26 target price for the company in a report on Tuesday, July 18th. BidaskClub lowered FedEx Corporation from a “strong-buy” rating to a “buy” rating in a research report on Monday, July 31st. Finally, Credit Suisse Group reissued a “buy” rating and issued a $237.00 price target on shares of FedEx Corporation in a research report on Monday, August 7th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus price target of $228.56.
FedEx Corporation (FDX) opened at 225.81 on Wednesday. The stock has a 50 day moving average price of $221.84 and a 200-day moving average price of $208.92. FedEx Corporation has a one year low of $171.60 and a one year high of $231.35. The firm has a market capitalization of $60.55 billion, a price-to-earnings ratio of 21.29 and a beta of 1.31.
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 company had revenue of $15.30 billion during the quarter, compared to analyst estimates of $15.35 billion. FedEx Corporation had a net margin of 4.72% and a return on equity of 20.69%. The business’s revenue was up 4.1% on a year-over-year basis. During the same quarter last year, the firm earned $2.90 EPS. On average, analysts predict that FedEx Corporation will post $12.46 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Monday, October 2nd. Investors of record on Monday, September 11th were given a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.89%. The ex-dividend date was Friday, September 8th. FedEx Corporation’s dividend payout ratio (DPR) is presently 18.87%.
In related news, EVP Donald F. Colleran sold 10,000 shares of the business’s 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 transaction, the executive vice president now owns 30,499 shares in the company, valued at approximately $6,709,780. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Michael L. Ducker sold 14,964 shares of the business’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $225.85, for a total value of $3,379,619.40. Following the completion of the transaction, the chief executive officer now owns 53,397 shares in the company, valued at approximately $12,059,712.45. The disclosure for this sale can be found here. Insiders sold a total of 36,114 shares of company stock worth $8,126,948 in the last 90 days. 8.45% of the stock is currently owned by insiders.
FedEx Corporation 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.
Receive News & Ratings for FedEx Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx Corporation and related companies with Analyst Ratings Network's FREE daily email newsletter.