FedEx Corp. (FDX) Stake Boosted by Sei Investments Co.
Sei Investments Co. boosted its position in FedEx Corp. (NYSE:FDX) by 82.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 435,562 shares of the shipping service provider’s stock after buying an additional 196,325 shares during the period. Sei Investments Co.’s holdings in FedEx Corp. were worth $76,083,000 as of its most recent filing with the SEC.
Other institutional investors have also recently bought and sold shares of the company. Euclid Advisors LLC purchased a new position in FedEx Corp. during the first quarter worth approximately $2,000,000. BNP Paribas Arbitrage SA raised its stake in shares of FedEx Corp. by 37.4% in the second quarter. BNP Paribas Arbitrage SA now owns 288,414 shares of the shipping service provider’s stock worth $43,775,000 after buying an additional 78,518 shares during the period. Kistler Tiffany Companies LLC raised its stake in shares of FedEx Corp. by 57.1% in the second quarter. Kistler Tiffany Companies LLC now owns 2,389 shares of the shipping service provider’s stock worth $363,000 after buying an additional 868 shares during the period. Curbstone Financial Management Corp raised its stake in shares of FedEx Corp. by 8.9% in the second quarter. Curbstone Financial Management Corp now owns 3,060 shares of the shipping service provider’s stock worth $464,000 after buying an additional 250 shares during the period. Finally, Baxter Bros Inc. bought a new stake in shares of FedEx Corp. during the second quarter worth about $1,239,000. 73.96% of the stock is owned by hedge funds and other institutional investors.
FedEx Corp. (NYSE:FDX) opened at 191.67 on Thursday. The firm has a market capitalization of $50.94 billion, a price-to-earnings ratio of 28.67 and a beta of 1.14. FedEx Corp. has a 52-week low of $119.71 and a 52-week high of $192.58. The firm has a 50-day moving average of $178.12 and a 200-day moving average of $166.84.
FedEx Corp. (NYSE:FDX) last posted its earnings results on Tuesday, September 20th. The shipping service provider reported $2.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.81 by $0.09. The company earned $14.70 billion during the quarter. FedEx Corp. had a net margin of 3.49% and a return on equity of 21.65%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.42 EPS. On average, equities research analysts forecast that FedEx Corp. will post $12.15 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th will be paid a dividend of $0.40 per share. This represents a $1.60 dividend on an annualized basis and a dividend yield of 0.83%. The ex-dividend date is Thursday, December 8th. FedEx Corp.’s dividend payout ratio is presently 23.99%.
A number of equities research analysts have issued reports on FDX shares. Vetr lowered shares of FedEx Corp. from a “strong-buy” rating to a “buy” rating and set a $179.94 target price for the company. in a research note on Monday, August 8th. Zacks Investment Research lowered shares of FedEx Corp. from a “hold” rating to a “sell” rating in a research note on Tuesday, August 23rd. Barclays PLC reissued a “buy” rating and set a $205.00 target price on shares of FedEx Corp. in a research note on Monday, September 19th. Stifel Nicolaus lifted their target price on shares of FedEx Corp. from $179.00 to $186.00 and gave the company a “buy” rating in a research note on Wednesday, September 21st. Finally, Sanford C. Bernstein set a $159.00 target price on shares of FedEx Corp. and gave the company a “neutral” rating in a research note on Wednesday, September 21st. Twelve investment analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $179.22.
In other news, EVP Robert B. Carter sold 24,784 shares of the firm’s stock in a transaction dated Wednesday, September 28th. The shares were sold at an average price of $176.95, for a total transaction of $4,385,528.80. Following the completion of the sale, the executive vice president now owns 68,183 shares in the company, valued at approximately $12,064,981.85. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, 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 transaction of $1,868,081.60. Following the sale, the vice president now owns 29,722 shares of the company’s stock, valued at approximately $5,401,081.84. The disclosure for this sale can be found here. Insiders own 8.67% of the company’s stock.
FedEx Corp. 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.
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