Northern Trust Corp Reduces Position in FedEx Co. (NYSE:FDX)
Northern Trust Corp trimmed its position in shares of FedEx Co. (NYSE:FDX) by 0.3% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 2,844,472 shares of the shipping service provider’s stock after selling 7,517 shares during the period. Northern Trust Corp owned approximately 1.08% of FedEx worth $645,866,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its holdings in shares of FedEx by 3.2% during the first quarter. Thrivent Financial for Lutherans now owns 10,295 shares of the shipping service provider’s stock worth $2,472,000 after buying an additional 320 shares during the last quarter. Cetera Advisor Networks LLC grew its holdings in shares of FedEx by 10.9% during the first quarter. Cetera Advisor Networks LLC now owns 5,732 shares of the shipping service provider’s stock worth $1,374,000 after buying an additional 564 shares during the last quarter. Cetera Advisors LLC grew its holdings in shares of FedEx by 36.5% during the first quarter. Cetera Advisors LLC now owns 3,121 shares of the shipping service provider’s stock worth $750,000 after buying an additional 834 shares during the last quarter. Waldron LP purchased a new position in shares of FedEx during the first quarter worth about $230,000. Finally, Minneapolis Portfolio Management Group LLC grew its holdings in shares of FedEx by 1.1% during the first quarter. Minneapolis Portfolio Management Group LLC now owns 150,113 shares of the shipping service provider’s stock worth $36,044,000 after buying an additional 1,636 shares during the last quarter. Institutional investors and hedge funds own 72.77% of the company’s stock.
In other news, Director John A. Edwardson sold 1,160 shares of the business’s stock in a transaction on Wednesday, September 19th. The shares were sold at an average price of $242.35, for a total transaction of $281,126.00. Following the completion of the sale, the director now directly owns 32,800 shares of the company’s stock, valued at approximately $7,949,080. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 8.50% of the stock is owned by insiders.
FDX stock traded up $3.58 during midday trading on Friday, hitting $221.00. The stock had a trading volume of 2,866,641 shares, compared to its average volume of 1,718,134. The stock has a market capitalization of $63.45 billion, a P/E ratio of 14.44, a PEG ratio of 1.09 and a beta of 1.44. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.26 and a current ratio of 1.32. FedEx Co. has a 12-month low of $214.17 and a 12-month high of $274.66.
FedEx (NYSE:FDX) last released its earnings results on Monday, September 17th. The shipping service provider reported $3.46 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $3.78 by ($0.32). The firm had revenue of $17.05 billion during the quarter, compared to analysts’ expectations of $16.88 billion. FedEx had a return on equity of 23.71% and a net margin of 7.16%. The firm’s revenue was up 11.5% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. Research analysts forecast that FedEx Co. will post 17.36 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, October 1st. Stockholders of record on Monday, September 10th were paid a dividend of $0.65 per share. The ex-dividend date was Friday, September 7th. This represents a $2.60 annualized dividend and a dividend yield of 1.18%. FedEx’s dividend payout ratio is presently 16.98%.
FedEx Company Profile
FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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