Life Insurance

FedEx Corporation (FDX) Holdings Increased by The Manufacturers Life Insurance Company


The Manufacturers Life Insurance Company lifted its position in FedEx Corporation (NYSE:FDX) by 31.2% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 544,222 shares of the shipping service provider’s stock after purchasing an additional 129,391 shares during the period. The Manufacturers Life Insurance Company owned about 0.20% of FedEx Corporation worth $118,275,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Westside Investment Management Inc. increased its stake in shares of FedEx Corporation by 1.7% in the second quarter. Westside Investment Management Inc. now owns 6,193 shares of the shipping service provider’s stock worth $1,355,000 after purchasing an additional 105 shares in the last quarter. Moors & Cabot Inc. grew its stake in FedEx Corporation by 3.6% during the second quarter. Moors & Cabot Inc. now owns 1,663 shares of the shipping service provider’s stock valued at $362,000 after acquiring an additional 58 shares in the last quarter. Caxton Associates LP purchased a new position in FedEx Corporation during the second quarter valued at $11,410,000. Scholtz & Company LLC purchased a new position in FedEx Corporation during the second quarter valued at $2,225,000. Finally, Carret Asset Management LLC grew its stake in FedEx Corporation by 0.7% during the second quarter. Carret Asset Management LLC now owns 21,199 shares of the shipping service provider’s stock valued at $4,607,000 after acquiring an additional 154 shares in the last quarter. 76.22% of the stock is owned by hedge funds and other institutional investors.

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Several equities analysts recently weighed in on FDX shares. Vetr cut shares of FedEx Corporation to a “sell” rating and set a $204.84 target price for the company. in a research note on Thursday, August 31st. J P Morgan Chase & Co lifted their price objective on shares of FedEx Corporation from $237.00 to $264.00 and gave the stock an “overweight” rating in a research note on Thursday, October 12th. Credit Suisse Group reissued an “outperform” rating and issued a $233.00 price objective (down from $242.00) on shares of FedEx Corporation in a research note on Friday, September 15th. Robert W. Baird reissued a “buy” rating and issued a $235.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. Finally, Cowen and Company reissued a “buy” rating and issued a $240.00 price objective on shares of FedEx Corporation in a research note on Tuesday, September 12th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $230.21.

In related news, insider Henry J. Maier sold 11,150 shares of the firm’s stock in a transaction that occurred on Thursday, October 26th. The shares were sold at an average price of $228.46, for a total value of $2,547,329.00. Following the sale, the insider now owns 36,747 shares of the company’s stock, valued at $8,395,219.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Donald F. Colleran sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 disclosure for this sale can be found here. Insiders have sold 40,094 shares of company stock worth $9,024,637 in the last three months. Corporate insiders own 8.45% of the company’s stock.

Shares of FedEx Corporation (NYSE:FDX) opened at $216.00 on Friday. FedEx Corporation has a 1-year low of $182.89 and a 1-year high of $231.35. The company has a debt-to-equity ratio of 0.91, a current ratio of 1.63 and a quick ratio of 1.57. The stock has a market cap of $58,430.00, a PE ratio of 18.47, a P/E/G ratio of 1.38 and a beta of 1.37.

FedEx Corporation (NYSE:FDX) last posted its earnings results on Tuesday, September 19th. The shipping service provider reported $2.51 EPS for the quarter, missing the Zacks’ 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 company’s quarterly revenue was up 4.1% compared to the same quarter last year. During the same period in the previous year, the company earned $2.90 EPS. research analysts expect that FedEx Corporation will post 12.47 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th will be given a dividend of $0.50 per share. This represents a $2.00 annualized dividend and a dividend yield of 0.93%. FedEx Corporation’s dividend payout ratio is presently 18.83%.

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.

Institutional Ownership by Quarter for FedEx Corporation (NYSE:FDX)

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