Old National Bancorp IN has increased its position in FedEx Co. by 43.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor now owns 3,319 shares of the shipping service provider’s stock, worth $823,000. Other hedge funds have also bought and sold shares of the company.
Bank Julius Baer & Co. Ltd Zurich grew its stake in FedEx by 97,178.0% during the second quarter, now owning 209,510,584 shares worth $51,937,674,000. Morgan Stanley boosted its holdings by 19.6% during the fourth quarter and FMR LLC increased its holdings by 17.2% during the first quarter. Norges Bank also acquired a stake in FedEx during the fourth quarter. Arrowstreet Capital Limited Partnership boosted its stake in the company by 2.0% during the first quarter.
Several equities research analysts have recently issued reports on FDX shares. Deutsche Bank Aktiengesellschaft raised its target price on FedEx from $255.00 to $295.00 and gave the stock a “buy” rating. HSBC initiated coverage on FedEx with a “buy” rating and a target price of $330.00. UBS Group raised its price target to $323.00 and rated the stock as “buy.” Sanford C. Bernstein raised their price objective to $284.00 and Raymond James gave the stock an “outperform” rating with a target price of $279.00. Overall, the stock has an average rating of “Moderate Buy” and a consensus price target of $277.84.
In other news, Vice President Jennifer L. Johnson sold 13,348 shares of the company’s stock at an average price of $258.25, totaling $3,447,121.00. Executive Vice President Michael C. Lenz also sold 5,745 shares at an average price of $261.88, totaling $1,504,500.60.
FedEx Corp. is a transportation and logistics company that offers a range of services including shipping, e-commerce, business services, and solutions. The company reported earnings per share of $4.55 for the latest quarter, beating the consensus estimate of $3.71. FedEx had a return on equity of 16.14% and a net margin of 4.71%. The company’s revenue was $21.68 billion, slightly lower than analysts’ expectations.
FedEx recently declared a quarterly dividend of $1.26 per share, representing an annualized dividend of $5.04 and a yield of 1.95%.
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Definitions:
– Stake: The number of shares owned by an investor or institution in a particular company.
– Hedge Fund: An investment fund that pools capital from accredited individuals or institutional investors and invests in a variety of assets.
– Equities Research Analysts: Professionals who analyze securities and make recommendations on whether to buy, sell, or hold a particular investment. They use financial data and market trends to determine the value of a company’s stock.
– Target Price: The projected price at which an analyst believes a stock will trade in the future, based on their analysis of the company’s performance and market conditions.
– Dividend: A payment made by a corporation to its shareholders, usually paid out of the company’s profits. It is usually paid on a regular basis (quarterly, semi-annually, or annually) and represents a portion of the company’s earnings.
– Earnings per Share (EPS): A financial metric that indicates the profitability of a company. It is calculated by dividing the company’s net income by its total number of outstanding shares.
– Return on Equity (ROE): A measure of a company’s profitability that calculates the rate of return on shareholders’ equity. It is calculated by dividing net income by shareholders’ equity.
– Net Margin: The percentage of revenue that remains as profit after deducting all expenses, including taxes and interest.
– Consensus Price Target: The average target price given by multiple analysts covering a particular stock.