Stock Markets17 hours ago (Jan 08, 2021 04:30PM ET)
© Reuters. Dodge & Cox reduced stake in FedEx Corporation
On the 31st of December, Dodge & Cox sold 13 million FedEx Corporation (NYSE:) shares for $3.5 billion at an average price of $259.62 per share.
Shares of FedEx Corporation are down -5.23% since the transaction.
Dodge & Cox’s holding in FedEx Corporation decreased to about 14 million shares with the transaction.
Dodge & Cox first bought FedEx Corporation stock in the first quarter of 2001.
Other investors who also reduced their FedEx Corporation shares include Causeway Capital Management, Harris Associates, and Hotchkis & Wiley Capital Management.
Contrary to Dodge & Cox, Bridgewater Associates, California State Teachers Retirement System, and Citigroup (NYSE:) added to FDX shares, while Bahl & Gaynor, Capital Growth Management, and First Dallas Securities established new holdings in FedEx Corporation.
Dodge & Cox also added to their share in Fox Corp (FOXA).
The total value of the shares bought is estimated at around $370 million.
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.