21,079 Shares in FedEx Corporation $FDX Acquired by Bell & Brown Wealth Advisors LLC

Key Points

• Bell & Brown Wealth Advisors acquired 21,079 FedEx shares worth approximately $6.6 million in the second quarter, making FedEx its 15th-largest holding and representing about 2% of its portfolio. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue. The company pays a quarterly dividend of $1.22 per share, or $4.88 annually, yielding about 1.5%.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and an average price target of $350.54, although several firms recently reduced their targets. FedEx shares opened at $328.07, near the upper end of their 12-month range.

Bell & Brown Wealth Advisors LLC acquired a new position in FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 21,079 shares of the shipping service provider's stock, valued at approximately $6,600,000. FedEx accounts for about 2.0% of Bell & Brown Wealth Advisors LLC's portfolio, making the stock its 15th biggest holding.

A number of other large investors also recently bought and sold shares of FDX. Hollencrest Capital Management purchased a new stake in shares of FedEx during the 1st quarter valued at $25,000. Bayban purchased a new stake in shares of FedEx during the first quarter valued at $26,000. Cedar Mountain Advisors LLC grew its holdings in shares of FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock valued at $33,000 after buying an additional 41 shares during the last quarter. EFG International AG acquired a new position in shares of FedEx in the 4th quarter valued at $27,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter valued at $29,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by corporate insiders.

FedEx Stock Down 0.1%

Shares of NYSE FDX opened at $328.07 on Thursday. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The stock has a market cap of $77.65 billion, a PE ratio of 17.72, a P/E/G ratio of 1.69 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average of $319.53 and a 200 day moving average of $351.69.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Analyst Ratings Changes

A number of analysts have commented on FDX shares. Truist Financial lowered their price target on FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a research report on Thursday, June 25th. Seaport Research Partners initiated coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a "buy" rating on the stock. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of FedEx in a research report on Friday, June 26th. Rothschild & Co Redburn decreased their target price on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Finally, Citigroup started coverage on shares of FedEx in a report on Wednesday, July 15th. They set an "outperform" rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $350.54.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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