3,632 Shares in FedEx Corporation $FDX Bought by Sawyer & Company Inc

Key Points

• Sawyer & Company acquired 3,632 FedEx shares worth approximately $1.04 million in the third quarter. Several other investment firms also increased their positions, while institutional investors collectively own 84.47% of FedEx.
• Analyst sentiment remains positive but mixed: FedEx has a consensus “Moderate Buy” rating and an average price target of $354.64, despite some downgrades and price-target reductions.
• FedEx shares recently traded at $298.68, below their 50-day and 200-day moving averages. The company reported quarterly EPS of $5.88 and revenue of $23.26 billion, and pays an annualized dividend of $4.88 per share, yielding 1.6%.

Sawyer & Company Inc bought a new position in FedEx Corporation (NYSE:FDX - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,632 shares of the shipping service provider's stock, valued at approximately $1,035,000.

Other large investors have also added to or reduced their stakes in the company. Diversify Advisory Services LLC grew its stake in shares of FedEx by 25.0% during the 3rd quarter. Diversify Advisory Services LLC now owns 4,906 shares of the shipping service provider's stock valued at $1,450,000 after purchasing an additional 980 shares during the period. Rare Wolf Capital LLC increased its holdings in FedEx by 6.0% during the third quarter. Rare Wolf Capital LLC now owns 2,119 shares of the shipping service provider's stock valued at $604,000 after buying an additional 120 shares during the last quarter. MBM Wealth Consultants LLC raised its position in FedEx by 7.5% in the third quarter. MBM Wealth Consultants LLC now owns 7,915 shares of the shipping service provider's stock worth $2,256,000 after acquiring an additional 551 shares during the period. Net Worth Advisory Group raised its position in FedEx by 18.6% in the third quarter. Net Worth Advisory Group now owns 3,366 shares of the shipping service provider's stock worth $966,000 after acquiring an additional 529 shares during the period. Finally, Focused Alpha LLC boosted its stake in shares of FedEx by 43.3% during the 3rd quarter. Focused Alpha LLC now owns 2,036 shares of the shipping service provider's stock worth $580,000 after acquiring an additional 615 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on FDX. Weiss Ratings downgraded shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, September 2nd. Citigroup reaffirmed a "cautious" rating on shares of FedEx in a report on Wednesday, October 7th. Wall Street Zen raised FedEx to a "hold" rating in a report on Saturday, August 8th. Stephens upgraded FedEx to a "strong-buy" rating in a research report on Wednesday, July 8th. Finally, Truist Financial decreased their price objective on FedEx from $365.00 to $350.00 and set a "buy" rating on the stock in a research note on Wednesday, October 7th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $354.64.

FedEx Price Performance

Shares of FDX traded down $0.08 during trading hours on Wednesday, reaching $298.68. 247,529 shares of the stock traded hands, compared to its average volume of 2,002,354. The company has a market cap of $70.69 billion, a P/E ratio of 16.14, a price-to-earnings-growth ratio of 1.50 and a beta of 1.28. 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's 50-day moving average price is $308.35 and its two-hundred day moving average price is $333.24. FedEx Corporation has a 52-week low of $187.62 and a 52-week high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, analysts anticipate that FedEx Corporation will post 18.27 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company's services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.

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