Achmea Investment Management B.V. grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 43.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 46,680 shares of the shipping service provider's stock after purchasing an additional 14,134 shares during the quarter. Achmea Investment Management B.V.'s holdings in FedEx were worth $11,380,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently modified their holdings of the company. Philip James Wealth Mangement LLC boosted its stake in shares of FedEx by 4.6% in the 1st quarter. Philip James Wealth Mangement LLC now owns 25,663 shares of the shipping service provider's stock valued at $6,256,000 after purchasing an additional 1,122 shares during the last quarter. Diversified Trust Co boosted its stake in shares of FedEx by 11.4% in the 1st quarter. Diversified Trust Co now owns 8,578 shares of the shipping service provider's stock valued at $2,091,000 after purchasing an additional 877 shares during the last quarter. Falcon Wealth Planning boosted its stake in shares of FedEx by 32.5% in the 1st quarter. Falcon Wealth Planning now owns 1,198 shares of the shipping service provider's stock valued at $292,000 after purchasing an additional 294 shares during the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of FedEx by 3.6% in the 1st quarter. Beech Hill Advisors Inc. now owns 7,275 shares of the shipping service provider's stock valued at $1,774,000 after purchasing an additional 250 shares during the last quarter. Finally, KPP Advisory Services LLC lifted its position in shares of FedEx by 51.1% during the 1st quarter. KPP Advisory Services LLC now owns 1,499 shares of the shipping service provider's stock valued at $365,000 after acquiring an additional 507 shares during the period. 84.47% of the stock is owned by institutional investors.
Analyst Ratings Changes
A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $315.00 target price on shares of FedEx in a research report on Wednesday. TD Cowen dropped their target price on shares of FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday. Susquehanna boosted their target price on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday. Finally, Bank of America dropped their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average price target of $283.00.
Read Our Latest Report on FDX
FedEx Stock Up 3.8%
Shares of FDX stock traded up $8.30 on Friday, hitting $229.37. The stock had a trading volume of 4,051,499 shares, compared to its average volume of 1,848,267. The business has a 50 day moving average of $220.19 and a 200 day moving average of $242.96. The stock has a market cap of $54.96 billion, a price-to-earnings ratio of 13.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.19. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84.
FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. The company had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the company posted $5.41 earnings per share. As a group, analysts expect that FedEx Corporation will post 19.14 EPS for the current year.
FedEx Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.53%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 36.39%.
About FedEx
(
Free Report)
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.
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