Banque Cantonale Vaudoise Makes New Investment in FedEx Corporation (NYSE:FDX)

Key Points

• Banque Cantonale Vaudoise acquired a new stake in FedEx Corporation valued at approximately $1.2 million, purchasing 4,890 shares.
• FedEx reported earnings per share of $6.07 for the last quarter, exceeding analyst expectations of $5.98, alongside a net margin of 4.65% and revenue of $22.20 billion.
• The company recently raised its quarterly dividend from $1.38 to $1.45 per share, representing an annualized payout of $5.80 and a dividend yield of 2.6%.

Banque Cantonale Vaudoise bought a new stake in FedEx Corporation (NYSE:FDX - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,890 shares of the shipping service provider's stock, valued at approximately $1,192,000.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Dodge & Cox increased its stake in shares of FedEx by 5.6% in the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. ACR Alpine Capital Research LLC raised its stake in shares of FedEx by 85.9% in the first quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after acquiring an additional 732,266 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of FedEx by 18,202.1% during the first quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after purchasing an additional 542,605 shares during the last quarter. Capital Research Global Investors acquired a new stake in shares of FedEx in the fourth quarter valued at approximately $145,733,000. Finally, Worldquant Millennium Advisors LLC raised its position in FedEx by 276.1% in the 4th quarter. Worldquant Millennium Advisors LLC now owns 433,789 shares of the shipping service provider's stock worth $122,038,000 after purchasing an additional 318,448 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Transactions at FedEx

In other news, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares in the company, valued at $1,829,176.80. This trade represents a 31.86% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director directly owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 in the last quarter. 8.87% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FDX shares. Stifel Nicolaus set a $315.00 price target on shares of FedEx in a research report on Wednesday, June 25th. Sanford C. Bernstein reduced their price objective on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research note on Friday, June 13th. Citigroup upped their price target on shares of FedEx from $259.00 to $278.00 and gave the company a "buy" rating in a report on Wednesday, July 9th. Wells Fargo & Company lifted their price target on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. Finally, Truist Financial reiterated a "buy" rating and set a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, FedEx presently has an average rating of "Moderate Buy" and an average price target of $283.25.

FedEx Trading Down 2.9%

Shares of NYSE:FDX traded down $6.47 during mid-day trading on Friday, reaching $217.02. 2,211,970 shares of the company's stock were exchanged, compared to its average volume of 1,851,030. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The firm has a market capitalization of $51.20 billion, a price-to-earnings ratio of 12.86, a PEG ratio of 1.13 and a beta of 1.30. The business's fifty day moving average price is $227.85 and its 200-day moving average price is $235.48.

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, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the business earned $5.41 EPS. On average, research analysts predict that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a dividend of $1.45 per share. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.7%. FedEx's payout ratio is 34.36%.

FedEx Profile

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.