Callan Family Office LLC grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 14.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,779 shares of the shipping service provider's stock after purchasing an additional 1,748 shares during the period. Callan Family Office LLC's holdings in FedEx were worth $3,359,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Nuveen LLC acquired a new stake in shares of FedEx during the first quarter worth $314,650,000. Dodge & Cox raised its holdings in shares of FedEx by 5.6% during the fourth quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares during the period. ACR Alpine Capital Research LLC raised its holdings in shares of FedEx by 85.9% during 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 period. GAMMA Investing LLC raised its holdings 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 worth $133,003,000 after acquiring an additional 542,605 shares during the period. Finally, Capital Research Global Investors acquired a new stake in shares of FedEx during the fourth quarter worth $145,733,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Insiders Place Their Bets
In other FedEx news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director owned 7,720 shares of the company's stock, valued at $1,829,176.80. This trade represents a 31.86% decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,343 shares of company stock worth $2,228,816 in the last quarter. 8.87% of the stock is currently owned by corporate insiders.
FedEx Stock Performance
Shares of FDX stock traded up $0.80 during midday trading on Thursday, hitting $231.30. 1,615,778 shares of the company were exchanged, compared to its average volume of 2,000,705. The firm has a market capitalization of $54.56 billion, a P/E ratio of 13.70, a PEG ratio of 1.20 and a beta of 1.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The firm's 50 day moving average price is $228.97 and its two-hundred day moving average price is $232.79. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53.
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. The business 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 previous year, the firm posted $5.41 EPS. As a group, equities research analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.
FedEx Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be paid a $1.45 dividend. The ex-dividend date is Monday, September 8th. This represents a $5.80 annualized dividend and a yield of 2.5%. FedEx's payout ratio is 34.36%.
Wall Street Analyst Weigh In
A number of research analysts recently weighed in on the stock. Truist Financial reaffirmed a "buy" rating and issued a $275.00 target price on shares of FedEx in a research report on Wednesday, June 25th. Wall Street Zen raised shares of FedEx from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. JPMorgan Chase & Co. raised their target price on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research report on Wednesday, June 25th. Sanford C. Bernstein decreased their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Finally, BMO Capital Markets decreased their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $283.25.
Read Our Latest Research Report on FDX
FedEx Company Profile
(
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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