Cetera Trust Company N.A acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund acquired 7,560 shares of the shipping service provider's stock, valued at approximately $2,367,000. FedEx accounts for approximately 1.2% of Cetera Trust Company N.A's investment portfolio, making the stock its 22nd biggest holding.
A number of other institutional investors have also added to or reduced their stakes in the stock. Ferguson Wellman Capital Management Inc. increased its position in shares of FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock valued at $296,000 after buying an additional 26 shares during the period. OneAscent Financial Services LLC lifted its holdings in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock worth $491,000 after buying an additional 29 shares in the last quarter. Whipplewood Advisors LLC boosted its position in shares of FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock valued at $119,000 after acquiring an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position in shares of FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock valued at $101,000 after acquiring an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC grew its stake in FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on FDX. BMO Capital Markets reiterated a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. Bank of America boosted their price target on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a research report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a report on Wednesday, June 24th. Jefferies Financial Group assumed coverage on FedEx in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price objective on the stock. Finally, Barclays dropped their price objective on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $350.54.
View Our Latest Stock Analysis on FedEx
FedEx Trading Up 2.8%
Shares of FedEx stock opened at $334.05 on Tuesday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The firm has a market cap of $79.06 billion, a PE ratio of 18.05, a PEG ratio of 1.67 and a beta of 1.30. The company has a 50 day simple moving average of $318.95 and a two-hundred day simple moving average of $351.51.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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%. Analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx's dividend payout ratio is currently 26.36%.
Insiders Place Their Bets
In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is owned by insiders.
FedEx Profile
(
Free Report)
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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