Commerzbank Aktiengesellschaft FI Invests $7.23 Million in FedEx Corporation $FDX

Key Points

• Commerzbank Aktiengesellschaft FI purchased 23,099 FedEx shares worth approximately $7.23 million during the second quarter. Institutional investors and hedge funds collectively own 84.47% of FedEx.
• FedEx reported quarterly earnings of $5.88 per share on revenue of $23.26 billion, while analysts expect full-year earnings of approximately $17.60 per share. The company pays an annualized dividend of $4.88 per share, yielding about 1.5%.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $350.54, compared with the stock’s recent price of $331.86. However, several firms have recently lowered their price targets, and a company director sold shares worth about $1.64 million.

Commerzbank Aktiengesellschaft FI purchased a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 23,099 shares of the shipping service provider's stock, valued at approximately $7,233,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the 2nd quarter worth $586,000. Canada Post Corp Registered Pension Plan lifted its stake in shares of FedEx by 85.9% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after purchasing an additional 3,138 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after purchasing an additional 6,864 shares during the period. North Dakota State Investment Board purchased a new stake in FedEx during the fourth quarter worth about $2,122,000. Finally, OMERS ADMINISTRATION Corp boosted its holdings in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after buying an additional 8,868 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Down 0.8%

FDX opened at $331.86 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a market cap of $78.51 billion, a P/E ratio of 17.93, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The business's fifty day simple moving average is $319.43 and its 200 day simple moving average is $351.54.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's payout ratio is 26.36%.

Analysts Set New Price Targets

FDX has been the subject of a number of research analyst reports. Stifel Nicolaus dropped their target price on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. BMO Capital Markets restated a "market perform" rating on shares of FedEx in a report on Wednesday, June 24th. Truist Financial dropped their price objective on FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a research note on Thursday, June 25th. Wells Fargo & Company reduced their price objective on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. Finally, Citizens Jmp began coverage on FedEx in a research report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the company's stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

FedEx Profile

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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