FedEx Corporation $FDX Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors has reduced its position in FedEx by 1.3%, now owning approximately 0.90% of the company worth $527 million.
• Several hedge funds, including Vanguard and Invesco, have increased their stakes in FedEx, indicating ongoing institutional interest.
• FedEx recently declared a quarterly dividend of $1.45 per share, reflecting an annualized payout of $5.80 and a yield of 2.5%.

Dimensional Fund Advisors LP lessened its stake in FedEx Corporation (NYSE:FDX - Free Report) by 1.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 2,163,312 shares of the shipping service provider's stock after selling 29,489 shares during the period. Dimensional Fund Advisors LP owned about 0.90% of FedEx worth $527,294,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in FDX. Brighton Jones LLC grew its stake in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after acquiring an additional 207 shares in the last quarter. Townsquare Capital LLC grew its stake in shares of FedEx by 26.5% in the fourth quarter. Townsquare Capital LLC now owns 2,231 shares of the shipping service provider's stock worth $628,000 after acquiring an additional 467 shares in the last quarter. CreativeOne Wealth LLC grew its stake in shares of FedEx by 50.8% in the fourth quarter. CreativeOne Wealth LLC now owns 3,086 shares of the shipping service provider's stock worth $868,000 after acquiring an additional 1,039 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of FedEx by 25.0% in the fourth quarter. Gabelli Funds LLC now owns 1,000 shares of the shipping service provider's stock worth $281,000 after acquiring an additional 200 shares in the last quarter. Finally, Gamco Investors INC. ET AL grew its stake in shares of FedEx by 103.0% in the fourth quarter. Gamco Investors INC. ET AL now owns 1,711 shares of the shipping service provider's stock worth $481,000 after acquiring an additional 868 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Activity

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the transaction, the director directly owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director R Brad Martin sold 2,123 shares of the business's stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,343 shares of company stock valued at $2,228,816. Insiders own 8.87% of the company's stock.

FedEx Stock Performance

Shares of NYSE:FDX traded up $0.46 on Monday, reaching $227.72. The company's stock had a trading volume of 1,317,886 shares, compared to its average volume of 1,995,097. The stock's 50-day moving average is $229.41 and its two-hundred day moving average is $231.53. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The stock has a market capitalization of $53.72 billion, a P/E ratio of 13.49, a PEG ratio of 1.18 and a beta of 1.30.

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 analysts' consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same period in the prior year, the company earned $5.41 earnings per share. As a group, sell-side analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's dividend payout ratio is presently 34.36%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. TD Cowen dropped their price target on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Truist Financial restated a "buy" rating and issued a $275.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Raymond James Financial reaffirmed an "outperform" rating and set a $260.00 price objective (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. UBS Group decreased their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a research report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus price target of $283.13.

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.