FedEx Corporation $FDX Stake Raised by Kestra Advisory Services LLC

Key Points

• Kestra Advisory Services increased its FedEx stake by 20.6% in the third quarter, adding 9,598 shares to hold 56,237 shares valued at about $16.0 million.
• FedEx reported quarterly earnings of $3.74 per share, beating the $3.34 consensus estimate, while revenue rose 12.3% year over year to $22.93 billion.
• Analysts’ consensus rating was “Moderate Buy,” with an average price target of $359.16. Two executives also reported stock sales in late October and early November.

Kestra Advisory Services LLC raised its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 20.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 56,237 shares of the shipping service provider's stock after acquiring an additional 9,598 shares during the quarter. Kestra Advisory Services LLC's holdings in FedEx were worth $16,033,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. BlackRock Inc. acquired a new position in shares of FedEx in the 2nd quarter worth approximately $6,508,103,000. Primecap Management Co. CA acquired a new position in shares of FedEx in the 2nd quarter valued at about $2,554,138,000. Dimensional Fund Advisors LP lifted its position in FedEx by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider's stock worth $936,688,000 after buying an additional 52,963 shares in the last quarter. Bank of New York Mellon Corp increased its position in FedEx by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider's stock worth $760,328,000 after purchasing an additional 125,950 shares during the last quarter. Finally, Bank of America Corp DE acquired a new position in FedEx in the second quarter worth approximately $579,171,000. Institutional investors own 84.47% of the company's stock.

Insider Buying and Selling

In related news, EVP Tracy Brightman sold 26,611 shares of the firm's stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the transaction, the executive vice president owned 12,245 shares in the company, valued at $3,877,746.60. This trade represents a 68.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Gina Adams sold 3,014 shares of the firm's stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $317.06, for a total value of $955,618.84. Following the transaction, the executive vice president owned 9,656 shares of the company's stock, valued at $3,061,531.36. This trade represents a 23.79% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.65% of the company's stock.

FedEx Price Performance

NYSE:FDX opened at $307.81 on Monday. FedEx Corporation has a 52 week low of $202.95 and a 52 week high of $345.36. The company has a debt-to-equity ratio of 0.50, a quick ratio of 1.29 and a current ratio of 1.33. The company has a market capitalization of $72.09 billion, a price-to-earnings ratio of 18.93, a PEG ratio of 1.24 and a beta of 1.27. The company has a 50-day moving average of $302.89 and a 200-day moving average of $337.37.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, topping analysts' consensus estimates of $3.34 by $0.40. The firm had revenue of $22.93 billion during the quarter, compared to analysts' expectations of $22.73 billion. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The company's revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter last year, the company earned $3.83 earnings per share. As a group, equities research analysts anticipate that FedEx Corporation will post 18.29 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's dividend payout ratio is presently 30.01%.

Wall Street Analyst Weigh In

Several research firms recently issued reports on FDX. Bank of America reduced their price objective on shares of FedEx from $378.00 to $359.00 and set a "buy" rating for the company in a research note on Tuesday, October 27th. Sanford C. Bernstein set a $377.00 price target on FedEx in a report on Monday, October 26th. JPMorgan Chase & Co. lifted their price target on shares of FedEx from $399.00 to $400.00 and gave the company an "overweight" rating in a research report on Thursday, October 29th. Citigroup lifted their price target on shares of FedEx from $373.00 to $374.00 and gave the company a "buy" rating in a research report on Monday, November 2nd. Finally, Truist Financial reduced their price objective on shares of FedEx from $365.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday, October 7th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $359.16.

FedEx Company Profile

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.

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