FedEx Corporation $FDX Stock: Candriam S.C.A. Grows Holdings

Key Points

• Candriam S.C.A. increased its FedEx stake by 28.2% in the third quarter, adding 8,811 shares to bring its holding to 40,096 shares, valued at about $11.5 million.
• FedEx reported quarterly earnings of $3.74 per share, topping the $3.34 analyst consensus; revenue rose 12.3% year over year to $22.93 billion.
• Analysts’ overall rating was “Moderate Buy,” with an average price target of $359.16. FedEx also pays an annualized dividend of $4.88 per share, a yield of about 1.5% at the article’s cited price.

Candriam S.C.A. raised its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 28.2% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 40,096 shares of the shipping service provider's stock after purchasing an additional 8,811 shares during the quarter. Candriam S.C.A.'s holdings in FedEx were worth $11,473,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the company. OMERS ADMINISTRATION Corp grew its stake in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after purchasing an additional 8,868 shares during the last quarter. First Nebraska Trust Co bought a new stake in shares of FedEx in the 1st quarter worth approximately $10,675,000. NewEdge Advisors LLC lifted its stake in FedEx by 74.1% during the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider's stock valued at $10,757,000 after purchasing an additional 14,624 shares during the last quarter. Tidal Investments LLC lifted its stake in FedEx by 9.8% during the second quarter. Tidal Investments LLC now owns 48,662 shares of the shipping service provider's stock valued at $15,238,000 after purchasing an additional 4,340 shares during the last quarter. Finally, Archer Investment Corp acquired a new stake in FedEx during the second quarter valued at approximately $1,147,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX opened at $318.72 on Tuesday. The company has a market capitalization of $74.64 billion, a price-to-earnings ratio of 19.60, a P/E/G ratio of 1.33 and a beta of 1.27. FedEx Corporation has a fifty-two week low of $202.95 and a fifty-two week high of $345.36. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. The business's 50-day moving average is $302.64 and its 200-day moving average is $337.42.

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

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio is presently 30.01%.

Insiders Place Their Bets

In other news, EVP Tracy B. Brightman sold 26,611 shares of the company's stock in a transaction on Friday, October 30th. The shares were sold at an average price of $316.68, for a total value of $8,427,171.48. Following the transaction, the executive vice president directly owned 12,245 shares of the company's stock, valued at approximately $3,877,746.60. This represents a 68.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Gina F. Adams sold 3,014 shares of the stock in a transaction 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 sale, the executive vice president owned 9,656 shares of the company's stock, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.65% of the company's stock.

Analyst Ratings Changes

FDX has been the subject of a number of research reports. Wall Street Zen upgraded shares of FedEx to a "hold" rating in a report on Saturday, August 8th. Sanford C. Bernstein set a $377.00 price target on FedEx in a report on Monday, October 26th. Truist Financial cut their price objective on FedEx from $365.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, October 7th. Raymond James Financial set a $162.00 price objective on FedEx in a research note on Tuesday, November 3rd. Finally, JPMorgan Chase & Co. lifted their target price on FedEx from $399.00 to $400.00 and gave the stock an "overweight" rating in a report on Thursday, October 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, FedEx has an average rating of "Moderate Buy" and an average target price of $359.16.

FedEx 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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