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ACR Alpine Capital Research LLC Has $386.40 Million Stake in FedEx Corporation (NYSE:FDX)

FedEx logo with Transportation background

ACR Alpine Capital Research LLC increased its stake in FedEx Corporation (NYSE:FDX - Free Report) by 85.9% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,585,033 shares of the shipping service provider's stock after acquiring an additional 732,266 shares during the quarter. FedEx accounts for approximately 8.1% of ACR Alpine Capital Research LLC's portfolio, making the stock its 2nd largest position. ACR Alpine Capital Research LLC owned approximately 0.66% of FedEx worth $386,399,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC grew its stake in shares of FedEx by 21.1% in the 1st quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock worth $88,000 after acquiring an additional 63 shares in the last quarter. NBC Securities Inc. bought a new stake in shares of FedEx in the 1st quarter worth $147,000. Farther Finance Advisors LLC grew its stake in shares of FedEx by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after acquiring an additional 481 shares in the last quarter. Allianz SE bought a new stake in shares of FedEx in the 4th quarter worth $18,342,000. Finally, Parvin Asset Management LLC purchased a new position in shares of FedEx in the 4th quarter worth about $281,000. Institutional investors own 84.47% of the company's stock.

Analysts Set New Price Targets

FDX has been the topic of a number of research analyst reports. Cowen reissued a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Barclays reissued an "overweight" rating and issued a $320.00 price target (down previously from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. UBS Group reduced their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 target price on FedEx in a research report on Wednesday, June 25th. Finally, Truist Financial reaffirmed a "buy" rating and issued a $275.00 price target on shares of FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

Get Our Latest Research Report on FedEx

Insider Transactions at FedEx

In other news, Director Marvin R. Ellison sold 3,610 shares of the company's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, the director directly owned 8,935 shares in the company, valued at $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. Insiders have sold 9,343 shares of company stock valued at $2,228,816 in the last ninety days. Corporate insiders own 8.87% of the company's stock.

FedEx Price Performance

FDX stock traded up $6.77 during midday trading on Friday, hitting $243.28. The company's stock had a trading volume of 1,811,699 shares, compared to its average volume of 1,994,019. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $57.39 billion, a price-to-earnings ratio of 14.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. The company has a 50 day moving average of $227.02 and a two-hundred day moving average of $237.07.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the company posted $5.41 EPS. On average, analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a dividend yield of 2.38%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio is 34.36%.

FedEx Company Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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