Howard Capital Management Inc. trimmed its stake in FedEx Corporation (NYSE:FDX - Free Report) by 49.7% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 1,277 shares of the shipping service provider's stock after selling 1,260 shares during the quarter. Howard Capital Management Inc.'s holdings in FedEx were worth $311,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in FDX. Golden State Wealth Management LLC raised its position in FedEx by 21.1% in the first 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 FedEx in the first quarter worth about $147,000. Farther Finance Advisors LLC raised its position in FedEx by 27.6% in the first 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. Parvin Asset Management LLC bought a new stake in FedEx in the fourth quarter worth about $281,000. Finally, Landscape Capital Management L.L.C. increased its stake in FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock worth $3,734,000 after purchasing an additional 6,180 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities analysts recently weighed in on the company. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. TD Cowen dropped their price target on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Truist Financial reissued a "buy" rating and issued a $275.00 price target on shares of FedEx in a research note on Wednesday, June 25th. Barclays reaffirmed an "overweight" rating and set a $320.00 target price (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Finally, Bank of America lowered their target price on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $283.25.
Read Our Latest Analysis on FDX
Insider Activity
In related news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction that occurred on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares in the company, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock worth $2,228,816 in the last 90 days. Corporate insiders own 8.87% of the company's stock.
FedEx Price Performance
Shares of FDX stock opened at $223.39 on Friday. The stock's fifty day moving average is $227.85 and its 200-day moving average is $235.89. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The stock has a market capitalization of $52.70 billion, a PE ratio of 13.23, a PEG ratio of 1.17 and a beta of 1.35. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53.
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 (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter last year, the business earned $5.41 earnings per share. Equities research analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.
FedEx Increases Dividend
The firm 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 is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.6%. FedEx's dividend payout ratio (DPR) is presently 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.
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