Allspring Global Investments Holdings LLC decreased its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 9.6% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,651 shares of the shipping service provider's stock after selling 1,131 shares during the period. Allspring Global Investments Holdings LLC's holdings in FedEx were worth $2,577,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. Transce3nd LLC bought a new stake in FedEx during the fourth quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd acquired a new position in shares of FedEx during the fourth quarter valued at $28,000. Runnymede Capital Advisors Inc. acquired a new position in shares of FedEx during the fourth quarter valued at $32,000. Accredited Wealth Management LLC acquired a new position in shares of FedEx during the fourth quarter valued at $35,000. Finally, Optiver Holding B.V. acquired a new position in shares of FedEx during the fourth quarter valued at $39,000. Institutional investors own 84.47% of the company's stock.
FedEx Price Performance
Shares of NYSE FDX opened at $240.88 on Monday. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $57.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.26 and a beta of 1.35. The firm has a 50-day moving average of $222.83 and a two-hundred day moving average of $240.93.
FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. As a group, analysts expect that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.
FedEx Increases Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. The ex-dividend date is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.41%. FedEx's dividend payout ratio is currently 34.36%.
Analyst Upgrades and Downgrades
Several equities analysts have recently issued reports on FDX shares. Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Wells Fargo & Company boosted their price target on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Barclays reissued an "overweight" rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Truist Financial reissued a "buy" rating and set a $275.00 price target on shares of FedEx in a report on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a report on Wednesday, June 25th. Two equities research 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 stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $282.46.
View Our Latest Report on FedEx
About FedEx
(
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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