Davidson Investment Advisors Acquires 1,787 Shares of FedEx Corporation (NYSE:FDX)

Davidson Investment Advisors increased its position in FedEx Corporation (NYSE:FDX - Free Report) by 2.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 85,914 shares of the shipping service provider's stock after acquiring an additional 1,787 shares during the period. Davidson Investment Advisors' holdings in FedEx were worth $20,944,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of FDX. Brighton Jones LLC boosted its stake in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares during the last quarter. Proficio Capital Partners LLC purchased a new stake in FedEx during the fourth quarter valued at about $56,065,000. Banco Santander S.A. grew its holdings in shares of FedEx by 142.9% during the 4th quarter. Banco Santander S.A. now owns 2,281 shares of the shipping service provider's stock worth $642,000 after purchasing an additional 1,342 shares during the period. PNC Financial Services Group Inc. boosted its position in FedEx by 1.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 78,136 shares of the shipping service provider's stock worth $21,982,000 after purchasing an additional 1,239 shares during the period. Finally, HM Payson & Co. boosted its position in shares of FedEx by 121.7% in the fourth quarter. HM Payson & Co. now owns 1,647 shares of the shipping service provider's stock worth $463,000 after buying an additional 904 shares during the period. Institutional investors and hedge funds own 84.47% of the company's stock.

Insider Transactions at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares of the company's stock, valued at $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the 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 transaction, the director owned 7,720 shares in the company, valued at approximately $1,829,176.80. This trade represents a 31.86% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 9,343 shares of company stock worth $2,228,816 in the last 90 days. 8.87% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on FDX. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective for the company in a research report on Thursday, July 3rd. Truist Financial restated a "buy" rating and issued a $275.00 price target on shares of FedEx in a research report on Wednesday, June 25th. Loop Capital cut FedEx from a "hold" rating to a "sell" rating and cut their target price for the company from $283.00 to $221.00 in a research note on Friday, March 21st. JPMorgan Chase & Co. lifted their price target on FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a report on Wednesday, June 25th. Finally, Raymond James Financial reissued an "outperform" rating and set a $260.00 target price (down previously from $275.00) 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Stock Up 1.0%

Shares of NYSE FDX traded up $2.29 during mid-day trading on Thursday, reaching $238.80. The company had a trading volume of 1,940,348 shares, compared to its average volume of 1,859,152. The stock has a fifty day moving average of $224.41 and a two-hundred day moving average of $240.61. 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 company has a market capitalization of $57.22 billion, a price-to-earnings ratio of 14.15, a PEG ratio of 1.25 and a beta of 1.35. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the prior year, the business earned $5.41 EPS. As a group, equities research 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. Investors of record on Monday, June 23rd were issued a $1.45 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.43%. This is an increase from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 34.36%.

FedEx Company Profile

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.