Davidson Investment Advisors Increases Holdings in FedEx Corporation (NYSE:FDX)

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

A number of other hedge funds have also recently made changes to their positions in FDX. Transce3nd LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $26,000. Pilgrim Partners Asia Pte Ltd acquired a new stake in shares of FedEx during the fourth quarter valued at about $28,000. Runnymede Capital Advisors Inc. acquired a new stake in shares of FedEx during the fourth quarter valued at about $32,000. Accredited Wealth Management LLC acquired a new stake in shares of FedEx during the fourth quarter valued at about $35,000. Finally, Abound Financial LLC acquired a new stake in shares of FedEx during the first quarter valued at about $38,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FDX shares. BMO Capital Markets cut their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a research note on Monday, May 19th. Bank of America cut their price target on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. Jefferies Financial Group upgraded FedEx from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Oppenheimer restated a "market perform" rating on shares of FedEx in a research report on Friday, March 21st. Finally, Truist Financial restated a "buy" rating and set a $275.00 price objective on shares of FedEx in a research report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $283.25.

FedEx Stock Down 0.9%

NYSE FDX traded down $2.24 during mid-day trading on Wednesday, hitting $236.47. The company's stock had a trading volume of 1,937,722 shares, compared to its average volume of 1,858,827. The firm has a market capitalization of $56.66 billion, a price-to-earnings ratio of 14.01, a PEG ratio of 1.25 and a beta of 1.35. The company's 50 day simple moving average is $224.41 and its 200 day simple moving average is $240.61. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. FedEx Corporation has a twelve month low of $194.30 and a twelve 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, topping the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same quarter in the prior year, the company posted $5.41 earnings per share. Analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd were issued a dividend of $1.45 per share. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. This represents a $5.80 annualized dividend and a yield of 2.45%. FedEx's dividend payout ratio is presently 34.36%.

Insiders Place Their Bets

In related news, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director owned 8,935 shares of the company's stock, valued at $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,343 shares of company stock worth $2,228,816. Insiders own 8.87% of the company's stock.

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.