Deutsche Bank AG Buys 26,361 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Deutsche Bank AG has increased its stake in FedEx by 5.9%, now owning 0.20% of the company, valued at $115.29 million.
• FedEx reported a quarterly earnings per share (EPS) of $6.07, exceeding analysts' expectations, alongside revenues of $22.20 billion.
• The company recently declared a quarterly dividend of $1.45 per share, yielding around 2.5%, with the ex-dividend date set for September 8th.

Deutsche Bank AG raised its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 5.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 472,913 shares of the shipping service provider's stock after acquiring an additional 26,361 shares during the period. Deutsche Bank AG owned 0.20% of FedEx worth $115,287,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. Chicago Partners Investment Group LLC grew its stake in shares of FedEx by 8.2% during the 1st quarter. Chicago Partners Investment Group LLC now owns 1,695 shares of the shipping service provider's stock valued at $413,000 after buying an additional 129 shares during the period. Commonwealth Financial Services LLC grew its stake in shares of FedEx by 6.5% during the 1st quarter. Commonwealth Financial Services LLC now owns 1,005 shares of the shipping service provider's stock valued at $245,000 after buying an additional 61 shares during the period. Charles Schwab Investment Management Inc. grew its stake in shares of FedEx by 0.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,506,226 shares of the shipping service provider's stock valued at $367,188,000 after buying an additional 5,490 shares during the period. ASR Vermogensbeheer N.V. purchased a new stake in shares of FedEx during the 1st quarter valued at $7,588,000. Finally, WealthShield Partners LLC purchased a new stake in shares of FedEx during the 1st quarter valued at $286,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other news, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred 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 in the company, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 transaction of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares in the company, valued at $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 8.87% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on FDX shares. 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 note on Thursday, July 3rd. Raymond James Financial reaffirmed an "outperform" rating and set a $260.00 price target (down from $275.00) on shares of FedEx in a research report on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and set a $300.00 price target on shares of FedEx in a research report on Tuesday, May 20th. Stifel Nicolaus set a $315.00 target price on FedEx in a research report on Wednesday, June 25th. Finally, Wall Street Zen raised FedEx from a "hold" rating to a "buy" rating in a research report on Saturday, July 26th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Price Performance

NYSE:FDX traded up $0.02 on Wednesday, reaching $230.44. The stock had a trading volume of 3,386,284 shares, compared to its average volume of 2,002,947. The company has a market capitalization of $54.36 billion, a P/E ratio of 13.65, a price-to-earnings-growth ratio of 1.17 and a beta of 1.30. FedEx Corporation has a 1-year low of $194.29 and a 1-year 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 stock has a fifty day moving average price of $228.74 and a 200-day moving average price of $232.81.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results 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. 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 period in the previous year, the business earned $5.41 earnings per share. Research analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio is presently 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.