FedEx Corporation (NYSE:FDX) Shares Bought by National Pension Service

Key Points

• The National Pension Service increased its holdings in FedEx by 9.3% in Q1, now owning $143.2 million worth of shares, totaling 587,445 shares.
• FedEx recently reported $6.07 EPS for the last quarter, beating analysts' estimates, with revenue recorded at $22.20 billion.
• The company announced a quarterly dividend of $1.45 per share, reflecting an annual yield of 2.5% for shareholders on record by September 8th.

National Pension Service raised its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 9.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 587,445 shares of the shipping service provider's stock after buying an additional 49,965 shares during the quarter. National Pension Service owned 0.25% of FedEx worth $143,207,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the company. Transce3nd LLC acquired a new position in FedEx in the fourth quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new stake in shares of FedEx in the fourth quarter valued at approximately $35,000. Abound Financial LLC bought a new stake in shares of FedEx in the first quarter valued at approximately $38,000. Optiver Holding B.V. bought a new stake in shares of FedEx in the fourth quarter valued at approximately $39,000. Finally, Ameriflex Group Inc. bought a new position in FedEx in the fourth quarter worth $43,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on FDX shares. Sanford C. Bernstein reduced their target price on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. BNP Paribas Exane upgraded FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price for the company in a research note on Thursday, July 3rd. Barclays reiterated an "overweight" rating and issued a $320.00 price objective (down from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. TD Cowen lowered their price objective on FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Finally, Truist Financial restated a "buy" rating and set a $275.00 target price on shares of FedEx in a research report on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $283.25.

FedEx Stock Up 0.0%

Shares of NYSE FDX opened at $230.44 on Thursday. 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 stock has a market capitalization of $54.36 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53. The stock's fifty day simple moving average is $228.97 and its two-hundred day simple moving average is $232.79.

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 analysts' consensus estimates 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 during the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the business posted $5.41 EPS. As a group, analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio is 34.36%.

Insiders Place Their Bets

In other news, Director R Brad Martin sold 2,123 shares of the stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director owned 15,513 shares of the company's stock, 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. Insiders have sold 9,343 shares of company stock worth $2,228,816 over the last ninety days. Corporate insiders own 8.87% of the company's stock.

About FedEx

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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