Red Door Wealth Management LLC boosted its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 5.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 34,717 shares of the shipping service provider's stock after acquiring an additional 1,879 shares during the period. FedEx accounts for approximately 1.3% of Red Door Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position. Red Door Wealth Management LLC's holdings in FedEx were worth $8,463,000 as of its most recent SEC filing.
Other hedge funds also recently bought and sold shares of the company. Hills Bank & Trust Co lifted its position in FedEx by 17.3% during the first quarter. Hills Bank & Trust Co now owns 2,535 shares of the shipping service provider's stock worth $618,000 after buying an additional 374 shares in the last quarter. Skylands Capital LLC boosted its holdings in FedEx by 6.2% in the 1st quarter. Skylands Capital LLC now owns 9,000 shares of the shipping service provider's stock valued at $2,194,000 after purchasing an additional 525 shares during the last quarter. Joel Isaacson & Co. LLC raised its position in shares of FedEx by 8.6% during the 1st quarter. Joel Isaacson & Co. LLC now owns 2,820 shares of the shipping service provider's stock valued at $687,000 after buying an additional 223 shares during the period. Colonial River Investments LLC acquired a new position in FedEx in the first quarter valued at approximately $306,000. Finally, Golden State Wealth Management LLC lifted its stake in shares of FedEx by 21.1% in the 1st quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock valued at $88,000 after purchasing an additional 63 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company's stock.
FedEx Stock Up 0.7%
FedEx stock traded up $1.74 during mid-day trading on Thursday, hitting $240.88. The company had a trading volume of 2,410,389 shares, compared to its average volume of 1,847,563. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The business has a fifty day moving average of $221.74 and a 200 day moving average of $241.94. The stock has a market cap of $57.71 billion, a price-to-earnings ratio of 14.27, a PEG ratio of 1.22 and a beta of 1.35.
FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same quarter last year, the company posted $5.41 earnings per share. On average, sell-side 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 $1.45 dividend. The ex-dividend date is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.41%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is currently 34.36%.
Analysts Set New Price Targets
Several brokerages have weighed in on FDX. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and lowered their target price for the stock from $300.00 to $275.00 in a research note on Monday, March 24th. Citigroup cut their target price on FedEx from $267.00 to $259.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Truist Financial reaffirmed a "buy" rating and issued a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Susquehanna lifted their target price on FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a research report on Wednesday, June 25th. Finally, Oppenheimer reissued a "market perform" rating on shares of FedEx in a research note on Friday, March 21st. Two investment 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, the company presently has a consensus rating of "Moderate Buy" and an average price target of $282.46.
Check Out Our Latest Stock Analysis on FedEx
FedEx Company Profile
(
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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