First Nebraska Trust Co Makes New Investment in FedEx Corporation $FDX

Key Points

• First Nebraska Trust Co. purchased 29,970 FedEx shares valued at approximately $10.7 million, making FedEx 1.0% of its portfolio and its 27th-largest holding. Institutional investors and hedge funds collectively own 84.47% of FedEx.
• Analyst sentiment remains positive overall, with FedEx carrying a “Moderate Buy” consensus rating and an average price target of $350.54, despite several firms recently lowering ratings or targets.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue. Shares opened at $307.41, while the company’s annualized dividend is $4.88 per share, yielding approximately 1.6%.

First Nebraska Trust Co purchased a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 29,970 shares of the shipping service provider's stock, valued at approximately $10,675,000. FedEx makes up 1.0% of First Nebraska Trust Co's investment portfolio, making the stock its 27th largest position.

Several other institutional investors have also made changes to their positions in the company. Ferguson Wellman Capital Management Inc. grew its stake in shares of FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider's stock valued at $296,000 after buying an additional 26 shares in the last quarter. OneAscent Financial Services LLC raised its position in FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider's stock valued at $491,000 after acquiring an additional 29 shares in the last quarter. Whipplewood Advisors LLC grew its position in FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock worth $101,000 after purchasing an additional 30 shares during the last quarter. Finally, Arete Wealth Advisors LLC raised its holdings in shares of FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 30 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the subject of several analyst reports. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a "buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Wolfe Research cut their target price on FedEx from $427.00 to $423.00 and set an "outperform" rating on the stock in a report on Tuesday, April 7th. Jefferies Financial Group started coverage on FedEx in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 price target for the company. Wall Street Zen upgraded FedEx from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 6th. Finally, HSBC lowered their price objective on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and an average price target of $350.54.

FedEx Stock Down 0.4%

Shares of FDX opened at $307.41 on Friday. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of 16.61, a P/E/G ratio of 1.58 and a beta of 1.29. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a 50-day moving average price of $328.67 and a two-hundred day moving average price of $350.16.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Equities analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx's dividend payout ratio is currently 26.36%.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.53% of the stock is currently owned by corporate insiders.

About FedEx

FedEx Corporation NYSE: FDX is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx's core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.

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