FedEx Corporation (NYSE:FDX) Shares Acquired by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has increased its position in FedEx Corporation by 11.4%, owning a total of 29,276 shares valued at approximately $7.14 million after purchasing an additional 3,007 shares.
• FedEx recently increased its quarterly dividend from $1.38 to $1.45 per share, representing a 2.38% yield based on an annualized payout of $5.80.
• Despite mixed analyst ratings, FedEx has a current market consensus rating of "Moderate Buy" with an average price target of $283.25.

HB Wealth Management LLC boosted its stake in FedEx Corporation (NYSE:FDX - Free Report) by 11.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 29,276 shares of the shipping service provider's stock after buying an additional 3,007 shares during the quarter. HB Wealth Management LLC's holdings in FedEx were worth $7,137,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Dodge & Cox raised its holdings in FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock valued at $3,907,568,000 after acquiring an additional 734,268 shares during the last quarter. Geode Capital Management LLC raised its holdings in FedEx by 2.3% in the 4th quarter. Geode Capital Management LLC now owns 4,798,797 shares of the shipping service provider's stock valued at $1,350,686,000 after acquiring an additional 109,006 shares during the last quarter. Franklin Resources Inc. raised its holdings in FedEx by 8.1% in the 4th quarter. Franklin Resources Inc. now owns 4,298,646 shares of the shipping service provider's stock valued at $1,209,338,000 after acquiring an additional 323,115 shares during the last quarter. Invesco Ltd. raised its holdings in FedEx by 4.1% in the 4th quarter. Invesco Ltd. now owns 3,221,004 shares of the shipping service provider's stock valued at $906,165,000 after acquiring an additional 127,044 shares during the last quarter. Finally, Mawer Investment Management Ltd. raised its holdings in FedEx by 5.8% in the 4th quarter. Mawer Investment Management Ltd. now owns 2,361,808 shares of the shipping service provider's stock valued at $664,447,000 after acquiring an additional 130,044 shares during the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FDX shares. Wells Fargo & Company increased their price target on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research note on Wednesday, June 25th. Truist Financial reissued a "buy" rating and issued a $275.00 price target on shares of FedEx in a research note on Wednesday, June 25th. TD Cowen dropped their price target on shares of FedEx from $310.00 to $269.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. UBS Group cut their price objective on FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Finally, Bank of America cut their price objective on FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and an average target price of $283.25.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction that occurred on 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 in the company, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is currently owned by insiders.

FedEx Stock Down 2.0%

NYSE FDX traded down $4.62 on Wednesday, hitting $229.92. 671,797 shares of the stock were exchanged, compared to its average volume of 1,981,906. 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 fifty-two week low of $194.29 and a fifty-two week high of $308.53. The company has a market cap of $54.24 billion, a PE ratio of 13.61, a PEG ratio of 1.26 and a beta of 1.35. The company has a 50-day moving average price of $227.61 and a 200-day moving average price of $236.33.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS 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 company had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the previous year, the business posted $5.41 EPS. Sell-side analysts anticipate that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The company also recently declared 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 represents a $5.80 annualized dividend and a yield of 2.52%. The ex-dividend date was Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's payout ratio is 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.