Healthcare of Ontario Pension Plan Trust Fund lifted its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 58.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,587 shares of the shipping service provider's stock after purchasing an additional 5,006 shares during the quarter. Healthcare of Ontario Pension Plan Trust Fund's holdings in FedEx were worth $4,839,000 as of its most recent filing with the Securities and Exchange Commission.
Other large investors have also modified their holdings of the company. Ferguson Wellman Capital Management Inc. raised 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 lifted its stake 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 worth $491,000 after purchasing an additional 29 shares during the period. Whipplewood Advisors LLC boosted its holdings in FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider's stock valued at $119,000 after purchasing an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider's stock valued at $101,000 after purchasing an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC raised its holdings in shares of FedEx by 1.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider's stock worth $514,000 after buying an additional 30 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have weighed in on FDX. Truist Financial lowered their price target on FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research report on Thursday, June 25th. Evercore set a $165.00 target price on shares of FedEx in a research report on Friday, June 26th. Rothschild & Co Redburn reduced their price target on shares of FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 2nd. BMO Capital Markets reaffirmed a "market perform" rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Wolfe Research reduced 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. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $350.54.
Read Our Latest Stock Analysis on FDX
Insider Transactions at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.53% of the company's stock.
FedEx Price Performance
FDX opened at $308.96 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market capitalization of $73.10 billion, a P/E ratio of 16.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. The company's 50 day simple moving average is $332.02 and its 200-day simple moving average is $350.48. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36.
FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's payout ratio is currently 26.36%.
About FedEx
(
Free Report)
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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