Heritage Investors Management Corp Boosts Holdings in FedEx Corporation (NYSE:FDX)

Heritage Investors Management Corp grew its position in FedEx Corporation (NYSE:FDX - Free Report) by 7.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 98,951 shares of the shipping service provider's stock after buying an additional 6,629 shares during the period. Heritage Investors Management Corp's holdings in FedEx were worth $24,122,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Golden State Wealth Management LLC grew 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 buying an additional 63 shares during the period. NBC Securities Inc. purchased a new position in shares of FedEx during the 1st quarter worth approximately $147,000. Farther Finance Advisors LLC boosted its position in shares of FedEx by 27.6% during the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock worth $538,000 after purchasing an additional 481 shares during the period. Allianz SE purchased a new position in shares of FedEx during the 4th quarter worth approximately $18,342,000. Finally, Parvin Asset Management LLC purchased a new position in shares of FedEx during the 4th quarter worth approximately $281,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Insider Activity at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the firm's stock in a transaction on Monday, July 7th. The shares were sold at an average price of $241.75, for a total transaction of $513,235.25. Following the transaction, the director directly owned 8,935 shares of the company's stock, valued at approximately $2,160,036.25. This trade represents a 19.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total transaction of $860,226.90. Following the transaction, the director directly owned 15,513 shares in the company, valued at $3,696,592.77. The trade was a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,343 shares of company stock valued at $2,228,816 in the last ninety days. Insiders own 8.87% of the company's stock.

FedEx Price Performance

Shares of FDX opened at $226.64 on Friday. 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 firm's fifty day simple moving average is $226.63 and its 200-day simple moving average is $238.17. The firm has a market capitalization of $54.30 billion, a price-to-earnings ratio of 13.43, a PEG ratio of 1.18 and a beta of 1.35. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period last year, the firm posted $5.41 EPS. Equities analysts forecast that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were given a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.56%. This is an increase from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio (DPR) is 34.36%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on FDX shares. Truist Financial reaffirmed a "buy" rating and set a $275.00 price objective on shares of FedEx in a research report on Wednesday, June 25th. Jefferies Financial Group raised shares of FedEx from a "hold" rating to a "buy" rating and lowered their price objective for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Susquehanna increased their price objective on shares of FedEx from $290.00 to $295.00 and gave the stock a "positive" rating in a research report on Wednesday, June 25th. Stephens reaffirmed an "overweight" rating and set a $300.00 price objective on shares of FedEx in a research report on Tuesday, May 20th. Finally, BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price on the stock in a report on Thursday, July 3rd. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx 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.

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