Invesco Ltd. Purchases 43,989 Shares of FedEx Corporation (NYSE:FDX)

Key Points

• Invesco Ltd. increased its stake in FedEx by 1.4%, acquiring an additional 43,989 shares in the first quarter, bringing its total ownership to approximately 3.26 million shares worth about $796 million.
• Several institutional investors, including Brighton Jones LLC and F M Investments LLC, have also increased their holdings in FedEx, indicating strong institutional interest with 84.47% of the stock currently held by institutional investors.
• FedEx recently announced a quarterly dividend of $1.45 per share, which will be paid on October 1st, representing an annualized dividend yield of 2.5%.

Invesco Ltd. grew its stake in FedEx Corporation (NYSE:FDX - Free Report) by 1.4% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,264,993 shares of the shipping service provider's stock after purchasing an additional 43,989 shares during the quarter. Invesco Ltd. owned about 1.36% of FedEx worth $795,940,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FDX. Brighton Jones LLC raised its holdings in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after purchasing an additional 207 shares in the last quarter. F M Investments LLC increased its stake in shares of FedEx by 17.5% in the 4th quarter. F M Investments LLC now owns 7,666 shares of the shipping service provider's stock worth $2,157,000 after acquiring an additional 1,139 shares in the last quarter. Heritage Trust Co bought a new position in shares of FedEx in the 4th quarter worth about $1,473,000. NFP Retirement Inc. bought a new position in shares of FedEx in the 4th quarter worth about $227,000. Finally, Petros Family Wealth LLC bought a new position in shares of FedEx in the 4th quarter worth about $363,000. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the completion of the sale, the director directly owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Paul S. Walsh sold 3,610 shares of the business's stock in a transaction 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 sale, the director directly owned 15,513 shares of the company's stock, valued at $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research analysts recently issued reports on the stock. JPMorgan Chase & Co. increased their price target on shares of FedEx from $260.00 to $290.00 and gave the stock an "overweight" rating in a research note on Wednesday, June 25th. Wells Fargo & Company increased their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a research report on Wednesday, June 25th. Truist Financial reaffirmed a "buy" rating and set a $275.00 price target on shares of FedEx in a report on Wednesday, June 25th. Barclays reissued an "overweight" rating and issued a $320.00 price objective (down previously from $330.00) on shares of FedEx in a report on Wednesday, June 25th. Finally, BMO Capital Markets dropped their price objective on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating on the stock in a report on Monday, May 19th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Trading Up 1.4%

FDX stock opened at $227.87 on Friday. 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 twelve month low of $194.29 and a twelve month high of $308.53. The stock has a market capitalization of $53.75 billion, a price-to-earnings ratio of 13.50, a price-to-earnings-growth ratio of 1.19 and a beta of 1.30. The firm's fifty day simple moving average is $228.40 and its two-hundred day simple moving average is $233.42.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating analysts' consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter in the previous year, the business posted $5.41 earnings per share. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Stockholders of record on Monday, September 8th will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's payout ratio is currently 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.

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