FedEx Corporation (NYSE:FDX) Shares Sold by KBC Group NV

KBC Group NV trimmed its stake in FedEx Corporation (NYSE:FDX - Free Report) by 8.7% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 311,788 shares of the shipping service provider's stock after selling 29,602 shares during the quarter. KBC Group NV owned about 0.13% of FedEx worth $76,008,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of FDX. Transce3nd LLC purchased a new stake in FedEx during the fourth quarter worth approximately $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the fourth quarter worth approximately $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx during the fourth quarter worth approximately $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx during the fourth quarter worth approximately $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx during the fourth quarter worth approximately $39,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

FDX has been the subject of several research reports. JPMorgan Chase & Co. boosted their price objective 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. TD Cowen decreased their price objective 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. Deutsche Bank Aktiengesellschaft initiated coverage on shares of FedEx in a research note on Friday, March 7th. They set a "buy" rating and a $337.00 price objective for the company. UBS Group decreased their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Finally, Truist Financial reiterated a "buy" rating and set a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $283.00.

FedEx Stock Up 3.4%

FDX traded up $7.73 during trading on Tuesday, hitting $235.04. The company had a trading volume of 1,534,561 shares, compared to its average volume of 1,840,647. The company has a market cap of $56.31 billion, a PE ratio of 13.93, a P/E/G ratio of 1.20 and a beta of 1.35. The business has a 50-day moving average of $220.63 and a 200-day moving average of $242.02. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm 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 period in the prior year, the company posted $5.41 earnings per share. As a group, analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a $1.45 dividend. The ex-dividend date is Monday, June 23rd. This is a boost from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a yield of 2.47%. FedEx's dividend payout ratio is currently 36.39%.

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.