Lido Advisors LLC increased its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 45.6% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 29,205 shares of the shipping service provider's stock after acquiring an additional 9,148 shares during the period. Lido Advisors LLC's holdings in FedEx were worth $10,424,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the business. Sivia Capital Partners LLC bought a new stake in FedEx during the second quarter worth about $586,000. CWM LLC increased its holdings in shares of FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider's stock worth $31,206,000 after buying an additional 26,322 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of FedEx by 85.9% in the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after acquiring an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of FedEx by 19.6% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after acquiring an additional 6,864 shares during the last quarter. Finally, North Dakota State Investment Board acquired a new position in shares of FedEx in the 4th quarter worth approximately $2,122,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
Insider Buying and Selling
In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% 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 the SEC website. 0.53% of the stock is currently owned by insiders.
FedEx Stock Performance
Shares of FedEx stock opened at $315.93 on Friday. 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 firm has a 50 day simple moving average of $337.21 and a 200 day simple moving average of $350.30. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The firm has a market cap of $74.74 billion, a P/E ratio of 17.07, a P/E/G ratio of 1.65 and a beta of 1.29.
FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm had revenue of $22.19 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is currently 26.36%.
Analyst Upgrades and Downgrades
A number of equities research analysts recently commented on the company. Argus increased their price target on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a research report on Monday, April 6th. Evercore set a $165.00 price objective on FedEx in a research report on Friday, June 26th. Bank of America boosted their price objective on FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research note on Wednesday, June 24th. Rothschild & Co Redburn decreased their target price on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. Finally, Wall Street Zen upgraded FedEx from a "buy" rating to a "strong-buy" rating in a research note on Saturday, June 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $350.54.
Read Our Latest Research Report on FDX
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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