Longfellow Investment Management Co. LLC Buys Shares of 1,741 FedEx Corporation (NYSE:FDX)

Key Points

• Longfellow Investment Management Co. LLC has acquired a new stake in FedEx, purchasing 1,741 shares valued at approximately $424,000 during the first quarter, reflecting growing interest from various institutional investors.
• Analysts have given mixed ratings for FedEx, with target prices ranging widely from $220.00 to $315.00; the overall consensus rating is "Moderate Buy" with an average target price of $283.25.
• FedEx announced a quarterly dividend of $1.45 per share to be paid on October 1st, representing an annualized dividend yield of 2.5% and a payout ratio of 34.36%.

Longfellow Investment Management Co. LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,741 shares of the shipping service provider's stock, valued at approximately $424,000.

Several other hedge funds also recently made changes to their positions in FDX. Nuveen LLC bought a new position in shares of FedEx during the 1st quarter worth approximately $314,650,000. Dodge & Cox grew its stake in shares of FedEx by 5.6% during the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after acquiring an additional 734,268 shares in the last quarter. ACR Alpine Capital Research LLC grew its stake in shares of FedEx by 85.9% during the 1st quarter. ACR Alpine Capital Research LLC now owns 1,585,033 shares of the shipping service provider's stock worth $386,399,000 after acquiring an additional 732,266 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of FedEx by 18,202.1% during the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock worth $133,003,000 after acquiring an additional 542,605 shares in the last quarter. Finally, Capital Research Global Investors bought a new position in shares of FedEx in the fourth quarter valued at $145,733,000. 84.47% of the stock is owned by institutional investors.

Insider Activity at FedEx

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the transaction, the director owned 7,720 shares in the company, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction dated Monday, July 7th. The shares were sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the transaction, the director owned 8,935 shares in the company, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 over the last quarter. 8.87% of the stock is owned by corporate insiders.

FedEx Price Performance

FDX stock traded up $0.80 during midday trading on Thursday, reaching $231.30. The company had a trading volume of 1,615,737 shares, compared to its average volume of 2,000,698. The company has a market capitalization of $54.56 billion, a price-to-earnings ratio of 13.70, a price-to-earnings-growth ratio of 1.20 and a beta of 1.30. The stock has a 50 day moving average price of $228.97 and a 200-day moving average price of $232.79. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $308.53. 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 (NYSE:FDX - Get Free Report) last posted its quarterly 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 business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same quarter in the previous year, the firm earned $5.41 earnings per share. Equities research analysts expect that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx's payout ratio is 34.36%.

Analyst Ratings Changes

Several research firms recently weighed in on FDX. BMO Capital Markets decreased their target price on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research note on Monday, May 19th. Cowen reissued a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. Bank of America decreased their target price on shares of FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Truist Financial reissued a "buy" rating and issued a $275.00 target price on shares of FedEx in a research note on Wednesday, June 25th. Finally, Sanford C. Bernstein decreased their target price on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research note on Friday, June 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price 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.