Moran Wealth Management LLC increased its stake in FedEx Corporation (NYSE:FDX - Free Report) by 75.4% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 95,962 shares of the shipping service provider's stock after purchasing an additional 41,245 shares during the quarter. FedEx accounts for 0.8% of Moran Wealth Management LLC's investment portfolio, making the stock its 24th largest position. Moran Wealth Management LLC's holdings in FedEx were worth $23,394,000 as of its most recent filing with the Securities & Exchange Commission.
Other large investors have also made changes to their positions in the company. NBC Securities Inc. acquired a new position in FedEx during the first quarter worth about $147,000. Farther Finance Advisors LLC lifted 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 valued at $538,000 after acquiring an additional 481 shares during the period. Allianz SE purchased a new stake in shares of FedEx during the 4th quarter worth approximately $18,342,000. Parvin Asset Management LLC purchased a new position in FedEx in the 4th quarter valued at approximately $281,000. Finally, Landscape Capital Management L.L.C. increased its stake in FedEx by 87.2% in the 4th quarter. Landscape Capital Management L.L.C. now owns 13,271 shares of the shipping service provider's stock valued at $3,734,000 after purchasing an additional 6,180 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Trading Up 3.8%
Shares of FDX opened at $229.37 on Friday. FedEx Corporation has a twelve month low of $194.30 and a twelve month high of $313.84. The firm has a market capitalization of $54.96 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.18 and a beta of 1.35. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68. The stock's fifty day simple moving average is $220.19 and its 200 day simple moving average is $242.96.
FedEx (NYSE:FDX - Get Free Report) last released its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. The company had revenue of $22.20 billion for 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 period last year, the business posted $5.41 EPS. On average, equities research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.
FedEx Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. This is a boost from FedEx's previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx's payout ratio is 36.39%.
Analysts Set New Price Targets
Several research firms have weighed in on FDX. UBS Group lowered their target price on FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday. Deutsche Bank Aktiengesellschaft assumed coverage on shares of FedEx in a research report on Friday, March 7th. They issued a "buy" rating and a $337.00 price objective on the stock. Loop Capital lowered shares of FedEx from a "hold" rating to a "sell" rating and lowered their price target for the company from $283.00 to $221.00 in a research report on Friday, March 21st. Wall Street Zen cut FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Finally, Wells Fargo & Company raised their price target on FedEx from $220.00 to $235.00 and gave the stock an "equal weight" rating in a research report on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $283.00.
Get Our Latest Analysis on FDX
About FedEx
(
Free Report)
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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