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Oppenheimer Asset Management Inc. Grows Stock Holdings in FedEx Corporation (NYSE:FDX)

FedEx logo with Transportation background

Oppenheimer Asset Management Inc. lifted its stake in FedEx Corporation (NYSE:FDX - Free Report) by 42.7% in the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 210,827 shares of the shipping service provider's stock after purchasing an additional 63,093 shares during the quarter. FedEx comprises 0.6% of Oppenheimer Asset Management Inc.'s portfolio, making the stock its 25th biggest holding. Oppenheimer Asset Management Inc. owned about 0.09% of FedEx worth $51,395,000 as of its most recent filing with the SEC.

Several other large investors have also recently modified their holdings of FDX. Regal Investment Advisors LLC boosted its holdings in FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after acquiring an additional 38 shares during the period. Aviso Financial Inc. increased its stake in FedEx by 1.2% during the fourth quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock worth $957,000 after purchasing an additional 40 shares during the period. Garner Asset Management Corp lifted its position in shares of FedEx by 0.7% during the fourth quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after purchasing an additional 41 shares in the last quarter. Curi RMB Capital LLC boosted its stake in shares of FedEx by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock valued at $1,017,000 after purchasing an additional 47 shares during the period. Finally, Quadrant Capital Group LLC grew its holdings in shares of FedEx by 1.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider's stock valued at $749,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

Shares of NYSE FDX traded down $1.01 during midday trading on Thursday, reaching $220.99. 4,708,661 shares of the company were exchanged, compared to its average volume of 1,848,012. The stock has a market cap of $52.95 billion, a P/E ratio of 13.09, a PEG ratio of 1.13 and a beta of 1.35. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The stock has a fifty day simple moving average of $219.75 and a 200 day simple moving average of $243.30. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate 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, research analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date of this dividend is Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio is currently 36.39%.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research reports. Barclays reiterated an "overweight" rating and set a $320.00 target price (down from $330.00) on shares of FedEx in a report on Wednesday. TD Cowen reduced their price objective on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday. Truist Financial reissued a "buy" rating and set a $275.00 target price on shares of FedEx in a research note on Wednesday. Bank of America cut their price target on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a report on Wednesday. Finally, Sanford C. Bernstein lowered their price objective on FedEx from $282.00 to $249.00 and set a "market perform" rating for the company in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $285.17.

Check Out Our Latest Research Report 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.

See Also

Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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