Sequoia Financial Advisors LLC decreased its position in shares of FedEx Corporation (NYSE:FDX - Free Report) by 14.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 8,331 shares of the shipping service provider's stock after selling 1,400 shares during the period. Sequoia Financial Advisors LLC's holdings in FedEx were worth $2,031,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in FDX. Transce3nd LLC purchased a new stake in FedEx during the 4th quarter worth $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the 4th quarter worth $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx during the 4th quarter worth $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx during the 4th quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx during the 4th quarter worth $39,000. Hedge funds and other institutional investors own 84.47% of the company's stock.
FedEx Stock Performance
Shares of NYSE FDX traded up $7.16 during midday trading on Tuesday, hitting $234.47. The company's stock had a trading volume of 2,720,558 shares, compared to its average volume of 1,842,666. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The firm's fifty day moving average price is $220.63 and its 200-day moving average price is $242.02. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The firm has a market cap of $56.18 billion, a P/E ratio of 13.89, a P/E/G ratio of 1.19 and a beta of 1.35.
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 the consensus estimate of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The business had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. During the same period in the previous year, the business posted $5.41 EPS. On average, sell-side analysts forecast that FedEx Corporation will post 19.14 EPS for the current fiscal year.
FedEx Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.47%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's payout ratio is presently 36.39%.
Wall Street Analysts Forecast Growth
Several research firms recently issued reports on FDX. Barclays reaffirmed an "overweight" rating and set a $320.00 price target (down previously from $330.00) on shares of FedEx in a research note on Wednesday, June 25th. Stephens reissued an "overweight" rating and set a $300.00 price objective on shares of FedEx in a report on Tuesday, May 20th. Cfra Research raised shares of FedEx to a "hold" rating in a report on Thursday, March 20th. Truist Financial reissued a "buy" rating and set a $275.00 price objective on shares of FedEx in a report on Wednesday, June 25th. Finally, Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a report on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $283.00.
Get Our Latest Research Report on FDX
FedEx Company Profile
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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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