FedEx Corporation (NYSE:FDX) Shares Bought by Staley Capital Advisers Inc.

Key Points

• Staley Capital Advisers Inc. increased its stake in FedEx Corporation by 3.2% during Q1, holding a total of 250,471 shares valued at approximately $61 million, making it the firm's 11th largest position.
• FedEx announced a quarterly dividend of $1.45, representing a 2.5% dividend yield, to be distributed on October 1st to shareholders of record on September 8th.
• Several analysts have adjusted price targets for FedEx, with a current consensus rating of "Moderate Buy" and a consensus price target of $283.25.

Staley Capital Advisers Inc. raised its position in FedEx Corporation (NYSE:FDX - Free Report) by 3.2% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 250,471 shares of the shipping service provider's stock after buying an additional 7,768 shares during the quarter. FedEx comprises about 2.8% of Staley Capital Advisers Inc.'s holdings, making the stock its 11th largest position. Staley Capital Advisers Inc. owned approximately 0.10% of FedEx worth $61,060,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of FDX. SouthState Corp boosted its position in shares of FedEx by 3.5% in the 1st quarter. SouthState Corp now owns 1,431 shares of the shipping service provider's stock worth $349,000 after buying an additional 48 shares in the last quarter. Nuveen LLC acquired a new position in FedEx in the 1st quarter valued at about $314,650,000. Cooper Financial Group raised its stake in FedEx by 14.4% in the 1st quarter. Cooper Financial Group now owns 6,355 shares of the shipping service provider's stock valued at $1,549,000 after purchasing an additional 798 shares during the last quarter. Invesco Ltd. raised its stake in FedEx by 1.4% in the 1st quarter. Invesco Ltd. now owns 3,264,993 shares of the shipping service provider's stock valued at $795,940,000 after purchasing an additional 43,989 shares during the last quarter. Finally, Mizuho Markets Americas LLC raised its stake in FedEx by 27.7% in the 1st quarter. Mizuho Markets Americas LLC now owns 929,326 shares of the shipping service provider's stock valued at $226,551,000 after purchasing an additional 201,833 shares during the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FDX. Stephens reissued an "overweight" rating and issued a $300.00 target price on shares of FedEx in a research note on Tuesday, May 20th. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $260.00 to $290.00 and gave the company an "overweight" rating in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. UBS Group dropped their price objective on shares of FedEx from $311.00 to $297.00 and set a "buy" rating for the company in a research note on Wednesday, June 25th. Finally, Sanford C. Bernstein dropped their price objective 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 analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, FedEx has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

FedEx Stock Up 0.0%

Shares of FedEx stock traded up $0.02 on Wednesday, hitting $230.44. 3,386,490 shares of the company's stock traded hands, compared to its average volume of 1,905,566. The stock has a market cap of $54.36 billion, a P/E ratio of 13.65, a PEG ratio of 1.20 and a beta of 1.30. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm's 50-day moving average is $228.97 and its 200 day moving average is $232.79. FedEx Corporation has a 52-week low of $194.29 and a 52-week high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The firm had revenue of $22.20 billion for the quarter, compared to analysts' expectations of $21.86 billion. During the same period last year, the business posted $5.41 earnings per share. Equities analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Shareholders 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 is Monday, September 8th. FedEx's dividend payout ratio (DPR) is presently 34.36%.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director directly owned 15,513 shares in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Marvin R. Ellison sold 3,610 shares of the firm's stock in a transaction on Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the sale, 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 disclosure for this sale can be found here. Over the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is owned by insiders.

FedEx Company 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.