Value Partners Investments Inc. Increases Holdings in FedEx Corporation (NYSE:FDX)

Value Partners Investments Inc. boosted its position in FedEx Corporation (NYSE:FDX - Free Report) by 1,104.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 143,504 shares of the shipping service provider's stock after acquiring an additional 131,594 shares during the period. FedEx accounts for about 3.0% of Value Partners Investments Inc.'s holdings, making the stock its 18th biggest position. Value Partners Investments Inc. owned approximately 0.06% of FedEx worth $35,022,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FDX. Norges Bank bought a new position in FedEx in the fourth quarter worth approximately $807,352,000. Raymond James Financial Inc. bought a new position in FedEx in the fourth quarter worth approximately $234,028,000. Dodge & Cox boosted its holdings in FedEx by 5.6% in the fourth 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. GAMMA Investing LLC boosted its holdings in FedEx by 18,202.1% in the first 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 FedEx in the fourth quarter worth approximately $145,733,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE:FDX traded up $8.30 during trading hours on Friday, reaching $229.37. The stock had a trading volume of 4,051,499 shares, compared to its average volume of 1,838,506. 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 stock has a 50 day simple moving average of $220.19 and a 200 day simple moving average of $242.41. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84. The stock has a market cap of $54.96 billion, a P/E ratio of 13.59, a price-to-earnings-growth ratio of 1.20 and a beta of 1.35.

FedEx (NYSE:FDX - Get Free Report) last released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. During the same period last year, the business posted $5.41 earnings per share. On average, research 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 given a $1.45 dividend. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio (DPR) is currently 36.39%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. TD Cowen cut their price target on FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a report on Wednesday. UBS Group dropped their target price on FedEx from $311.00 to $297.00 and set a "buy" rating on the stock in a report on Wednesday. Wall Street Zen lowered FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Truist Financial restated a "buy" rating and issued a $275.00 target price on shares of FedEx in a report on Wednesday. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on FedEx in a report on Friday, March 7th. They issued a "buy" rating and a $337.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and an average price target of $283.00.

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.