Value Partners Investments Inc. Buys 131,594 Shares of FedEx Corporation (NYSE:FDX)

Value Partners Investments Inc. boosted its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 1,104.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 143,504 shares of the shipping service provider's stock after acquiring an additional 131,594 shares during the quarter. FedEx accounts for about 3.0% of Value Partners Investments Inc.'s investment portfolio, making the stock its 18th largest holding. Value Partners Investments Inc. owned 0.06% of FedEx worth $35,022,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FDX. Regal Investment Advisors LLC grew its position in shares of FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock valued at $451,000 after purchasing an additional 38 shares during the period. Aviso Financial Inc. grew its position in shares of FedEx by 1.2% in the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider's stock valued at $957,000 after purchasing an additional 40 shares during the period. Garner Asset Management Corp boosted its position in FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after acquiring an additional 41 shares during the last quarter. Curi RMB Capital LLC boosted its position in FedEx by 1.3% during the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock worth $1,017,000 after acquiring an additional 47 shares during the last quarter. Finally, Quadrant Capital Group LLC boosted its position in FedEx by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider's stock worth $749,000 after acquiring an additional 50 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Performance

FDX traded up $8.30 during trading hours on Friday, reaching $229.37. The company's stock had a trading volume of 4,051,499 shares, compared to its average volume of 1,848,267. FedEx Corporation has a 52 week low of $194.30 and a 52 week high of $313.84. The company's 50-day moving average is $219.75 and its 200-day moving average is $243.30. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.19 and a current ratio of 1.19. The firm has a market cap of $54.96 billion, a PE ratio of 13.59, a price-to-earnings-growth ratio of 1.18 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 earnings per share for the quarter, beating 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 for the quarter, compared to analysts' expectations of $21.86 billion. During the same quarter in the prior year, the business earned $5.41 EPS. On average, equities analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be given a $1.45 dividend. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.53%. This is a boost from FedEx's previous quarterly dividend of $1.38. FedEx's dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on FDX. Bank of America reduced their price target on FedEx from $270.00 to $245.00 and set a "buy" rating for the company in a research report on Wednesday. Truist Financial reaffirmed a "buy" rating and set a $275.00 price target on shares of FedEx in a research report on Wednesday. BMO Capital Markets reduced their price target on FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Jefferies Financial Group raised FedEx from a "hold" rating to a "buy" rating and reduced their price target for the stock from $300.00 to $275.00 in a research report on Monday, March 24th. Finally, Cowen reissued a "buy" rating on shares of FedEx in a report on Wednesday. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $285.17.

About FedEx

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.