Vista Investment Partners LLC Acquires New Position in FedEx Corporation $FDX

Key Points

• Vista Investment Partners LLC acquired 9,034 FedEx shares during the third quarter, valued at approximately $2.58 million.
• Institutional investors and hedge funds own 84.47% of FedEx, with several major firms—including BlackRock and Primecap Management—reporting new positions.
• FedEx shares traded at $289.04, while analysts maintained a consensus “Moderate Buy” rating and an average price target of $354.64; the company also pays a quarterly dividend of $1.22.

Vista Investment Partners LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 9,034 shares of the shipping service provider's stock, valued at approximately $2,576,000.

A number of other large investors have also modified their holdings of the company. BlackRock Inc. acquired a new stake in FedEx during the second quarter worth $6,508,103,000. Primecap Management Co. CA acquired a new position in shares of FedEx in the 2nd quarter valued at $2,554,138,000. Bank of America Corp DE bought a new position in shares of FedEx during the 2nd quarter worth about $579,171,000. Bank of New York Mellon Corp acquired a new stake in shares of FedEx during the 2nd quarter valued at about $466,943,000. Finally, Legal & General Group Plc acquired a new stake in shares of FedEx during the 2nd quarter valued at about $448,121,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

FDX stock traded up $0.00 during midday trading on Thursday, reaching $289.04. 422,410 shares of the company's stock traded hands, compared to its average volume of 2,046,687. The company has a 50-day simple moving average of $312.21 and a two-hundred day simple moving average of $337.07. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 1-year low of $179.69 and a 1-year high of $345.36. The company has a market cap of $68.41 billion, a price-to-earnings ratio of 15.62, a PEG ratio of 1.54 and a beta of 1.28.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. On average, analysts anticipate that FedEx Corporation will post 17.55 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx's dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FDX shares. UBS Group dropped their price target on shares of FedEx from $445.00 to $350.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Wells Fargo & Company dropped their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. Stifel Nicolaus cut their target price on FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Barclays decreased their price target on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Finally, Truist Financial dropped their price objective on FedEx from $365.00 to $350.00 and set a "buy" rating for the company in a research note on Wednesday. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $354.64.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company's services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.

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