Waddell & Associates LLC Has $9.84 Million Holdings in FedEx Corporation (NYSE:FDX)

Key Points

• Waddell & Associates LLC significantly increased its stake in FedEx by 980.0%, acquiring an additional 36,622 shares, bringing its total ownership to 40,359 shares valued at approximately $9.84 million.
• FedEx announced a quarterly dividend increase to $1.45 per share from the previous $1.38, resulting in an annualized dividend of $5.80 and a yield of 2.38%.
• Analysts have mixed opinions on FedEx stock, with target prices ranging from $260.00 to $315.00, highlighting a consensus rating of "Moderate Buy."

Waddell & Associates LLC lifted its holdings in shares of FedEx Corporation (NYSE:FDX - Free Report) by 980.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 40,359 shares of the shipping service provider's stock after buying an additional 36,622 shares during the period. FedEx accounts for approximately 1.2% of Waddell & Associates LLC's holdings, making the stock its 14th biggest position. Waddell & Associates LLC's holdings in FedEx were worth $9,839,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Regal Investment Advisors LLC grew its position in FedEx by 2.4% in the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider's stock worth $451,000 after purchasing an additional 38 shares during the last quarter. Garner Asset Management Corp grew its position in FedEx by 0.7% in the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider's stock worth $1,659,000 after purchasing an additional 41 shares during the last quarter. Curi RMB Capital LLC grew its position in FedEx by 1.3% in the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider's stock worth $1,017,000 after purchasing an additional 47 shares during the last quarter. Aaron Wealth Advisors LLC grew its position in FedEx by 2.6% in the 1st quarter. Aaron Wealth Advisors LLC now owns 1,875 shares of the shipping service provider's stock worth $457,000 after purchasing an additional 48 shares during the last quarter. Finally, Quadrant Capital Group LLC grew its position in FedEx by 1.9% in the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider's stock worth $749,000 after purchasing an additional 50 shares during the last quarter. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FDX shares. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price for the company in a research report on Thursday, July 3rd. Susquehanna increased their price objective on shares of FedEx from $290.00 to $295.00 and gave the company a "positive" rating in a report on Wednesday, June 25th. Wall Street Zen upgraded shares of FedEx from a "hold" rating to a "buy" rating in a report on Saturday, July 26th. Raymond James Financial reiterated an "outperform" rating and issued a $260.00 price objective (down from $275.00) on shares of FedEx in a report on Wednesday, June 25th. Finally, Wells Fargo & Company increased their price objective on shares of FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $283.25.

Insider Buying and Selling at FedEx

In other FedEx news, Director Marvin R. Ellison sold 3,610 shares of the 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 directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. This represents a 31.86% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Paul S. Walsh sold 3,610 shares of the stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total transaction of $860,226.90. Following the completion of the sale, the director directly owned 15,513 shares of the company's stock, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 9,343 shares of company stock valued at $2,228,816 in the last ninety days. Company insiders own 8.87% of the company's stock.

FedEx Stock Up 0.1%

Shares of FDX traded up $0.21 during mid-day trading on Thursday, hitting $224.07. 1,053,463 shares of the company's stock were exchanged, compared to its average volume of 1,996,204. The firm has a fifty day moving average of $227.75 and a two-hundred day moving average of $236.25. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $308.53. The stock has a market cap of $52.86 billion, a price-to-earnings ratio of 13.29, a P/E/G ratio of 1.22 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analyst estimates of $21.86 billion. During the same period last year, the business posted $5.41 EPS. On average, sell-side analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were paid a $1.45 dividend. The ex-dividend date of this dividend was Monday, June 23rd. This is a positive change from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. FedEx's dividend payout ratio (DPR) is presently 34.36%.

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.