WealthShield Partners LLC Buys New Position in FedEx Corporation (NYSE:FDX)

Key Points

• WealthShield Partners LLC has acquired a new stake in FedEx worth approximately $286,000, totaling 1,171 shares.
• FedEx reported $6.07 EPS for the recent quarter, exceeding analysts' estimates, with a revenue of $22.20 billion.
• The company has recently announced a $1.45 per share quarterly dividend, yielding 2.6% annually, with a payout ratio of 34.36%.

WealthShield Partners LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,171 shares of the shipping service provider's stock, valued at approximately $286,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Transce3nd LLC purchased a new position in shares of FedEx during the fourth quarter worth approximately $26,000. Accredited Wealth Management LLC bought a new position in shares of FedEx during the fourth quarter valued at about $35,000. Abound Financial LLC purchased a new position in shares of FedEx in the first quarter worth about $38,000. Optiver Holding B.V. bought a new stake in shares of FedEx in the 4th quarter valued at about $39,000. Finally, Ameriflex Group Inc. bought a new stake in shares of FedEx in the 4th quarter valued at about $43,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

FDX opened at $224.47 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The company has a market cap of $52.95 billion, a price-to-earnings ratio of 13.30, a price-to-earnings-growth ratio of 1.18 and a beta of 1.30. The stock has a fifty day simple moving average of $228.20 and a two-hundred day simple moving average of $234.01. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

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 for the quarter, topping 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 firm had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the prior year, the firm earned $5.41 EPS. Research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm 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 dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.6%. FedEx's dividend payout ratio is 34.36%.

Analysts Set New Price Targets

FDX has been the topic of a number of analyst reports. Stifel Nicolaus set a $315.00 price target on FedEx in a research note on Wednesday, June 25th. Truist Financial restated a "buy" rating and issued a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. Wells Fargo & Company upped their price target 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. BMO Capital Markets dropped their price target on shares of FedEx from $275.00 to $260.00 and set a "market perform" rating for the company in a research report on Monday, May 19th. Finally, Sanford C. Bernstein decreased their price objective on shares of FedEx from $282.00 to $249.00 and set a "market perform" rating on the stock in a research report on Friday, June 13th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average target price of $283.25.

Insider Buying and Selling at FedEx

In other news, Director Marvin R. Ellison sold 3,610 shares of the business's stock in a transaction that occurred on Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the sale, the director directly owned 7,720 shares of the company's stock, valued at $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the company's stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the completion of the sale, the director owned 8,935 shares in the company, valued at $2,160,036.25. The trade was a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 9,343 shares of company stock valued at $2,228,816. Corporate insiders own 8.87% of the company's stock.

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.

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