FedEx Corporation (NYSE:FDX) Holdings Cut by XTX Topco Ltd

Key Points

• XTX Topco Ltd reduced its holdings in FedEx Corporation by 94.3% during the first quarter, selling 17,104 shares and leaving it with 1,034 shares valued at approximately $252,000.
• FedEx reported earnings of $6.07 per share for the last quarter, exceeding expectations, with revenues of $22.20 billion compared to the anticipated $21.86 billion.
• FedEx announced a quarterly dividend of $1.45, payable on October 1st, marking an annualized dividend of $5.80 with a yield of 2.6%.

XTX Topco Ltd reduced its position in FedEx Corporation (NYSE:FDX - Free Report) by 94.3% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,034 shares of the shipping service provider's stock after selling 17,104 shares during the period. XTX Topco Ltd's holdings in FedEx were worth $252,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its stake in shares of FedEx by 21.1% in the 1st quarter. Golden State Wealth Management LLC now owns 362 shares of the shipping service provider's stock valued at $88,000 after purchasing an additional 63 shares in the last quarter. NBC Securities Inc. acquired a new stake in shares of FedEx in the 1st quarter valued at about $147,000. Farther Finance Advisors LLC raised its stake in shares of FedEx by 27.6% in the 1st quarter. Farther Finance Advisors LLC now owns 2,223 shares of the shipping service provider's stock valued at $538,000 after purchasing an additional 481 shares in the last quarter. Parvin Asset Management LLC acquired a new stake in shares of FedEx in the 4th quarter valued at about $281,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH raised its stake in FedEx by 6.1% during the first quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 160,596 shares of the shipping service provider's stock worth $39,150,000 after acquiring an additional 9,216 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 3,610 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $3,696,592.77. This trade represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Marvin R. Ellison sold 3,610 shares of the firm'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 transaction of $855,353.40. Following the sale, the director owned 7,720 shares of the company's stock, valued at $1,829,176.80. The trade was a 31.86% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 8.87% of the company's stock.

FedEx Price Performance

Shares of FedEx stock traded up $0.80 on Thursday, hitting $231.30. The company had a trading volume of 1,615,778 shares, compared to its average volume of 2,000,705. The business has a 50-day simple moving average of $228.97 and a 200-day simple moving average of $232.79. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The company has a market cap of $54.56 billion, a PE ratio of 13.70, a PEG ratio of 1.20 and a beta of 1.30. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last issued 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. The firm had revenue of $22.20 billion during the quarter, compared to analysts' expectations of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same period last year, the firm posted $5.41 earnings per share. Research analysts expect that FedEx Corporation will post 19.14 EPS for the current fiscal year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.5%. The ex-dividend date is Monday, September 8th. FedEx's dividend payout ratio (DPR) is presently 34.36%.

Analysts Set New Price Targets

Several research firms recently weighed in on FDX. Stifel Nicolaus set a $315.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Cowen reiterated a "buy" rating on shares of FedEx in a research note on Wednesday, June 25th. TD Cowen dropped their price objective on shares of FedEx from $310.00 to $269.00 and set a "buy" rating on the stock in a research note on Wednesday, June 25th. BNP Paribas Exane upgraded shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 price objective on the stock in a research note on Thursday, July 3rd. Finally, Truist Financial reiterated a "buy" rating and set a $275.00 price objective on shares of FedEx in a research note on Wednesday, June 25th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $283.25.

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.