FedEx Co. (NYSE:FDX) Stake Increased by Ferguson Wellman Capital Management Inc.

Ferguson Wellman Capital Management Inc. grew its holdings in FedEx Co. (NYSE:FDX) by 17.0% in the first quarter, Holdings Channel.com reports. The firm owned 1,096 shares of the shipping service provider’s stock after purchasing an additional 159 shares during the period. Ferguson Wellman Capital Management Inc.’s holdings in FedEx were worth $267,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the business. Transce3nd LLC purchased a new stake in shares of FedEx during the fourth quarter worth $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in shares of FedEx during the fourth quarter worth $28,000. Runnymede Capital Advisors Inc. purchased a new stake in shares of FedEx during the fourth quarter worth $32,000. Accredited Wealth Management LLC purchased a new stake in shares of FedEx during the fourth quarter worth $35,000. Finally, Optiver Holding B.V. purchased a new stake in shares of FedEx during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Stifel Nicolaus lowered their target price on shares of FedEx from $364.00 to $354.00 and set a “buy” rating on the stock in a research report on Friday, March 21st. Raymond James lowered their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating on the stock in a research report on Friday, March 21st. Truist Financial lowered their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a research report on Thursday, April 24th. Stephens reissued an “overweight” rating and set a $300.00 target price on shares of FedEx in a research report on Tuesday, May 20th. Finally, Sanford C. Bernstein lowered their target price 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. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $292.54.

FedEx Stock Down 0.5%

NYSE FDX opened at $223.95 on Friday. The stock has a market cap of $53.66 billion, a PE ratio of 14.27, a PEG ratio of 1.11 and a beta of 1.35. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.23. FedEx Co. has a twelve month low of $194.30 and a twelve month high of $313.84. The firm has a 50-day simple moving average of $216.82 and a 200 day simple moving average of $247.37.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 20th. The shipping service provider reported $4.51 EPS for the quarter, missing analysts’ consensus estimates of $4.56 by ($0.05). The business had revenue of $22.16 billion for the quarter, compared to the consensus estimate of $21.96 billion. FedEx had a return on equity of 15.59% and a net margin of 4.45%. The firm’s revenue for the quarter was up 1.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.86 EPS. On average, research analysts forecast that FedEx Co. will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. This represents a $5.80 dividend on an annualized basis and a yield of 2.59%. FedEx’s dividend payout ratio (DPR) is currently 36.39%.

Insiders Place Their Bets

In other FedEx news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $243.55, for a total transaction of $1,499,050.25. Following the completion of the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 8.87% of the company’s stock.

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.