Caitong International Asset Management Co. Ltd Makes New Investment in FedEx Corporation (NYSE:FDX)

Caitong International Asset Management Co. Ltd bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 480 shares of the shipping service provider’s stock, valued at approximately $117,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Regal Investment Advisors LLC lifted its stake in FedEx by 2.4% during the fourth 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. Curi RMB Capital LLC lifted its stake in FedEx by 1.3% during the fourth 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 lifted its stake in FedEx by 2.6% during the first 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. SouthState Corp lifted its stake in shares of FedEx by 3.5% in the 1st quarter. SouthState Corp now owns 1,431 shares of the shipping service provider’s stock valued at $349,000 after acquiring an additional 48 shares during the last quarter. Finally, Benin Management CORP lifted its stake in shares of FedEx by 0.3% in the 1st quarter. Benin Management CORP now owns 16,198 shares of the shipping service provider’s stock valued at $3,949,000 after acquiring an additional 50 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

FedEx Price Performance

FedEx stock opened at $231.30 on Friday. FedEx Corporation has a 52 week low of $194.29 and a 52 week high of $308.53. The company’s 50 day moving average price is $229.27 and its two-hundred day moving average price is $232.45. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The stock has a market cap of $54.56 billion, a P/E ratio of 13.70, a P/E/G ratio of 1.20 and a beta of 1.30.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping the consensus estimate 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 analysts’ expectations of $21.86 billion. During the same quarter last year, the firm earned $5.41 EPS. On average, equities analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, October 1st. Investors of record on Monday, September 8th will be issued a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Monday, September 8th. FedEx’s payout ratio is 34.36%.

Analyst Ratings Changes

A number of brokerages have recently commented on FDX. Bank of America dropped their price target on FedEx from $270.00 to $245.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. Wells Fargo & Company increased their price target on FedEx from $220.00 to $235.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 25th. Citigroup increased their price target on FedEx from $259.00 to $278.00 and gave the company a “buy” rating in a research note on Wednesday, July 9th. Stephens reiterated an “overweight” rating and issued a $300.00 price target on shares of FedEx in a research note on Tuesday, May 20th. Finally, UBS Group dropped their price target on FedEx from $311.00 to $297.00 and set a “buy” rating for the company in a research note on Wednesday, June 25th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, nineteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $283.25.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 3,610 shares of FedEx stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the sale, the director owned 15,513 shares of the company’s stock, valued at approximately $3,696,592.77. The trade was a 18.88% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director R Brad Martin sold 2,123 shares of FedEx stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the sale, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This trade represents a 19.20% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,343 shares of company stock valued at $2,228,816. 8.87% of the stock is owned by company insiders.

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.