Vanguard Personalized Indexing Management LLC boosted its position in FedEx Corporation (NYSE:FDX – Free Report) by 8.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 36,079 shares of the shipping service provider’s stock after acquiring an additional 2,851 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in FedEx were worth $10,422,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC acquired a new position in shares of FedEx during the fourth quarter worth about $29,000. Tucker Asset Management LLC acquired a new position in shares of FedEx during the fourth quarter worth about $29,000. Wilkerson Advisory Group LLC acquired a new position in shares of FedEx during the fourth quarter worth about $29,000. ORG Partners LLC lifted its stake in shares of FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 35 shares in the last quarter. Finally, Camelot Portfolios LLC acquired a new position in shares of FedEx during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.
FedEx Stock Performance
Shares of FDX stock opened at $338.12 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The business has a 50 day moving average of $371.37 and a two-hundred day moving average of $343.63. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.37. The company has a market cap of $80.68 billion, a P/E ratio of 17.99, a PEG ratio of 1.54 and a beta of 1.28.
FedEx Cuts Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. The ex-dividend date is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. FedEx’s payout ratio is currently 30.87%.
Insiders Place Their Bets
In other FedEx news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the transaction, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 48,104 shares of company stock valued at $17,599,006. Corporate insiders own 0.53% of the company’s stock.
Analyst Ratings Changes
A number of brokerages have commented on FDX. Weiss Ratings cut FedEx from a “buy (b)” rating to a “buy (b-)” rating in a research note on Wednesday, June 3rd. Wolfe Research cut their price target on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Bank of America cut their price target on FedEx from $440.00 to $376.00 and set a “buy” rating on the stock in a research note on Tuesday, June 2nd. Wells Fargo & Company upgraded FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. Finally, Zacks Research cut FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $371.45.
Check Out Our Latest Research Report on FedEx
FedEx Profile
FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.
FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.
Further Reading
- Five stocks we like better than FedEx
- These 5 Companies Just Made a Massive Bet on Themselves
- 5 Stocks Built to Thrive in a Higher-for-Longer Economy
- RH’s Strong Q1 Still Leaves Investors With One Big Question
- Iran Ceasefire or Not, These 3 Companies Could Win
Want to see what other hedge funds are holding FDX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for FedEx Corporation (NYSE:FDX – Free Report).
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
