Trek Financial LLC lifted its position in shares of FedEx Corporation (NYSE:FDX – Free Report) by 1,179.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,277 shares of the shipping service provider’s stock after acquiring an additional 7,630 shares during the quarter. Trek Financial LLC’s holdings in FedEx were worth $2,360,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. BlackRock Inc. acquired a new position in FedEx during the 2nd quarter worth approximately $6,508,103,000. Primecap Management Co. CA purchased a new position in shares of FedEx during the 2nd quarter worth approximately $2,554,138,000. Dimensional Fund Advisors LP lifted its holdings in shares of FedEx by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after buying an additional 52,963 shares during the period. Bank of New York Mellon Corp lifted its holdings in shares of FedEx by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after buying an additional 125,950 shares during the period. Finally, Bank of America Corp DE acquired a new stake in shares of FedEx in the 2nd quarter valued at approximately $579,171,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Price Performance
Shares of NYSE:FDX opened at $318.67 on Tuesday. The firm has a market capitalization of $74.63 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 1.23 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The business’s 50 day simple moving average is $304.17 and its 200-day simple moving average is $337.19. FedEx Corporation has a 12 month low of $199.86 and a 12 month high of $345.36.
FedEx (NYSE:FDX – Get Free Report) last released its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. The firm had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. FedEx had a return on equity of 16.15% and a net margin of 4.09%. FedEx’s quarterly revenue was up 12.3% on a year-over-year basis. During the same period last year, the business posted $3.83 EPS. As a group, equities analysts forecast that FedEx Corporation will post 18.28 earnings per share for the current fiscal year.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a $1.22 dividend. The ex-dividend date was Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is currently 30.01%.
Analyst Upgrades and Downgrades
FDX has been the topic of a number of analyst reports. JPMorgan Chase & Co. lifted their price target on FedEx from $399.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. UBS Group reiterated a “hold” rating on shares of FedEx in a research report on Friday. Truist Financial reduced their target price on FedEx from $365.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Weiss Ratings lowered shares of FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. Finally, BNP Paribas Exane upped their price target on shares of FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $365.88.
View Our Latest Stock Report on FDX
Insider Activity
In related news, EVP Tracy Brightman sold 26,611 shares of the business’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $316.68, for a total value of $8,427,171.48. Following the sale, the executive vice president directly owned 12,245 shares in the company, valued at $3,877,746.60. The trade was a 68.49% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.65% of the stock is owned by company insiders.
FedEx Company Profile
FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.
The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.
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