FedEx Co. (NYSE:FDX) Shares Acquired by NorthCrest Asset Manangement LLC

NorthCrest Asset Manangement LLC grew its holdings in FedEx Co. (NYSE:FDX) by 2.5% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 20,006 shares of the shipping service provider’s stock after purchasing an additional 482 shares during the quarter. NorthCrest Asset Manangement LLC’s holdings in FedEx were worth $4,877,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new position in FedEx during the 4th quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd bought a new position in shares of FedEx in the 4th quarter worth about $28,000. Runnymede Capital Advisors Inc. bought a new position in shares of FedEx in the 4th quarter worth about $32,000. Accredited Wealth Management LLC acquired a new stake in shares of FedEx in the 4th quarter worth about $35,000. Finally, Optiver Holding B.V. acquired a new stake in shares of FedEx in the 4th quarter worth about $39,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Stock Performance

Shares of FDX opened at $223.95 on Friday. FedEx Co. has a one year low of $194.30 and a one year high of $313.84. The company has a 50-day moving average of $216.82 and a two-hundred day moving average of $247.37. The stock has a market cap of $53.66 billion, a price-to-earnings 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 current ratio of 1.23 and a quick ratio of 1.19.

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

FedEx Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Truist Financial dropped their price objective on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Wells Fargo & Company lowered their target price on shares of FedEx from $260.00 to $220.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 22nd. 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 note on Friday, March 21st. Cfra Research raised shares of FedEx to a “hold” rating in a research note on Thursday, March 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 note on Friday. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $292.54.

Insider Buying and Selling

In related news, COO John Alan Smith sold 6,155 shares of the firm’s stock in a transaction that occurred on 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 sale, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 8.87% of the stock is currently owned by corporate 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.