Dayah Capital LLC decreased its holdings in FedEx Corporation (NYSE:FDX – Free Report) by 25.2% in the 1st quarter, HoldingsChannel reports. The firm owned 7,103 shares of the shipping service provider’s stock after selling 2,397 shares during the quarter. FedEx makes up 1.0% of Dayah Capital LLC’s portfolio, making the stock its 20th largest holding. Dayah Capital LLC’s holdings in FedEx were worth $2,530,000 at the end of the most recent quarter.
Other large investors also recently modified their holdings of the company. Kentucky Retirement Systems grew its position in FedEx by 82.6% in the 1st quarter. Kentucky Retirement Systems now owns 24,574 shares of the shipping service provider’s stock valued at $8,753,000 after buying an additional 11,118 shares in the last quarter. Oddo BHF Asset Management Sas raised its position in shares of FedEx by 4.2% during the 1st quarter. Oddo BHF Asset Management Sas now owns 10,802 shares of the shipping service provider’s stock worth $3,847,000 after buying an additional 437 shares in the last quarter. Bull Harbor Capital LLC acquired a new stake in shares of FedEx in the 1st quarter worth approximately $2,400,000. Strategic Investment Advisors MI lifted its stake in shares of FedEx by 3.5% in the 1st quarter. Strategic Investment Advisors MI now owns 1,782 shares of the shipping service provider’s stock worth $635,000 after acquiring an additional 60 shares during the period. Finally, Opal Capital LLC boosted its holdings in shares of FedEx by 227.7% in the first quarter. Opal Capital LLC now owns 2,274 shares of the shipping service provider’s stock valued at $810,000 after acquiring an additional 1,580 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.
Insider Transactions at FedEx
In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.
FedEx Trading Down 0.0%
FedEx (NYSE:FDX – Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.
FedEx Cuts Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s dividend payout ratio is 26.36%.
Wall Street Analyst Weigh In
A number of research analysts recently commented on FDX shares. Argus raised their price objective on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Citigroup assumed coverage on FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Bank of America increased their price target on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. BNP Paribas Exane lowered their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Stifel Nicolaus dropped their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.
Check Out Our Latest Stock Report on FedEx
FedEx Company 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.
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