Vestor Capital LLC trimmed its holdings in shares of FedEx Corporation (NYSE:FDX – Free Report) by 98.9% during the first quarter, Holdings Channel reports. The fund owned 155 shares of the shipping service provider’s stock after selling 14,442 shares during the quarter. Vestor Capital LLC’s holdings in FedEx were worth $55,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently bought and sold shares of FDX. Sivia Capital Partners LLC bought a new position in FedEx during the 2nd quarter valued at $586,000. CWM LLC increased its position in shares of FedEx by 32.2% in the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after purchasing an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its stake in shares of FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after purchasing an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after purchasing an additional 6,864 shares in the last quarter. Finally, North Dakota State Investment Board bought a new position in shares of FedEx during the fourth quarter worth about $2,122,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.
FedEx Price Performance
Shares of NYSE:FDX opened at $307.41 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The firm has a 50-day simple moving average of $328.67 and a 200 day simple moving average of $350.16. The company has a market cap of $72.73 billion, a PE ratio of 16.61, a P/E/G ratio of 1.58 and a beta of 1.29.
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 dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on FDX shares. Rothschild & Co Redburn decreased their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Truist Financial cut their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Wolfe Research reduced their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a report on Tuesday, April 7th. Seaport Research Partners initiated coverage on FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating for the company. Finally, Stifel Nicolaus lowered their price target on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.
View Our Latest Stock Report on FDX
Insider Buying and Selling at FedEx
In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
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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