Focus Partners Wealth Buys 37,407 Shares of FedEx Corporation $FDX

Focus Partners Wealth grew its stake in FedEx Corporation (NYSE:FDX) by 19.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 230,122 shares of the shipping service provider’s stock after purchasing an additional 37,407 shares during the quarter. Focus Partners Wealth owned approximately 0.10% of FedEx worth $66,407,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of the stock. OneAscent Financial Services LLC raised its position in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after purchasing an additional 29 shares during the period. Arete Wealth Advisors LLC boosted its position in shares of FedEx by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 30 shares during the period. LRI Investments LLC boosted its position in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after acquiring an additional 31 shares during the period. Cary Street Partners Investment Advisory LLC boosted its position in shares of FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock valued at $84,000 after acquiring an additional 31 shares during the period. Finally, Legacy Bridge LLC boosted its position in shares of FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock valued at $38,000 after acquiring an additional 33 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Down 0.1%

FDX stock opened at $338.12 on Tuesday. The company has a market cap of $80.68 billion, a PE ratio of 17.99, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The business has a 50-day simple moving average of $371.37 and a 200 day simple 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 quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.51 earnings per share. Sell-side analysts anticipate that FedEx Corporation will post 19.78 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be issued 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 dividend payout ratio is 30.87%.

Insider Transactions at FedEx

In other news, EVP Gina F. Adams sold 20,450 shares of the stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This represents a 51.31% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. The trade was a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock valued at $17,599,006 over the last quarter. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on FDX. Susquehanna boosted their target price on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research report on Friday, March 20th. Stifel Nicolaus boosted their target price on shares of FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Truist Financial set a $155.00 target price on shares of FedEx in a research report on Tuesday, June 2nd. Jefferies Financial Group boosted their target price on shares of FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Finally, Citigroup began coverage on shares of FedEx in a research report on Thursday, May 21st. They issued a “buy” rating and a $443.00 target price for the company. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $371.45.

About FedEx

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.