Trust Co. of Vermont Makes New $745,000 Investment in FedEx Corporation $FDX

Trust Co. of Vermont bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, HoldingsChannel reports. The firm bought 2,380 shares of the shipping service provider’s stock, valued at approximately $745,000.

Other large investors also recently made changes to their positions in the company. State Street Corp boosted its holdings in shares of FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after purchasing an additional 382,848 shares during the period. Franklin Resources Inc. increased its stake in FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after buying an additional 318,293 shares during the period. Geode Capital Management LLC increased its stake in FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after buying an additional 45,818 shares during the period. Invesco Ltd. lifted its position in FedEx by 3.1% in the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock worth $853,372,000 after buying an additional 108,426 shares in the last quarter. Finally, Norges Bank purchased a new stake in FedEx in the 4th quarter worth approximately $859,085,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was 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 in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $328.43 on Wednesday. The firm has a market cap of $77.70 billion, a price-to-earnings ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company’s fifty day moving average is $319.36 and its 200-day moving average is $351.63. 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 12 month low of $177.05 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (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%. Equities analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s payout ratio is currently 26.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the stock. TD Cowen lowered their price target on shares of FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Truist Financial cut their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Citigroup initiated coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. HSBC lowered their target price on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. Finally, Stephens raised FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

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.