Edmond DE Rothschild Holding S.A. Buys New Position in FedEx Corporation $FDX

Edmond DE Rothschild Holding S.A. bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 2,295 shares of the shipping service provider’s stock, valued at approximately $719,000.

Other hedge funds have also added to or reduced their stakes in the company. BlackRock Inc. acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $6,508,103,000. Norges Bank bought a new stake in shares of FedEx in the 4th quarter valued at $859,085,000. Boston Partners acquired a new position in shares of FedEx during the 3rd quarter valued at $468,195,000. AQR Capital Management LLC lifted its position in shares of FedEx by 169.2% during the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after acquiring an additional 1,718,278 shares during the period. Finally, Bank of New York Mellon Corp bought a new position in FedEx during the second quarter worth $466,943,000. 84.47% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx 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 transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $326.15 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a fifty day simple moving average of $319.29 and a two-hundred day simple moving average of $351.72. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The firm has a market capitalization of $77.19 billion, a PE ratio of 17.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors 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 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of research reports. The Goldman Sachs Group reduced their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a report on Monday, June 1st. Truist Financial dropped their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Evercore set a $165.00 price objective on shares of FedEx in a research report on Friday, June 26th. Barclays reduced their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, Rothschild & Co Redburn dropped their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $350.54.

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.