FedEx Corporation $FDX Position Raised by Kestra Investment Management LLC

Kestra Investment Management LLC grew its position in shares of FedEx Corporation (NYSE:FDX) by 14.7% in the third quarter, HoldingsChannel reports. The fund owned 19,439 shares of the shipping service provider’s stock after acquiring an additional 2,488 shares during the period. Kestra Investment Management LLC’s holdings in FedEx were worth $5,542,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in shares of FedEx in the first quarter worth $25,000. Solstein Capital LLC acquired a new position in FedEx during the second quarter worth $27,000. Putney Financial Group LLC acquired a new position in FedEx during the third quarter worth $25,000. Pathway Financial Advisers LLC bought a new position in FedEx in the third quarter valued at $27,000. Finally, C M Bidwell & Associates Ltd. bought a new position in FedEx in the second quarter valued at $31,000. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 3,014 shares of the company’s stock in a transaction dated Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the transaction, the executive vice president owned 9,656 shares in the company, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Tracy B. Brightman sold 26,611 shares of the company’s stock in a transaction dated Friday, October 30th. The shares were sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the transaction, the executive vice president owned 12,245 shares in the company, valued at approximately $3,877,746.60. This trade represents a 68.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the stock. UBS Group reissued a “hold” rating on shares of FedEx in a research report on Friday, October 30th. Raymond James Financial set a $162.00 price objective on FedEx in a report on Tuesday, November 3rd. HSBC raised FedEx from a “hold” rating to a “buy” rating and set a $370.00 target price on the stock in a research report on Thursday, October 29th. Bank of America dropped their target price on FedEx from $378.00 to $359.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. Finally, Evercore increased their price target on FedEx from $350.00 to $351.00 in a research report on Monday, September 28th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $359.16.

FedEx Stock Up 3.4%

FDX opened at $318.72 on Tuesday. FedEx Corporation has a 1-year low of $202.95 and a 1-year high of $345.36. The stock’s fifty day simple moving average is $302.64 and its 200 day simple moving average is $337.42. The company has a current ratio of 1.33, a quick ratio of 1.29 and a debt-to-equity ratio of 0.50. The stock has a market cap of $74.64 billion, a PE ratio of 19.60, a price-to-earnings-growth ratio of 1.33 and a beta of 1.27.

FedEx (NYSE:FDX) last released its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, topping analysts’ consensus estimates of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The firm had revenue of $22.93 billion during the quarter, compared to analysts’ expectations of $22.73 billion. During the same period in the previous year, the business posted $3.83 earnings per share. The company’s revenue for the quarter was up 12.3% compared to the same quarter last year. As a group, research analysts expect that FedEx Corporation will post 18.29 earnings per share for the current year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is presently 30.01%.

FedEx Profile

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution.

Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.

FedEx is headquartered in Memphis, Tennessee.