FedEx Corporation (NYSE:FDX) Shares Bought by Live Oak Investment Partners

Live Oak Investment Partners boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 22.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,353 shares of the shipping service provider’s stock after buying an additional 246 shares during the period. Live Oak Investment Partners’ holdings in FedEx were worth $330,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Transce3nd LLC purchased a new stake in FedEx in the fourth quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx in the fourth quarter valued at $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx in the fourth quarter valued at $32,000. Accredited Wealth Management LLC purchased a new stake in FedEx in the fourth quarter valued at $35,000. Finally, Optiver Holding B.V. purchased a new stake in FedEx in the fourth quarter valued at $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now directly owns 23,347 shares in the company, valued at approximately $5,686,161.85. This trade represents a 20.86% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 8.87% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently issued reports on FDX shares. Stifel Nicolaus cut their price objective on FedEx from $354.00 to $329.00 and set a “buy” rating on the stock in a report on Tuesday. Truist Financial cut their price objective on FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Sanford C. Bernstein cut their price objective on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. JPMorgan Chase & Co. cut their price objective on FedEx from $323.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, March 21st. Finally, Deutsche Bank Aktiengesellschaft started coverage on FedEx in a report on Friday, March 7th. They issued a “buy” rating and a $337.00 price objective on the stock. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $291.50.

FedEx Trading Down 0.1%

NYSE:FDX opened at $229.06 on Wednesday. The stock has a 50-day simple moving average of $219.11 and a 200-day simple moving average of $243.86. The stock has a market cap of $54.88 billion, a P/E ratio of 14.37, a P/E/G ratio of 1.15 and a beta of 1.35. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.19 and a current ratio of 1.24.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.86 billion. FedEx had a return on equity of 16.00% and a net margin of 4.46%. During the same period in the prior year, the firm earned $5.41 EPS. As a group, analysts anticipate that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be given a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a yield of 2.53%. This is a boost from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is presently 36.39%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.