OneDigital Investment Advisors LLC Takes Position in FedEx Corporation $FDX

OneDigital Investment Advisors LLC bought a new stake in FedEx Corporation (NYSE:FDX) during the second quarter, Holdings Channel.com reports. The fund bought 3,590 shares of the shipping service provider’s stock, valued at approximately $1,124,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in shares of FedEx in the 1st quarter valued at about $25,000. Bayban acquired a new position in FedEx during the first quarter worth approximately $26,000. EFG International AG acquired a new position in FedEx during the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx in the third quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $29,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FDX. Truist Financial lowered their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Bank of America upped their price target on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective on the stock. UBS Group reduced their target price on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Finally, Citigroup started coverage on shares of FedEx in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Down 0.8%

FDX stock opened at $331.86 on Tuesday. The stock has a market capitalization of $78.51 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a fifty day moving average of $319.43 and a 200-day moving average of $351.54. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings results 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 for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

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

FedEx 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.