FedEx Co. (NYSE:FDX) Shares Bought by Mission Wealth Management LP
Mission Wealth Management LP grew its position in shares of FedEx Co. (NYSE:FDX) by 26.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,776 shares of the shipping service provider’s stock after buying an additional 371 shares during the quarter. Mission Wealth Management LP’s holdings in FedEx were worth $322,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently modified their holdings of the company. Cordasco Financial Network grew its stake in FedEx by 181.8% during the first quarter. Cordasco Financial Network now owns 155 shares of the shipping service provider’s stock worth $28,000 after buying an additional 100 shares during the last quarter. Covenant Multifamily Offices LLC bought a new stake in FedEx during the first quarter worth about $29,000. Berman Capital Advisors LLC bought a new stake in FedEx during the fourth quarter worth about $25,000. Evolution Wealth Advisors LLC bought a new stake in FedEx during the first quarter worth about $31,000. Finally, Advocacy Wealth Management Services LLC grew its stake in shares of FedEx by 52.5% during the first quarter. Advocacy Wealth Management Services LLC now owns 183 shares of the shipping service provider’s stock valued at $34,000 after purchasing an additional 63 shares during the last quarter. 69.45% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE FDX opened at $164.55 on Friday. FedEx Co. has a fifty-two week low of $150.68 and a fifty-two week high of $264.99. The company has a market capitalization of $42.88 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.79 and a beta of 1.69. The company has a current ratio of 1.46, a quick ratio of 1.40 and a debt-to-equity ratio of 0.87.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 8th. Investors of record on Monday, June 24th will be issued a $0.65 dividend. The ex-dividend date is Friday, June 21st. This represents a $2.60 annualized dividend and a yield of 1.58%. FedEx’s dividend payout ratio is currently 16.98%.
FDX has been the topic of several research analyst reports. UBS Group decreased their price target on shares of FedEx from $161.00 to $145.00 and set a “sell” rating on the stock in a research note on Friday, May 31st. Berenberg Bank cut shares of FedEx from a “buy” rating to a “hold” rating and decreased their price target for the company from $245.00 to $200.00 in a research note on Monday, April 1st. JPMorgan Chase & Co. cut shares of FedEx from an “overweight” rating to a “neutral” rating and decreased their price target for the company from $227.00 to $202.00 in a research note on Wednesday, March 20th. Credit Suisse Group increased their price target on shares of FedEx from $236.00 to $241.00 and gave the company an “outperform” rating in a research note on Wednesday, March 20th. Finally, Cowen reissued an “outperform” rating and set a $237.00 price target (down from $242.00) on shares of FedEx in a research note on Thursday, March 14th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $202.43.
In related news, Director Susan C. Schwab sold 3,000 shares of the stock in a transaction that occurred on Wednesday, March 27th. The shares were sold at an average price of $175.11, for a total value of $525,330.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Frederick W. Smith sold 155,650 shares of the stock in a transaction on Friday, April 5th. The stock was sold at an average price of $189.83, for a total transaction of $29,547,039.50. Following the completion of the sale, the chief executive officer now owns 14,945,124 shares in the company, valued at $2,837,032,888.92. The disclosure for this sale can be found here. Insiders sold 185,650 shares of company stock worth $34,751,470 over the last 90 days. 8.50% of the stock is currently owned by company insiders.
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FedEx Corporation provides transportation, e-commerce, and business services worldwide. The company's FedEx Express segment offers shipping services for delivery of packages and freight. Its FedEx Ground segment provides business and residential money-back guaranteed ground package delivery services; and consolidates and delivers low-weight and less time-sensitive business-to-consumer packages.
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