Lido Advisors LLC Has $10.42 Million Stock Holdings in FedEx Corporation $FDX

Lido Advisors LLC raised its holdings in shares of FedEx Corporation (NYSE:FDX) by 45.6% in the 1st quarter, HoldingsChannel.com reports. The fund owned 29,205 shares of the shipping service provider’s stock after purchasing an additional 9,148 shares during the quarter. Lido Advisors LLC’s holdings in FedEx were worth $10,424,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in FDX. Hollencrest Capital Management bought a new stake in FedEx in the first quarter valued at about $25,000. Bayban bought a new position in FedEx during the first quarter worth about $26,000. EFG International AG acquired a new position in shares of FedEx during the 4th quarter worth about $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx during the 3rd quarter worth about $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the topic of several recent analyst reports. Wells Fargo & Company reduced their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Barclays lowered their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price on the stock. Rothschild & Co Redburn reduced their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Finally, Truist Financial decreased their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Stock Down 1.6%

Shares of FedEx stock opened at $315.93 on Friday. The firm has a market cap of $74.74 billion, a PE ratio of 17.07, a P/E/G ratio of 1.65 and a beta of 1.29. The business’s 50 day simple moving average is $337.21 and its 200 day simple moving average is $350.30. 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 52-week low of $172.88 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $22.19 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

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.