FedEx Corporation $FDX Stake Boosted by Lido Advisors LLC

Lido Advisors LLC increased its holdings in FedEx Corporation (NYSE:FDX) by 9.2% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 33,595 shares of the shipping service provider’s stock after acquiring an additional 2,825 shares during the quarter. Lido Advisors LLC’s holdings in FedEx were worth $9,578,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. OMERS ADMINISTRATION Corp raised its holdings in FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after purchasing an additional 8,868 shares during the period. First Nebraska Trust Co purchased a new position in FedEx during the first quarter valued at $10,675,000. NewEdge Advisors LLC lifted its position in FedEx by 74.1% during the second quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock valued at $10,757,000 after purchasing an additional 14,624 shares in the last quarter. Archer Investment Corp purchased a new position in FedEx during the second quarter valued at $1,147,000. Finally, Tidal Investments LLC grew its holdings in FedEx by 9.8% during the second quarter. Tidal Investments LLC now owns 48,662 shares of the shipping service provider’s stock valued at $15,238,000 after purchasing an additional 4,340 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.9%

Shares of FDX stock opened at $319.69 on Friday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. FedEx Corporation has a one year low of $207.83 and a one year high of $345.36. The company’s fifty day moving average price is $302.52 and its 200-day moving average price is $337.64. The company has a market capitalization of $74.87 billion, a price-to-earnings ratio of 16.03, a PEG ratio of 1.30 and a beta of 1.27.

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

FedEx Dividend Announcement

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

Insider Transactions at FedEx

In related news, EVP Gina F. Adams sold 3,014 shares of FedEx stock in a transaction that occurred on Monday, November 2nd. The stock was sold at an average price of $317.06, for a total transaction of $955,618.84. Following the sale, the executive vice president owned 9,656 shares of the company’s stock, valued at approximately $3,061,531.36. This trade represents a 23.79% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Claude F. Russ sold 16,762 shares of the business’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $316.11, for a total value of $5,298,635.82. Following the completion of the transaction, the chief financial officer directly owned 4,387 shares in the company, valued at approximately $1,386,774.57. This represents a 79.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 46,387 shares of company stock valued at $14,681,426 over the last 90 days. Company insiders own 0.65% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have commented on the company. Weiss Ratings cut FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday, October 29th. Wall Street Zen raised FedEx to a “hold” rating in a research note on Saturday, August 8th. Sanford C. Bernstein set a $377.00 price objective on FedEx in a research report on Monday, October 26th. JPMorgan Chase & Co. boosted their price objective on FedEx from $399.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Finally, BNP Paribas Exane boosted their price objective on FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have issued 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 currently has an average rating of “Moderate Buy” and an average price target of $359.16.

About FedEx

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.