30,646 Shares in FedEx Corporation $FDX Purchased by First National Bank of Omaha

First National Bank of Omaha acquired a new position in shares of FedEx Corporation (NYSE:FDX) in the fourth quarter, Holdings Channel reports. The institutional investor acquired 30,646 shares of the shipping service provider’s stock, valued at approximately $8,920,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Norges Bank acquired a new stake in shares of FedEx during the 4th quarter worth about $859,085,000. Vanguard Group Inc. grew its position in FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after acquiring an additional 2,741,723 shares in the last quarter. Boston Partners acquired a new position in FedEx in the 3rd quarter valued at about $468,195,000. Dodge & Cox grew its position in FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after acquiring an additional 1,742,666 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after acquiring an additional 1,718,278 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FDX. Susquehanna lifted their target price on FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research report on Friday, March 20th. Jefferies Financial Group lifted their target price on FedEx from $425.00 to $450.00 and gave the company a “buy” rating in a research report on Tuesday, March 3rd. Truist Financial set a $155.00 target price on FedEx in a research report on Tuesday, June 2nd. Zacks Research downgraded FedEx from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 18th. Finally, Stifel Nicolaus lifted their target price on FedEx from $425.00 to $442.00 in a research report on Friday, April 10th. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $371.45.

Insider Buying and Selling

In other news, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the completion of the transaction, the director owned 10,038 shares in the company, valued at approximately $3,704,022. This trade represents a 36.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Kawal Preet sold 4,900 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the transaction, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. The trade was a 30.91% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Performance

Shares of FDX opened at $337.65 on Friday. The stock has a 50-day simple moving average of $371.84 and a 200-day simple moving average of $342.64. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The stock has a market capitalization of $80.57 billion, a PE ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $342.81.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The business’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter last year, the business posted $4.51 EPS. On average, analysts predict that FedEx Corporation will post 19.72 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 30.87%.

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.