Cetera Investment Advisers Purchases 6,207 Shares of FedEx Corporation $FDX

Cetera Investment Advisers boosted its position in FedEx Corporation (NYSE:FDX) by 5.9% during the 1st quarter, HoldingsChannel.com reports. The firm owned 111,663 shares of the shipping service provider’s stock after purchasing an additional 6,207 shares during the quarter. Cetera Investment Advisers’ holdings in FedEx were worth $39,772,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FDX. Sivia Capital Partners LLC bought a new stake in FedEx during the second quarter valued at $586,000. CWM LLC increased its stake in FedEx by 32.2% in the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after acquiring an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan increased its stake in FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after acquiring an additional 6,864 shares in the last quarter. Finally, North Dakota State Investment Board purchased a new stake in shares of FedEx in the 4th quarter valued at about $2,122,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Performance

NYSE:FDX opened at $314.77 on Friday. The business has a 50 day moving average of $335.98 and a 200 day moving average of $350.05. The company has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. On average, sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s dividend payout ratio is 26.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of several recent analyst reports. Wall Street Zen raised FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. BNP Paribas Exane dropped their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Rothschild & Co Redburn cut their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. Truist Financial decreased their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Finally, Stephens upgraded shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Company 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.