NewEdge Advisors LLC Boosts Stake in FedEx Corporation $FDX

NewEdge Advisors LLC raised its holdings in FedEx Corporation (NYSE:FDX) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,730 shares of the shipping service provider’s stock after purchasing an additional 1,891 shares during the quarter. NewEdge Advisors LLC’s holdings in FedEx were worth $7,027,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Ferguson Wellman Capital Management Inc. increased its stake in shares of FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 26 shares in the last quarter. OneAscent Financial Services LLC lifted its stake in FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after purchasing an additional 29 shares during the last quarter. Whipplewood Advisors LLC lifted its position in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake in shares of FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after purchasing an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC boosted its position in FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 30 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE:FDX opened at $324.52 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market cap of $76.78 billion, a price-to-earnings ratio of 17.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30. The business has a 50-day simple moving average of $319.20 and a two-hundred day simple moving average of $350.71. FedEx Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $345.36.

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

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. 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 (DPR) is currently 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred 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 sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on FDX shares. Citigroup assumed coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued an “outperform” rating on the stock. Citizens Jmp assumed coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target for the company. Stephens upgraded shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. TD Cowen reduced their target price on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus 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.