FedEx Corporation (NYSE:FDX) Stock Holdings Lessened by Flagship Harbor Advisors LLC

Flagship Harbor Advisors LLC lessened its stake in shares of FedEx Corporation (NYSE:FDX) by 4.0% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,348 shares of the shipping service provider’s stock after selling 56 shares during the period. Flagship Harbor Advisors LLC’s holdings in FedEx were worth $329,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of FDX. Transce3nd LLC acquired a new position in shares of FedEx in the 4th quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx during the fourth quarter valued at about $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx during the fourth quarter valued at about $32,000. Accredited Wealth Management LLC acquired a new position in shares of FedEx in the fourth quarter worth about $35,000. Finally, Optiver Holding B.V. purchased a new position in shares of FedEx in the fourth quarter worth approximately $39,000. 84.47% of the stock is owned by institutional investors.

FedEx Stock Down 3.2%

FedEx stock opened at $222.07 on Thursday. The company has a current ratio of 1.24, a quick ratio of 1.19 and a debt-to-equity ratio of 0.73. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The firm’s fifty day simple moving average is $219.48 and its 200-day simple moving average is $243.71. The company has a market capitalization of $53.21 billion, a P/E ratio of 13.16, a P/E/G ratio of 1.15 and a beta of 1.35.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.54% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period last year, the company earned $5.41 earnings per share. Sell-side analysts forecast that FedEx Corporation will post 19.14 earnings per share for the current fiscal year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.61%. This is an increase from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is presently 36.39%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. upped their price target on shares of FedEx from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday. BMO Capital Markets reduced their target price on FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a report on Monday, May 19th. Sanford C. Bernstein lowered their price target on FedEx from $282.00 to $249.00 and set a “market perform” rating on the stock in a report on Friday, June 13th. Susquehanna upped their price target on FedEx from $290.00 to $295.00 and gave the company a “positive” rating in a research report on Wednesday. Finally, Truist Financial reissued a “buy” rating and issued a $275.00 price objective on shares of FedEx in a research note on Wednesday. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $285.75.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.