Dakota Wealth Management Buys Shares of 25,700 FedEx Corporation $FDX

Dakota Wealth Management purchased a new position in FedEx Corporation (NYSE:FDX) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 25,700 shares of the shipping service provider’s stock, valued at approximately $7,424,000.

Other institutional investors have also recently made changes to their positions in the company. CoreCap Advisors LLC raised its position in shares of FedEx by 22.2% during the 4th quarter. CoreCap Advisors LLC now owns 590 shares of the shipping service provider’s stock valued at $170,000 after buying an additional 107 shares in the last quarter. Mather Group LLC. increased its stake in FedEx by 4.5% in the fourth quarter. Mather Group LLC. now owns 4,254 shares of the shipping service provider’s stock valued at $1,229,000 after acquiring an additional 183 shares during the last quarter. Waller Financial Planning Group Inc. bought a new position in FedEx in the fourth quarter valued at $200,000. Kathmere Capital Management LLC purchased a new stake in FedEx during the fourth quarter valued at about $487,000. Finally, Triangle Securities Wealth Management bought a new stake in FedEx during the fourth quarter worth about $289,000. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of research reports. Evercore upped their price objective on FedEx from $364.00 to $380.00 in a report on Tuesday, February 24th. Truist Financial upped their target price on FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a research note on Friday, March 20th. Argus increased their price target on shares of FedEx from $250.00 to $350.00 and gave the company a “buy” rating in a research report on Wednesday, January 21st. BMO Capital Markets lifted their price target on shares of FedEx from $400.00 to $410.00 and gave the stock a “market perform” rating in a research note on Friday, March 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of FedEx from $424.00 to $432.00 and gave the stock a “neutral” rating in a report on Friday, March 20th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $393.85.

FedEx Trading Down 2.2%

NYSE FDX opened at $349.83 on Friday. The firm has a market cap of $83.47 billion, a PE ratio of 18.62, a price-to-earnings-growth ratio of 1.57 and a beta of 1.29. FedEx Corporation has a 1-year low of $194.29 and a 1-year high of $392.86. The stock has a 50-day moving average of $354.70 and a 200-day moving average of $294.44. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $4.51 EPS. As a group, sell-side analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Investors of record on Monday, March 9th will be paid a $1.45 dividend. This represents a $5.80 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Monday, March 9th. FedEx’s payout ratio 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.