FedEx Corporation $FDX Stock: Ninety One UK Ltd Raises Holdings

Ninety One UK Ltd increased its holdings in shares of FedEx Corporation (NYSE:FDX) by 461.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 1,034,829 shares of the shipping service provider’s stock after purchasing an additional 850,597 shares during the period. Ninety One UK Ltd’s holdings in FedEx were worth $295,019,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. OMERS ADMINISTRATION Corp lifted its stake in shares of FedEx by 104.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after buying an additional 8,868 shares during the last quarter. First Nebraska Trust Co bought a new stake in shares of FedEx during the 1st quarter worth about $10,675,000. NewEdge Advisors LLC boosted its holdings in shares of FedEx by 74.1% during the 2nd quarter. NewEdge Advisors LLC now owns 34,354 shares of the shipping service provider’s stock worth $10,757,000 after buying an additional 14,624 shares during the period. Louisiana State Employees Retirement System acquired a new position in FedEx in the 1st quarter valued at about $3,918,000. Finally, Archer Investment Corp acquired a new position in FedEx in the 2nd quarter valued at about $1,147,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FedEx stock traded up $1.49 during trading on Thursday, reaching $292.77. The company’s stock had a trading volume of 301,392 shares, compared to its average volume of 2,021,361. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $310.36 and its 200-day moving average price is $334.79. FedEx Corporation has a 52 week low of $186.40 and a 52 week high of $345.36. The firm has a market cap of $69.29 billion, a PE ratio of 15.80, a P/E/G ratio of 1.55 and a beta of 1.28.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion for the quarter. Equities analysts forecast that FedEx Corporation will post 17.53 earnings per share for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio is presently 26.36%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. UBS Group lowered their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Barclays reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Truist Financial decreased their target price on FedEx from $365.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, October 7th. Finally, Bank of America reiterated a “buy” rating and set a $140.00 target price on shares of FedEx in a research note on Tuesday, September 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $354.64.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.