Cetera Trust Company N.A Purchases Shares of 7,560 FedEx Corporation $FDX

Cetera Trust Company N.A purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 7,560 shares of the shipping service provider’s stock, valued at approximately $2,367,000. FedEx makes up about 1.2% of Cetera Trust Company N.A’s portfolio, making the stock its 22nd biggest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Hollencrest Capital Management purchased a new stake in shares of FedEx in the 1st quarter valued at $25,000. Bayban purchased a new position in FedEx in the 1st quarter worth $26,000. Solstein Capital LLC bought a new stake in FedEx in the second quarter worth $27,000. EFG International AG bought a new stake in FedEx in the fourth quarter worth $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in FedEx during the third quarter valued at about $28,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on the company. Truist Financial reduced their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. HSBC lowered their target price on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Stifel Nicolaus dropped their target price on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 price target on FedEx in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group began coverage on FedEx in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $350.54.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.65% of the company’s stock.

FedEx Stock Performance

Shares of NYSE:FDX opened at $334.05 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The company has a 50-day moving average price of $318.95 and a 200-day moving average price of $351.51. The company has a market cap of $79.06 billion, a price-to-earnings ratio of 18.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last posted 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 company had revenue of $23.26 billion for the quarter. As a group, equities analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

About FedEx

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.