NEOS Investment Management LLC Grows Stake in FedEx Corporation $FDX

NEOS Investment Management LLC boosted its position in shares of FedEx Corporation (NYSE:FDX) by 13.0% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 35,017 shares of the shipping service provider’s stock after purchasing an additional 4,020 shares during the quarter. NEOS Investment Management LLC’s holdings in FedEx were worth $10,965,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Sivia Capital Partners LLC bought a new stake in shares of FedEx during the 2nd quarter valued at about $586,000. Canada Post Corp Registered Pension Plan lifted its stake in shares of FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after purchasing an additional 3,138 shares during the period. North Dakota State Investment Board purchased a new position in shares of FedEx in the fourth quarter worth approximately $2,122,000. First Nebraska Trust Co purchased a new position in shares of FedEx in the first quarter worth approximately $10,675,000. Finally, OMERS ADMINISTRATION Corp grew its position in FedEx by 104.9% during the first quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after buying an additional 8,868 shares during the period. 84.47% of the stock is currently owned by institutional investors.

Insider Transactions at FedEx

In other FedEx news, Director Paul Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on FDX shares. UBS Group decreased their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Wall Street Zen raised shares of FedEx to a “hold” rating in a research report on Saturday, August 8th. Truist Financial reduced their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research note on Thursday, June 25th. Bank of America raised their target price on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Finally, Citizens Jmp began coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Trading Down 0.7%

Shares of FedEx stock opened at $322.11 on Friday. 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 company has a fifty day moving average of $319.36 and a 200 day moving average of $349.10. The company has a market capitalization of $76.23 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.71 and a beta of 1.32. FedEx Corporation has a fifty-two week low of $177.65 and a fifty-two week high of $345.36.

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

FedEx Announces Dividend

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

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.