Cooper Financial Group Purchases 322 Shares of FedEx Co. (NYSE:FDX)

Posted by Defense World Staff on Mar 23rd, 2023

Cooper Financial Group lifted its holdings in FedEx Co. (NYSE:FDX – Get Rating) by 21.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,799 shares of the shipping service provider’s stock after purchasing an additional 322 shares during the period. Cooper Financial Group’s holdings in FedEx were worth $312,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the business. Coston McIsaac & Partners acquired a new position in shares of FedEx during the second quarter worth approximately $30,000. Global Wealth Management Investment Advisory Inc. acquired a new stake in FedEx in the 1st quarter worth $35,000. CenterStar Asset Management LLC bought a new position in shares of FedEx during the 4th quarter worth about $29,000. My Personal CFO LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $31,000. Finally, Worth Asset Management LLC acquired a new position in shares of FedEx during the first quarter valued at about $41,000. Institutional investors and hedge funds own 72.02% of the company’s stock.

Insider Buying and Selling

In other news, Director Amy B. Lane bought 280 shares of the stock in a transaction on Tuesday, January 3rd. The stock was purchased at an average price of $175.83 per share, with a total value of $49,232.40. Following the completion of the purchase, the director now owns 1,529 shares of the company’s stock, valued at $268,844.07. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 8.62% of the stock is owned by insiders.

FedEx Trading Down 1.3 %

Shares of NYSE FDX opened at $217.06 on Thursday. The company’s 50 day simple moving average is $202.79 and its 200 day simple moving average is $181.56. The company has a debt-to-equity ratio of 0.81, a current ratio of 1.32 and a quick ratio of 1.27. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $248.76. The firm has a market capitalization of $54.56 billion, a P/E ratio of 18.74, a P/E/G ratio of 1.22 and a beta of 1.31.

FedEx (NYSE:FDX – Get Rating) last posted its quarterly earnings results on Thursday, March 16th. The shipping service provider reported $3.41 earnings per share for the quarter, beating analysts’ consensus estimates of $2.67 by $0.74. FedEx had a return on equity of 17.71% and a net margin of 3.23%. The company had revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.74 billion. During the same quarter in the prior year, the business posted $4.59 EPS. The firm’s quarterly revenue was down 6.2% on a year-over-year basis. On average, analysts predict that FedEx Co. will post 14.98 EPS for the current year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, April 3rd. Investors of record on Monday, March 13th will be given a $1.15 dividend. The ex-dividend date of this dividend is Friday, March 10th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.12%. FedEx’s dividend payout ratio is 39.72%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FDX shares. Evercore ISI boosted their price target on FedEx from $196.00 to $234.00 and gave the company an “outperform” rating in a research note on Monday, February 27th. Robert W. Baird boosted their price objective on FedEx from $230.00 to $250.00 in a research report on Friday, March 17th. Loop Capital raised their target price on FedEx from $179.00 to $241.00 and gave the stock a “hold” rating in a research report on Tuesday. The Goldman Sachs Group boosted their price target on shares of FedEx from $218.00 to $250.00 and gave the company a “buy” rating in a report on Friday, March 17th. Finally, Morgan Stanley raised their price objective on shares of FedEx from $130.00 to $145.00 and gave the stock an “equal weight” rating in a report on Monday, January 9th. Ten equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $232.68.

About FedEx

(Get Rating)

FedEx Corp. provides a broad portfolio of transportation, e-commerce and business services under the FedEx brand. It operates through the following segments: FedEx Express, FedEx Ground, FedEx Freight, FedEx Services, and Corporate, Other & Eliminations. The FedEx Express segment consists of domestic and international shipping services for delivery of packages and freight.