American Trust Makes New Investment in FedEx Co. (NYSE:FDX)

Posted by Defense World Staff on Sep 17th, 2023

American Trust bought a new position in FedEx Co. (NYSE:FDX – Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 920 shares of the shipping service provider’s stock, valued at approximately $210,000.

A number of other hedge funds have also added to or reduced their stakes in FDX. Allworth Financial LP grew its stake in shares of FedEx by 0.9% during the 1st quarter. Allworth Financial LP now owns 5,236 shares of the shipping service provider’s stock worth $1,196,000 after purchasing an additional 45 shares during the period. Ferguson Wellman Capital Management Inc. grew its stake in shares of FedEx by 1.1% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 4,098 shares of the shipping service provider’s stock worth $936,000 after purchasing an additional 46 shares during the period. Whittier Trust Co. of Nevada Inc. grew its stake in shares of FedEx by 4.3% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,105 shares of the shipping service provider’s stock worth $252,000 after purchasing an additional 46 shares during the period. Salem Investment Counselors Inc. grew its stake in FedEx by 0.3% in the 4th quarter. Salem Investment Counselors Inc. now owns 16,651 shares of the shipping service provider’s stock valued at $2,903,000 after acquiring an additional 47 shares during the last quarter. Finally, Laraway Financial Advisors Inc grew its stake in FedEx by 2.0% in the 1st quarter. Laraway Financial Advisors Inc now owns 2,490 shares of the shipping service provider’s stock valued at $575,000 after acquiring an additional 50 shares during the last quarter. 73.61% of the stock is currently owned by institutional investors.

FedEx Trading Down 1.1 %

NYSE:FDX opened at $254.08 on Friday. The stock has a market cap of $63.90 billion, a PE ratio of 16.39, a price-to-earnings-growth ratio of 1.21 and a beta of 1.36. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.37 and a quick ratio of 1.33. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $270.95. The stock’s 50-day moving average is $261.00 and its two-hundred day moving average is $238.08.

FedEx (NYSE:FDX – Get Free Report) last announced its quarterly earnings results on Tuesday, June 20th. The shipping service provider reported $4.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.85 by $0.09. FedEx had a return on equity of 15.32% and a net margin of 4.41%. The business had revenue of $21.93 billion during the quarter, compared to analyst estimates of $22.55 billion. During the same period in the previous year, the company earned $6.87 EPS. The firm’s revenue was down 10.1% on a year-over-year basis. As a group, equities research analysts forecast that FedEx Co. will post 17.37 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, October 2nd. Investors of record on Monday, September 11th will be issued a $1.26 dividend. The ex-dividend date of this dividend is Friday, September 8th. This represents a $5.04 annualized dividend and a yield of 1.98%. FedEx’s dividend payout ratio (DPR) is currently 32.52%.

Insider Buying and Selling

In other FedEx news, EVP Michael C. Lenz sold 5,745 shares of FedEx stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the transaction, the executive vice president now directly owns 22,478 shares of the company’s stock, valued at approximately $5,886,538.64. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, EVP Michael C. Lenz sold 5,745 shares of the firm’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $261.88, for a total value of $1,504,500.60. Following the completion of the sale, the executive vice president now directly owns 22,478 shares in the company, valued at $5,886,538.64. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP Robert B. Carter sold 19,270 shares of the firm’s stock in a transaction on Wednesday, June 28th. The shares were sold at an average price of $246.00, for a total value of $4,740,420.00. Following the completion of the sale, the executive vice president now owns 58,875 shares of the company’s stock, valued at $14,483,250. The disclosure for this sale can be found here. In the last ninety days, insiders sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. Loop Capital lowered their price objective on shares of FedEx from $263.00 to $255.00 in a research note on Thursday, June 22nd. Wells Fargo & Company increased their price objective on shares of FedEx from $240.00 to $270.00 and gave the company an “equal weight” rating in a research note on Tuesday, September 12th. Barclays upped their target price on shares of FedEx from $280.00 to $300.00 and gave the company an “overweight” rating in a report on Friday. JPMorgan Chase & Co. upped their target price on shares of FedEx from $228.00 to $251.00 in a report on Wednesday, June 21st. Finally, StockNews.com initiated coverage on shares of FedEx in a report on Thursday, August 17th. They set a “buy” rating on the stock. Eight analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $254.26.

Check Out Our Latest Report on FedEx

About FedEx

(Free Report)

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.