Level Four Advisory Services LLC trimmed its holdings in shares of FedEx Co. (NYSE:FDX – Free Report) by 1.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,866 shares of the shipping service provider’s stock after selling 49 shares during the period. Level Four Advisory Services LLC’s holdings in FedEx were worth $1,206,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Lavaca Capital LLC raised its stake in shares of FedEx by 71.4% during the first quarter. Lavaca Capital LLC now owns 2,946 shares of the shipping service provider’s stock valued at $651,000 after purchasing an additional 1,227 shares during the period. Truist Financial Corp raised its stake in shares of FedEx by 1.3% during the first quarter. Truist Financial Corp now owns 111,459 shares of the shipping service provider’s stock valued at $25,467,000 after purchasing an additional 1,457 shares during the period. Nelson Van Denburg & Campbell Wealth Management Group LLC raised its stake in shares of FedEx by 5.0% during the first quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 2,202 shares of the shipping service provider’s stock valued at $503,000 after purchasing an additional 104 shares during the period. GW&K Investment Management LLC purchased a new stake in shares of FedEx during the first quarter valued at approximately $27,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of FedEx in the first quarter worth $405,000. 73.61% of the stock is owned by institutional investors and hedge funds.
FedEx Stock Performance
FDX stock opened at $261.09 on Friday. The company has a market capitalization of $65.64 billion, a P/E ratio of 15.92, a PEG ratio of 1.24 and a beta of 1.36. The company has a 50-day simple moving average of $260.70 and a 200 day simple moving average of $239.50. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $270.95. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.76.
FedEx Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Monday, October 2nd. Shareholders of record on Monday, September 11th will be given a $1.26 dividend. This represents a $5.04 annualized dividend and a yield of 1.93%. The ex-dividend date is Friday, September 8th. FedEx’s dividend payout ratio (DPR) is presently 30.73%.
Wall Street Analysts Forecast Growth
A number of analysts recently issued reports on the stock. Wells Fargo & Company lifted their price target on shares of FedEx from $270.00 to $280.00 and gave the stock an “equal weight” rating in a research note on Thursday. Robert W. Baird restated an “outperform” rating and issued a $300.00 price target on shares of FedEx in a research note on Thursday, September 14th. Sanford C. Bernstein lifted their price target on shares of FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. The Goldman Sachs Group lifted their price target on shares of FedEx from $269.00 to $278.00 in a research note on Wednesday, September 13th. Finally, Argus boosted their target price on shares of FedEx from $240.00 to $260.00 in a research note on Monday, June 26th. Eight investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $268.76.
View Our Latest Stock Report on FedEx
Insiders Place Their Bets
In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $238.61, for a total value of $2,577,226.61. Following the sale, the vice president now directly owns 3,196 shares in the company, valued at $762,597.56. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FedEx news, VP Jennifer L. Johnson sold 10,801 shares of the business’s stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $238.61, for a total transaction of $2,577,226.61. Following the sale, the vice president now owns 3,196 shares in the company, valued at approximately $762,597.56. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Robert B. Carter sold 19,270 shares of the business’s stock in a transaction dated Wednesday, June 28th. The stock was sold at an average price of $246.00, for a total value of $4,740,420.00. Following the sale, the executive vice president now owns 58,875 shares in the company, valued at approximately $14,483,250. The disclosure for this sale can be found here. Over the last three months, insiders have sold 35,816 shares of company stock worth $8,822,147. 8.73% of the stock is owned by corporate insiders.
FedEx Profile
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.
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