FedEx Corporation (NYSE:FDX) Shares Sold by Zullo Investment Group Inc.

Zullo Investment Group Inc. cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 5.1% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,279 shares of the shipping service provider’s stock after selling 334 shares during the period. Zullo Investment Group Inc.’s holdings in FedEx were worth $1,531,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 207 shares in the last quarter. Sequoia Financial Advisors LLC raised its position in FedEx by 5.2% during the fourth quarter. Sequoia Financial Advisors LLC now owns 9,731 shares of the shipping service provider’s stock worth $2,738,000 after acquiring an additional 478 shares during the period. Farther Finance Advisors LLC lifted its holdings in FedEx by 4.4% during the fourth quarter. Farther Finance Advisors LLC now owns 1,742 shares of the shipping service provider’s stock valued at $490,000 after purchasing an additional 73 shares in the last quarter. Avantax Advisory Services Inc. increased its stake in shares of FedEx by 1.1% during the fourth quarter. Avantax Advisory Services Inc. now owns 14,835 shares of the shipping service provider’s stock worth $4,174,000 after purchasing an additional 166 shares in the last quarter. Finally, Skandinaviska Enskilda Banken AB publ increased its stake in shares of FedEx by 1.1% during the fourth quarter. Skandinaviska Enskilda Banken AB publ now owns 47,751 shares of the shipping service provider’s stock worth $13,397,000 after purchasing an additional 504 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Citigroup lifted their price objective on FedEx from $259.00 to $278.00 and gave the stock a “buy” rating in a report on Wednesday. Stifel Nicolaus set a $315.00 price target on FedEx in a research note on Wednesday, June 25th. Oppenheimer reissued a “market perform” rating on shares of FedEx in a research note on Friday, March 21st. Truist Financial reaffirmed a “buy” rating and set a $275.00 target price on shares of FedEx in a report on Wednesday, June 25th. Finally, BNP Paribas Exane upgraded shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 target price for the company in a research report on Thursday, July 3rd. Two analysts have rated the stock with a sell rating, ten have given a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $283.25.

Insider Transactions at FedEx

In other FedEx news, Director R Brad Martin sold 2,123 shares of the business’s stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the sale, the director owned 8,935 shares of the company’s stock, valued at $2,160,036.25. The trade was a 19.20% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Paul S. Walsh sold 3,610 shares of the business’s stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $238.29, for a total value of $860,226.90. Following the completion of the sale, the director owned 15,513 shares in the company, valued at $3,696,592.77. This represents a 18.88% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is currently owned by insiders.

FedEx Trading Down 1.1%

Shares of FedEx stock opened at $236.05 on Friday. FedEx Corporation has a fifty-two week low of $194.30 and a fifty-two week high of $313.84. The company has a debt-to-equity ratio of 0.68, a quick ratio of 1.15 and a current ratio of 1.19. The firm has a market capitalization of $56.56 billion, a price-to-earnings ratio of 13.98, a PEG ratio of 1.23 and a beta of 1.35. The stock has a 50 day moving average of $225.31 and a 200 day moving average of $239.93.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period in the prior year, the business posted $5.41 EPS. As a group, research analysts predict that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a $1.45 dividend. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.46%. This is an increase from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. FedEx’s payout ratio is 34.36%.

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.