FedEx Corporation (NYSE:FDX) Shares Acquired by Victory Capital Management Inc.

Victory Capital Management Inc. boosted its position in shares of FedEx Corporation (NYSE:FDX) by 37.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 345,715 shares of the shipping service provider’s stock after acquiring an additional 94,637 shares during the period. Victory Capital Management Inc.’s holdings in FedEx were worth $84,278,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the company. Transce3nd LLC bought a new position in FedEx during the fourth quarter valued at $26,000. Pilgrim Partners Asia Pte Ltd purchased a new stake in FedEx in the 4th quarter worth $28,000. Runnymede Capital Advisors Inc. purchased a new stake in FedEx in the 4th quarter worth about $32,000. Accredited Wealth Management LLC purchased a new position in FedEx in the fourth quarter worth $35,000. Finally, Optiver Holding B.V. acquired a new position in shares of FedEx in the fourth quarter worth about $39,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on FDX. Wells Fargo & Company raised their target price on shares of FedEx from $220.00 to $235.00 and gave the stock an “equal weight” rating in a research note on Wednesday, June 25th. BNP Paribas Exane upgraded FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research note on Thursday, July 3rd. JPMorgan Chase & Co. boosted their target price on FedEx from $260.00 to $290.00 and gave the company an “overweight” rating in a research report on Wednesday, June 25th. Susquehanna lifted their price target on shares of FedEx from $290.00 to $295.00 and gave the stock a “positive” rating in a research note on Wednesday, June 25th. Finally, Citigroup raised their price target on shares of FedEx from $259.00 to $278.00 and gave the stock a “buy” rating in a research report on Wednesday, July 9th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus target price of $283.25.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 3,610 shares of the company’s stock in a transaction that occurred 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 transaction, the director owned 15,513 shares in the company, valued at approximately $3,696,592.77. This represents a 18.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director R Brad Martin sold 2,123 shares of the firm’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares in the company, valued at $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 8.87% of the company’s stock.

FedEx Stock Down 0.1%

Shares of FDX opened at $228.54 on Friday. FedEx Corporation has a 52-week low of $194.30 and a 52-week high of $313.16. The company has a market cap of $54.76 billion, a PE ratio of 13.54, a P/E/G ratio of 1.20 and a beta of 1.35. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The business has a fifty day moving average of $226.46 and a 200 day moving average of $238.85.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, beating the consensus estimate of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The business had revenue of $22.20 billion during the quarter, compared to analysts’ expectations of $21.86 billion. During the same period last year, the firm earned $5.41 EPS. On average, sell-side analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Investors of record on Monday, June 23rd were given a $1.45 dividend. This represents a $5.80 annualized dividend and a yield of 2.54%. The ex-dividend date was Monday, June 23rd. This is a boost from FedEx’s previous quarterly dividend of $1.38. FedEx’s payout ratio is 34.36%.

FedEx Company 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.