Legacy Wealth Asset Management LLC boosted its stake in FedEx Corporation (NYSE:FDX – Free Report) by 2.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,550 shares of the shipping service provider’s stock after purchasing an additional 56 shares during the period. Legacy Wealth Asset Management LLC’s holdings in FedEx were worth $580,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Abound Financial LLC purchased a new position in shares of FedEx in the first quarter worth $38,000. WPG Advisers LLC purchased a new stake in FedEx during the 1st quarter valued at $43,000. Cary Street Partners Investment Advisory LLC grew its holdings in FedEx by 60.7% in the 1st quarter. Cary Street Partners Investment Advisory LLC now owns 188 shares of the shipping service provider’s stock worth $46,000 after acquiring an additional 71 shares during the last quarter. Alpine Bank Wealth Management bought a new stake in FedEx in the 1st quarter worth $65,000. Finally, Motco increased its position in shares of FedEx by 61.8% in the first quarter. Motco now owns 267 shares of the shipping service provider’s stock valued at $65,000 after acquiring an additional 102 shares during the period. Institutional investors own 84.47% of the company’s stock.
FedEx Stock Performance
Shares of FedEx stock opened at $242.80 on Wednesday. FedEx Corporation has a 12 month low of $194.29 and a 12 month high of $308.53. The firm has a market capitalization of $57.29 billion, a P/E ratio of 14.17, a P/E/G ratio of 1.34 and a beta of 1.28. The company has a current ratio of 1.25, a quick ratio of 1.21 and a debt-to-equity ratio of 0.73. The business has a fifty day simple moving average of $232.46 and a two-hundred day simple moving average of $225.87.
FedEx Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, October 1st. Shareholders of record on Monday, September 8th were paid a dividend of $1.45 per share. The ex-dividend date of this dividend was Monday, September 8th. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.4%. FedEx’s dividend payout ratio (DPR) is currently 33.86%.
Wall Street Analysts Forecast Growth
A number of research analysts have commented on FDX shares. The Goldman Sachs Group lowered their price target on FedEx from $290.00 to $276.00 and set a “buy” rating for the company in a research report on Friday, September 12th. Dbs Bank upgraded FedEx from a “hold” rating to a “moderate buy” rating in a report on Thursday, August 21st. Citigroup raised their price target on FedEx from $275.00 to $279.00 and gave the stock a “buy” rating in a research note on Friday, September 19th. BNP Paribas Exane upgraded shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price target on the stock in a report on Thursday, July 3rd. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of FedEx in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Strong Buy rating, fifteen have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $271.83.
Check Out Our Latest Report on FedEx
About FedEx
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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