FedEx Corporation $FDX Shares Sold by Dayah Capital LLC

Dayah Capital LLC cut its holdings in shares of FedEx Corporation (NYSE:FDX) by 25.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 7,103 shares of the shipping service provider’s stock after selling 2,397 shares during the quarter. FedEx makes up approximately 1.0% of Dayah Capital LLC’s holdings, making the stock its 20th largest holding. Dayah Capital LLC’s holdings in FedEx were worth $2,530,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Hollencrest Capital Management bought a new stake in shares of FedEx in the first quarter worth $25,000. Bayban bought a new position in FedEx during the 1st quarter valued at $26,000. Cedar Mountain Advisors LLC boosted its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. EFG International AG acquired a new position in FedEx during the 4th quarter worth $27,000. Finally, Tucker Asset Management LLC acquired a new position in FedEx during the 4th quarter worth $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FDX has been the subject of several research analyst reports. Weiss Ratings downgraded shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday. Argus increased their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Stifel Nicolaus decreased their price target on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Truist Financial lowered their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a report on Thursday, June 25th. Finally, HSBC cut their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Trading Down 0.0%

NYSE:FDX opened at $308.57 on Friday. The firm has a market capitalization of $73.01 billion, a P/E ratio of 16.67, a P/E/G ratio of 1.59 and a beta of 1.29. The business has a 50 day simple moving average of $330.41 and a 200 day simple moving average of $350.46. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. Equities research analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.53% of the stock is owned by insiders.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.