Vista Investment Partners LLC Makes New Investment in FedEx Corporation $FDX

Vista Investment Partners LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the 3rd quarter, Holdings Channel reports. The fund purchased 9,034 shares of the shipping service provider’s stock, valued at approximately $2,576,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. bought a new stake in shares of FedEx during the 2nd quarter valued at $6,508,103,000. Primecap Management Co. CA bought a new position in shares of FedEx in the 2nd quarter worth $2,554,138,000. Dimensional Fund Advisors LP grew its stake in shares of FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock worth $936,688,000 after purchasing an additional 52,963 shares during the period. Bank of New York Mellon Corp increased its holdings in FedEx by 6.3% in the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after purchasing an additional 125,950 shares during the last quarter. Finally, Boston Partners lifted its stake in FedEx by 2.9% in the fourth quarter. Boston Partners now owns 2,041,209 shares of the shipping service provider’s stock valued at $591,494,000 after buying an additional 57,281 shares during the period. 84.47% of the stock is owned by institutional investors.

FedEx Stock Up 0.0%

Shares of FedEx stock traded up $0.00 on Thursday, hitting $289.04. The company had a trading volume of 422,410 shares, compared to its average volume of 2,046,687. The stock has a 50-day moving average of $312.21 and a 200-day moving average of $337.07. 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 twelve month low of $179.69 and a twelve month high of $345.36. The firm has a market capitalization of $68.41 billion, a P/E ratio of 15.62, a P/E/G ratio of 1.54 and a beta of 1.28.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Research analysts predict that FedEx Corporation will post 17.55 earnings per share for the current year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, October 1st. Stockholders of record on Monday, September 14th were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio is currently 26.36%.

Analyst Ratings Changes

Several research firms have recently issued reports on FDX. Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Citigroup reissued a “cautious” rating on shares of FedEx in a research note on Wednesday. Citizens Jmp began coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price for the company. Truist Financial cut their target price on shares of FedEx from $365.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday. Finally, JPMorgan Chase & Co. decreased their price target on shares of FedEx from $400.00 to $399.00 and set an “overweight” rating for the company in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $354.64.

FedEx Company Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.