Clearstead Advisors LLC Buys 709 Shares of FedEx Co. (NYSE:FDX)

Clearstead Advisors LLC raised its holdings in shares of FedEx Co. (NYSE:FDXFree Report) by 37.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,620 shares of the shipping service provider’s stock after acquiring an additional 709 shares during the quarter. Clearstead Advisors LLC’s holdings in FedEx were worth $694,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of FedEx by 11.0% in the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 133,075 shares of the shipping service provider’s stock worth $35,254,000 after purchasing an additional 13,197 shares during the period. Capital Group Investment Management PTE. LTD. increased its holdings in shares of FedEx by 29.3% in the second quarter. Capital Group Investment Management PTE. LTD. now owns 5,740 shares of the shipping service provider’s stock worth $1,423,000 after purchasing an additional 1,300 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its holdings in shares of FedEx by 2.3% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 595,122 shares of the shipping service provider’s stock worth $157,660,000 after purchasing an additional 13,642 shares during the period. Vishria Bird Financial Group LLC increased its holdings in shares of FedEx by 21.2% in the third quarter. Vishria Bird Financial Group LLC now owns 80,348 shares of the shipping service provider’s stock worth $21,286,000 after purchasing an additional 14,036 shares during the period. Finally, Machina Capital S.A.S. bought a new position in shares of FedEx in the third quarter worth $1,453,000. Institutional investors own 73.61% of the company’s stock.

FedEx Price Performance

Shares of NYSE FDX opened at $243.77 on Wednesday. FedEx Co. has a fifty-two week low of $184.39 and a fifty-two week high of $285.53. The company has a 50 day simple moving average of $255.99 and a two-hundred day simple moving average of $255.86. The company has a market capitalization of $60.92 billion, a price-to-earnings ratio of 14.44, a P/E/G ratio of 1.16 and a beta of 1.21. The company has a debt-to-equity ratio of 0.75, a quick ratio of 1.30 and a current ratio of 1.34.

FedEx (NYSE:FDXGet Free Report) last announced its earnings results on Tuesday, December 19th. The shipping service provider reported $3.99 earnings per share for the quarter, missing analysts’ consensus estimates of $4.14 by ($0.15). FedEx had a net margin of 4.87% and a return on equity of 16.47%. The business had revenue of $22.17 billion for the quarter, compared to the consensus estimate of $22.36 billion. During the same period in the prior year, the business posted $3.18 EPS. FedEx’s revenue for the quarter was down 2.8% on a year-over-year basis. Analysts expect that FedEx Co. will post 17.76 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, January 2nd. Stockholders of record on Monday, December 11th were issued a dividend of $1.26 per share. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date of this dividend was Friday, December 8th. FedEx’s payout ratio is 29.86%.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. Melius Research upgraded shares of FedEx from a “hold” rating to a “buy” rating and set a $310.00 target price for the company in a research report on Monday, January 8th. Barclays cut their target price on shares of FedEx from $330.00 to $310.00 and set an “overweight” rating for the company in a research report on Wednesday, December 20th. JPMorgan Chase & Co. cut their target price on shares of FedEx from $322.00 to $305.00 and set a “neutral” rating for the company in a research report on Wednesday, December 20th. TD Cowen upped their target price on shares of FedEx from $290.00 to $293.00 and gave the stock an “outperform” rating in a research report on Tuesday, December 12th. Finally, Stifel Nicolaus upped their target price on shares of FedEx from $282.00 to $305.00 and gave the stock a “buy” rating in a research report on Wednesday, January 10th. Six investment analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $289.93.

Check Out Our Latest Report on FDX

Insider Activity

In other news, EVP John W. Dietrich purchased 1,000 shares of the business’s stock in a transaction dated Thursday, December 28th. The shares were purchased at an average price of $252.02 per share, for a total transaction of $252,020.00. Following the completion of the acquisition, the executive vice president now directly owns 4,745 shares in the company, valued at approximately $1,195,834.90. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Amy B. Lane purchased 200 shares of the company’s stock in a transaction dated Tuesday, December 26th. The shares were purchased at an average cost of $253.22 per share, for a total transaction of $50,644.00. Following the purchase, the director now directly owns 3,304 shares in the company, valued at approximately $836,638.88. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP John W. Dietrich acquired 1,000 shares of FedEx stock in a transaction that occurred on Thursday, December 28th. The shares were purchased at an average price of $252.02 per share, with a total value of $252,020.00. Following the transaction, the executive vice president now owns 4,745 shares of the company’s stock, valued at approximately $1,195,834.90. The disclosure for this purchase can be found here. Corporate insiders own 8.73% of the company’s stock.

FedEx Profile

(Free Report)

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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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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