DMKC Advisory Services LLC Purchases 118 Shares of FedEx Corporation (NYSE:FDX)

DMKC Advisory Services LLC boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 1.6% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,283 shares of the shipping service provider’s stock after purchasing an additional 118 shares during the period. DMKC Advisory Services LLC’s holdings in FedEx were worth $1,775,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Regal Investment Advisors LLC grew its position in shares of FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after acquiring an additional 38 shares during the period. Aviso Financial Inc. grew its stake in shares of FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after acquiring an additional 40 shares during the period. Garner Asset Management Corp raised its stake in FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock worth $1,659,000 after acquiring an additional 41 shares during the period. Curi RMB Capital LLC boosted its position in shares of FedEx by 1.3% in the fourth quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock worth $1,017,000 after purchasing an additional 47 shares during the period. Finally, Quadrant Capital Group LLC increased its stake in shares of FedEx by 1.9% in the fourth quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider’s stock worth $749,000 after purchasing an additional 50 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Insider Transactions at FedEx

In other FedEx news, COO John Alan Smith sold 6,155 shares of FedEx stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $243.55, for a total value of $1,499,050.25. Following the transaction, the chief operating officer now owns 23,347 shares in the company, valued at $5,686,161.85. The trade was a 20.86% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 8.87% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Jefferies Financial Group upgraded FedEx from a “hold” rating to a “buy” rating and lowered their price objective for the company from $300.00 to $275.00 in a research report on Monday, March 24th. Barclays lowered their price target on FedEx from $350.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, June 3rd. Deutsche Bank Aktiengesellschaft began coverage on shares of FedEx in a report on Friday, March 7th. They set a “buy” rating and a $337.00 price objective for the company. Truist Financial lowered their target price on shares of FedEx from $305.00 to $275.00 and set a “buy” rating on the stock in a report on Thursday, April 24th. Finally, Raymond James Financial dropped their target price on shares of FedEx from $320.00 to $290.00 and set an “outperform” rating for the company in a research report on Friday, March 21st. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $292.54.

FedEx Trading Up 0.2%

Shares of FDX opened at $223.07 on Friday. The firm has a market capitalization of $53.45 billion, a price-to-earnings ratio of 13.99, a PEG ratio of 1.07 and a beta of 1.35. The company has a 50-day moving average of $217.93 and a 200 day moving average of $245.22. FedEx Corporation has a 1-year low of $194.30 and a 1-year high of $313.84. The company has a debt-to-equity ratio of 0.73, a current ratio of 1.24 and a quick ratio of 1.19.

FedEx (NYSE:FDX) last issued its earnings results on Thursday, March 20th. The shipping service provider reported $4.51 earnings per share for the quarter, missing the consensus estimate of $4.56 by ($0.05). The firm had revenue of $22.16 billion during the quarter, compared to analysts’ expectations of $21.96 billion. FedEx had a return on equity of 16.00% and a net margin of 4.46%. FedEx’s quarterly revenue was up 1.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.86 earnings per share. On average, research analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.60%. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx’s dividend payout ratio (DPR) is presently 34.63%.

FedEx 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.