FedEx Corporation $FDX Stock: SteelPeak Wealth LLC Increases Stake

SteelPeak Wealth LLC increased its stake in shares of FedEx Corporation (NYSE:FDX) by 203.1% during the third quarter, HoldingsChannel reports. The fund owned 19,370 shares of the shipping service provider’s stock after buying an additional 12,979 shares during the period. SteelPeak Wealth LLC’s holdings in FedEx were worth $5,545,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Ferguson Wellman Capital Management Inc. raised its holdings in shares of FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after purchasing an additional 26 shares during the last quarter. Whipplewood Advisors LLC raised its holdings in shares of FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after purchasing an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its stake in FedEx by 11.9% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after buying an additional 30 shares during the period. Avior Wealth Management LLC lifted its holdings in FedEx by 2.6% during the 2nd quarter. Avior Wealth Management LLC now owns 1,361 shares of the shipping service provider’s stock valued at $426,000 after purchasing an additional 34 shares during the last quarter. Finally, CLG LLC lifted its stake in shares of FedEx by 3.8% during the 1st quarter. CLG LLC now owns 952 shares of the shipping service provider’s stock worth $339,000 after buying an additional 35 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a report on Thursday. Citigroup reaffirmed a “cautious” rating on shares of FedEx in a report on Wednesday, October 7th. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Stifel Nicolaus cut their target price on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Finally, Jefferies Financial Group started coverage on FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $354.64.

FedEx Stock Performance

Shares of FDX opened at $293.51 on Friday. FedEx Corporation has a 12 month low of $187.62 and a 12 month high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm’s fifty day simple moving average is $309.44 and its two-hundred day simple moving average is $334.17. The stock has a market capitalization of $69.47 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.57 and a beta of 1.28.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, analysts predict that FedEx Corporation will post 18.27 EPS for the current year.

FedEx Announces Dividend

The business 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 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend was Monday, September 14th. FedEx’s dividend payout ratio is 26.36%.

FedEx Profile

FedEx Corporation (NYSE: FDX) 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, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.