FedEx Corporation $FDX Holdings Lifted by Vise Technologies Inc.

Vise Technologies Inc. raised its position in FedEx Corporation (NYSE:FDX) by 19.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,006 shares of the shipping service provider’s stock after purchasing an additional 2,485 shares during the period. Vise Technologies Inc.’s holdings in FedEx were worth $4,278,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Moss Adams Wealth Advisors LLC increased its holdings in FedEx by 13.8% in the third quarter. Moss Adams Wealth Advisors LLC now owns 1,917 shares of the shipping service provider’s stock valued at $549,000 after buying an additional 233 shares during the last quarter. Summit Global Investments acquired a new stake in FedEx in the third quarter valued at $367,000. MGO One Seven LLC lifted its holdings in FedEx by 3.8% during the 3rd quarter. MGO One Seven LLC now owns 8,269 shares of the shipping service provider’s stock worth $2,357,000 after buying an additional 299 shares during the last quarter. Avestar Capital LLC lifted its holdings in FedEx by 37.4% during the 3rd quarter. Avestar Capital LLC now owns 2,075 shares of the shipping service provider’s stock worth $593,000 after buying an additional 565 shares during the last quarter. Finally, State of Wyoming boosted its position in shares of FedEx by 83.6% during the 3rd quarter. State of Wyoming now owns 1,289 shares of the shipping service provider’s stock worth $367,000 after acquiring an additional 587 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Bank of America dropped their price objective on FedEx from $378.00 to $359.00 and set a “buy” rating on the stock in a report on Tuesday, October 27th. JPMorgan Chase & Co. boosted their target price on FedEx from $399.00 to $400.00 and gave the stock an “overweight” rating in a research note on Thursday, October 29th. Truist Financial lowered their price target on FedEx from $365.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, October 7th. Stephens raised FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, UBS Group reiterated a “hold” rating on shares of FedEx in a research note on Friday. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and an average price target of $359.16.

FedEx Price Performance

Shares of FDX opened at $318.03 on Wednesday. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. FedEx Corporation has a 1-year low of $200.20 and a 1-year high of $345.36. The stock has a market cap of $74.48 billion, a PE ratio of 19.56, a price-to-earnings-growth ratio of 1.28 and a beta of 1.27. The firm has a fifty day moving average price of $303.85 and a 200 day moving average price of $337.21.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.34 by $0.40. FedEx had a return on equity of 15.53% and a net margin of 4.09%. The company had revenue of $22.93 billion for the quarter, compared to analyst estimates of $22.73 billion. During the same quarter last year, the company posted $3.83 earnings per share. The business’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that FedEx Corporation will post 18.29 EPS for the current year.

FedEx Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is currently 30.01%.

Insider Activity at FedEx

In other FedEx news, EVP Tracy Brightman sold 26,611 shares of FedEx stock in a transaction that occurred on Friday, October 30th. The stock was sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at $3,877,746.60. The trade was a 68.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Gina Adams sold 3,014 shares of the business’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $317.06, for a total value of $955,618.84. Following the completion of the sale, the executive vice president owned 9,656 shares of the company’s stock, valued at approximately $3,061,531.36. This represents a 23.79% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.65% of the company’s stock.

About FedEx

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.