44 Wealth Management LLC Grows Stake in FedEx Corporation $FDX

44 Wealth Management LLC boosted its position in shares of FedEx Corporation (NYSE:FDX) by 192.8% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,381 shares of the shipping service provider’s stock after buying an additional 3,543 shares during the period. 44 Wealth Management LLC’s holdings in FedEx were worth $1,917,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in FedEx during the 4th quarter valued at about $859,085,000. Boston Partners purchased a new stake in shares of FedEx in the third quarter valued at approximately $468,195,000. AQR Capital Management LLC increased its holdings in shares of FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. Waddell & Associates LLC boosted its stake in FedEx by 164.0% during the fourth quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock worth $343,206,000 after buying an additional 738,122 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in FedEx by 3,211.5% in the 3rd quarter. Two Sigma Investments LP now owns 549,306 shares of the shipping service provider’s stock valued at $129,532,000 after buying an additional 532,718 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of FDX opened at $314.77 on Friday. The firm has a market capitalization of $74.47 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. The firm’s fifty day simple moving average is $335.98 and its 200-day simple moving average is $350.05. FedEx Corporation has a twelve month low of $172.88 and a twelve 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.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion during the quarter. Equities analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Wall Street Analyst Weigh In

Several analysts have recently commented on the stock. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a report on Wednesday, June 24th. Truist Financial lowered their price target on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Bank of America increased their target price on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global logistics and courier company headquartered in Memphis, Tennessee. Founded by Frederick W. Smith in 1971 and beginning operations in the early 1970s, the company pioneered overnight express shipping and has since expanded into a diversified portfolio of transportation, e-commerce and supply-chain services. FedEx operates an integrated air-and-ground network that moves parcels, freight and documents for businesses and consumers worldwide.

FedEx’s core operating segments include express parcel delivery via its FedEx Express division, domestic and residential parcel delivery through FedEx Ground, less-than-truckload (LTL) freight services, and logistics and supply-chain management solutions.