Western Wealth Management LLC Increases Holdings in FedEx Corporation $FDX

Western Wealth Management LLC raised its holdings in shares of FedEx Corporation (NYSE:FDX) by 186.1% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,840 shares of the shipping service provider’s stock after purchasing an additional 3,148 shares during the period. Western Wealth Management LLC’s holdings in FedEx were worth $1,724,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Ferguson Wellman Capital Management Inc. grew its position in shares of FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after buying an additional 26 shares during the last quarter. OneAscent Financial Services LLC raised its holdings in shares of FedEx by 1.7% during the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after acquiring an additional 29 shares in the last quarter. Whipplewood Advisors LLC raised its holdings in shares of FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after acquiring an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted 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 worth $101,000 after acquiring an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC lifted its stake in FedEx by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 30 shares during the period. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.53% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FDX. HSBC cut their price target on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Citigroup started coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating for the company. Wall Street Zen raised shares of FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. TD Cowen reduced their price target on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Price Performance

Shares of FDX stock opened at $307.41 on Friday. The stock has a market cap of $72.73 billion, a price-to-earnings ratio of 16.61, a PEG ratio of 1.58 and a beta of 1.29. The business’s fifty day moving average is $328.67 and its 200 day moving average is $350.16. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (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%. Research analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

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.