NEOS Investment Management LLC Increases Holdings in FedEx Corporation $FDX

NEOS Investment Management LLC lifted its holdings in FedEx Corporation (NYSE:FDX) by 13.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 35,017 shares of the shipping service provider’s stock after acquiring an additional 4,020 shares during the period. NEOS Investment Management LLC’s holdings in FedEx were worth $10,965,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Orion Capital Management LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $47,000. Nykredit A S bought a new position in shares of FedEx during the 2nd quarter valued at approximately $17,044,000. Legacy Financial Advisors Inc. raised its holdings in FedEx by 3.5% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 2,693 shares of the shipping service provider’s stock valued at $843,000 after buying an additional 90 shares during the period. Proficio Capital Partners LLC purchased a new stake in FedEx during the 2nd quarter valued at $1,076,000. Finally, CMH Wealth Management LLC lifted its position in FedEx by 6.1% in the second quarter. CMH Wealth Management LLC now owns 4,394 shares of the shipping service provider’s stock worth $1,381,000 after buying an additional 253 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

FedEx Stock Down 0.7%

Shares of FDX opened at $322.11 on Friday. The firm has a fifty day moving average price of $319.36 and a 200-day moving average price of $349.10. 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 has a market capitalization of $76.23 billion, a P/E ratio of 17.40, a P/E/G ratio of 1.71 and a beta of 1.32. FedEx Corporation has a 12-month low of $177.65 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly 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 company had revenue of $23.26 billion for the quarter. Equities research analysts expect that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Analyst Ratings Changes

A number of research analysts have weighed in on FDX shares. Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research report on Wednesday, June 24th. HSBC lowered their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a report on Monday, June 1st. Stephens upgraded shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Truist Financial reduced their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Citigroup assumed coverage on shares of FedEx in a research note on Wednesday, July 15th. They issued an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

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.