Murphy Middleton Hinkle & Parker Inc. Takes Position in FedEx Corporation $FDX

Murphy Middleton Hinkle & Parker Inc. bought a new stake in FedEx Corporation (NYSE:FDXFree Report) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,537 shares of the shipping service provider’s stock, valued at approximately $444,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC increased its position in shares of FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at about $586,000. Prudential PLC boosted its position in shares of FedEx by 51.5% in the 2nd quarter. Prudential PLC now owns 5,169 shares of the shipping service provider’s stock valued at $1,175,000 after purchasing an additional 1,756 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of FedEx in the 2nd quarter valued at about $743,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Trading Down 0.8%

Shares of FDX stock opened at $355.82 on Tuesday. The business’s 50 day moving average is $352.08 and its two-hundred day moving average is $292.68. FedEx Corporation has a twelve month low of $194.29 and a twelve month high of $392.86. The company has a market capitalization of $83.66 billion, a P/E ratio of 18.94, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDXGet Free Report) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $4.51 earnings per share. Equities analysts forecast that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, April 1st. Shareholders of record on Monday, March 9th will be given a dividend of $1.45 per share. The ex-dividend date is Monday, March 9th. This represents a $5.80 annualized dividend and a yield of 1.6%. FedEx’s payout ratio is presently 30.87%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Truist Financial lifted their price target on FedEx from $400.00 to $425.00 and gave the stock a “buy” rating in a research report on Friday. JPMorgan Chase & Co. increased their price objective on FedEx from $424.00 to $432.00 and gave the company a “neutral” rating in a report on Friday. Wells Fargo & Company raised their target price on shares of FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday. Wolfe Research lifted their target price on shares of FedEx from $355.00 to $394.00 and gave the company an “outperform” rating in a report on Tuesday, February 10th. Finally, Argus increased their price target on shares of FedEx from $250.00 to $350.00 and gave the stock a “buy” rating in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $393.85.

Get Our Latest Research Report on FDX

Key FedEx News

Here are the key news stories impacting FedEx this week:

About FedEx

(Free Report)

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.

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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