FedEx Corporation $FDX Stock Purchased by Lido Advisors LLC

Lido Advisors LLC increased its stake in shares of FedEx Corporation (NYSE:FDX) by 9.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,595 shares of the shipping service provider’s stock after acquiring an additional 2,825 shares during the quarter. Lido Advisors LLC’s holdings in FedEx were worth $9,578,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also bought and sold shares of the company. BlackRock Inc. purchased a new stake in FedEx in the 2nd quarter worth approximately $6,508,103,000. Primecap Management Co. CA purchased a new position in shares of FedEx during the second quarter valued at approximately $2,554,138,000. Dimensional Fund Advisors LP increased its stake in shares of FedEx by 2.1% during the first quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock valued at $936,688,000 after buying an additional 52,963 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of FedEx by 6.3% during the first quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock valued at $760,328,000 after acquiring an additional 125,950 shares in the last quarter. Finally, Bank of America Corp DE bought a new position in shares of FedEx during the second quarter valued at approximately $579,171,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Price Performance

Shares of NYSE:FDX opened at $319.69 on Friday. The business has a fifty day moving average price of $302.52 and a 200-day moving average price of $337.64. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.33 and a quick ratio of 1.29. The company has a market capitalization of $74.87 billion, a PE ratio of 16.03, a PEG ratio of 1.30 and a beta of 1.27. FedEx Corporation has a 1-year low of $207.83 and a 1-year high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Wednesday, October 28th. The shipping service provider reported $3.74 earnings per share for the quarter, beating the consensus estimate of $3.34 by $0.40. FedEx had a net margin of 4.09% and a return on equity of 15.53%. The company had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. During the same quarter last year, the firm earned $3.83 earnings per share. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. As a group, equities analysts expect that FedEx Corporation will post 18.29 EPS for the current fiscal year.

FedEx Announces Dividend

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

Insider Transactions at FedEx

In other news, EVP Tracy Brightman sold 26,611 shares of FedEx stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $316.68, for a total value of $8,427,171.48. Following the completion of the sale, the executive vice president directly owned 12,245 shares in the company, valued at $3,877,746.60. The trade was a 68.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Claude Russ sold 16,762 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $316.11, for a total transaction of $5,298,635.82. Following the completion of the sale, the chief financial officer owned 4,387 shares in the company, valued at $1,386,774.57. This represents a 79.26% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 46,387 shares of company stock worth $14,681,426 over the last three months. 0.65% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. BNP Paribas Exane upped their price objective on shares of FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a report on Wednesday, September 30th. JPMorgan Chase & Co. raised their target price on shares of FedEx from $399.00 to $400.00 and gave the stock an “overweight” rating in a research report on Thursday, October 29th. Raymond James Financial set a $162.00 target price on shares of FedEx in a research report on Tuesday, November 3rd. Finally, Weiss Ratings lowered shares of FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research note on Thursday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $359.16.

About FedEx

FedEx Corporation is a global transportation and logistics company that provides delivery, freight, and supply chain services to businesses and consumers. Its offerings include express and ground package delivery, freight transportation, customs clearance, and logistics solutions that help customers manage shipping and distribution. Founded by Frederick W. Smith in 1971, FedEx began operations in 1973. The company serves customers throughout the United States and in international markets, connecting businesses and consumers through its transportation and delivery networks.