Red Cedar Investment Management LLC Purchases Shares of 3,670 FedEx Corporation $FDX

Red Cedar Investment Management LLC purchased a new position in FedEx Corporation (NYSE:FDX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 3,670 shares of the shipping service provider’s stock, valued at approximately $1,060,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Wealth Watch Advisors INC purchased a new position in shares of FedEx during the third quarter valued at about $28,000. Ameriflex Group Inc. lifted its position in shares of FedEx by 103.3% in the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after buying an additional 63 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in FedEx during the fourth quarter valued at approximately $29,000. Tucker Asset Management LLC bought a new position in FedEx during the fourth quarter valued at approximately $29,000. Finally, ORG Partners LLC grew its holdings in FedEx by 50.0% during the 4th quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock valued at $30,000 after buying an additional 35 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the sale, the executive vice president directly owned 19,403 shares of the company’s stock, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 48,104 shares of company stock worth $17,599,006 over the last 90 days. Insiders own 0.53% of the company’s stock.

FedEx Price Performance

NYSE:FDX opened at $331.79 on Wednesday. The firm has a market capitalization of $79.17 billion, a price-to-earnings ratio of 17.66, a PEG ratio of 1.50 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business has a 50 day simple moving average of $373.06 and a 200-day simple moving average of $341.80. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $341.14.

FedEx (NYSE:FDX) last released its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion for the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.51 EPS. Equities analysts forecast that FedEx Corporation will post 19.72 EPS for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is currently 30.87%.

Analysts Set New Price Targets

A number of analysts have issued reports on FDX shares. Seaport Research Partners began coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. Wells Fargo & Company raised shares of FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Stephens restated an “overweight” rating and issued a $435.00 price target on shares of FedEx in a research report on Tuesday, April 14th. Sanford C. Bernstein upped their price target on shares of FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a research note on Thursday, April 9th. Finally, Wall Street Zen upgraded shares of FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $372.41.

Trending Headlines about FedEx

Here are the key news stories impacting FedEx this week:

• Positive Sentiment: FedEx pilots ratified a new contract after nearly five years of negotiations, ending a major labor dispute and reducing operational risk for the company. Reuters: FedEx pilots ratify new wage deal, union says
• Positive Sentiment: The new pilot agreement includes roughly a 40% wage increase, which signals labor stability and could help FedEx avoid future service disruptions tied to bargaining uncertainty. Seeking Alpha: FedEx pilots ratify new contract, secure 40% pay hike
• Positive Sentiment: FedEx updated its annual dividend after the FedEx Freight spin-off, including a 5% increase in the annual dividend rate, reinforcing capital-return support for shareholders. Business Wire: FedEx Corp. Board Declares Quarterly Dividend
• Positive Sentiment: The company separately announced its quarterly dividend and a post-spin adjustment, which may be interpreted as a sign of management confidence in cash flow generation. Yahoo Finance: FedEx Updates Annual Dividend Following FedEx Freight Spin-Off
• Neutral Sentiment: FedEx also announced a new independent director and audit-oversight leadership, a governance update that is constructive but not likely a major near-term stock driver. TipRanks: FedEx Adds Independent Director to Lead Audit Oversight

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.