Western Wealth Management LLC Acquires 3,148 Shares of FedEx Corporation $FDX

Western Wealth Management LLC boosted its holdings in shares of FedEx Corporation (NYSE:FDX) by 186.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,840 shares of the shipping service provider’s stock after buying an additional 3,148 shares during the quarter. Western Wealth Management LLC’s holdings in FedEx were worth $1,617,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of the business. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter valued at $25,000. Bayban bought a new position in shares of FedEx in the 1st quarter worth $26,000. Cedar Mountain Advisors LLC raised its position in shares of FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after acquiring an additional 41 shares in the last quarter. EFG International AG purchased a new stake in shares of FedEx during the 4th quarter worth $27,000. Finally, Tucker Asset Management LLC bought a new stake in FedEx during the fourth quarter valued at about $29,000. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents 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 0.53% of the company’s stock.

FedEx Trading Down 0.4%

NYSE:FDX opened at $307.41 on Friday. The company has a market capitalization of $72.73 billion, a P/E ratio of 16.61, a PEG ratio of 1.58 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The firm has a fifty day simple moving average of $328.67 and a 200-day simple moving average of $350.16.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, equities research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

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

Analyst Ratings Changes

FDX has been the topic of several analyst reports. Truist Financial cut their target price on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Weiss Ratings cut shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday. Bank of America lifted their price objective on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research report on Wednesday, June 24th. Finally, Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Company 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.