Golden State Wealth Management LLC Boosts Holdings in FedEx Corporation (NYSE:FDX)

Golden State Wealth Management LLC boosted its position in FedEx Corporation (NYSE:FDX) by 21.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 362 shares of the shipping service provider’s stock after purchasing an additional 63 shares during the quarter. Golden State Wealth Management LLC’s holdings in FedEx were worth $88,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. Regal Investment Advisors LLC increased its holdings in shares of FedEx by 2.4% during the 4th quarter. Regal Investment Advisors LLC now owns 1,604 shares of the shipping service provider’s stock valued at $451,000 after purchasing an additional 38 shares in the last quarter. Aviso Financial Inc. increased its holdings in shares of FedEx by 1.2% during the 4th quarter. Aviso Financial Inc. now owns 3,400 shares of the shipping service provider’s stock valued at $957,000 after purchasing an additional 40 shares in the last quarter. Garner Asset Management Corp increased its holdings in shares of FedEx by 0.7% during the 4th quarter. Garner Asset Management Corp now owns 5,897 shares of the shipping service provider’s stock valued at $1,659,000 after purchasing an additional 41 shares in the last quarter. Curi RMB Capital LLC increased its holdings in shares of FedEx by 1.3% during the 4th quarter. Curi RMB Capital LLC now owns 3,615 shares of the shipping service provider’s stock valued at $1,017,000 after purchasing an additional 47 shares in the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of FedEx by 1.9% during the 4th quarter. Quadrant Capital Group LLC now owns 2,664 shares of the shipping service provider’s stock valued at $749,000 after purchasing an additional 50 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on FDX shares. JPMorgan Chase & Co. lifted their target price on shares of FedEx from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. UBS Group cut their target price on shares of FedEx from $311.00 to $297.00 and set a “buy” rating for the company in a report on Wednesday, June 25th. Stephens reissued an “overweight” rating and issued a $300.00 price target on shares of FedEx in a report on Tuesday, May 20th. BMO Capital Markets cut their price target on shares of FedEx from $275.00 to $260.00 and set a “market perform” rating for the company in a report on Monday, May 19th. Finally, Cfra Research raised shares of FedEx to a “hold” rating in a report on Thursday, March 20th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $282.46.

FedEx Stock Up 0.7%

Shares of NYSE:FDX opened at $240.88 on Monday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.19 and a quick ratio of 1.15. The firm has a market capitalization of $57.71 billion, a PE ratio of 14.27, a price-to-earnings-growth ratio of 1.26 and a beta of 1.35. The firm’s 50-day moving average is $222.83 and its two-hundred day moving average is $240.93. FedEx Corporation has a 1 year low of $194.30 and a 1 year high of $313.84.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share for the quarter, topping analysts’ consensus estimates of $5.98 by $0.09. FedEx had a net margin of 4.65% and a return on equity of 16.34%. The firm had revenue of $22.20 billion for the quarter, compared to analyst estimates of $21.86 billion. During the same period in the prior year, the firm earned $5.41 earnings per share. Analysts predict that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 8th. Investors of record on Monday, June 23rd will be paid a dividend of $1.45 per share. This represents a $5.80 dividend on an annualized basis and a dividend yield of 2.41%. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date is Monday, June 23rd. FedEx’s dividend payout ratio is presently 34.36%.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.