Czech National Bank Buys 2,119 Shares of FedEx Corporation $FDX

Czech National Bank lifted its stake in FedEx Corporation (NYSE:FDX) by 3.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 57,240 shares of the shipping service provider’s stock after buying an additional 2,119 shares during the period. Czech National Bank’s holdings in FedEx were worth $16,534,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Cullen Investment Group LTD. acquired a new stake in shares of FedEx during the 4th quarter worth approximately $203,000. Beacon Financial Strategies CORP acquired a new position in shares of FedEx in the fourth quarter valued at $43,000. Foster Group Inc. lifted its position in FedEx by 1.3% in the fourth quarter. Foster Group Inc. now owns 4,502 shares of the shipping service provider’s stock worth $1,300,000 after purchasing an additional 58 shares during the period. Evanson Asset Management LLC bought a new position in FedEx in the fourth quarter worth $239,000. Finally, DAVENPORT & Co LLC boosted its stake in FedEx by 0.3% during the fourth quarter. DAVENPORT & Co LLC now owns 258,142 shares of the shipping service provider’s stock worth $74,713,000 after buying an additional 771 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 2.2%

Shares of FDX stock opened at $349.83 on Friday. The company has a market capitalization of $83.47 billion, a P/E ratio of 18.62, a P/E/G ratio of 1.57 and a beta of 1.29. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $392.86. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The firm has a 50-day moving average price of $354.70 and a 200 day moving average price of $294.44.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, April 1st. Investors 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 dividend on an annualized basis and a yield of 1.7%. FedEx’s dividend payout ratio is 30.87%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on FDX shares. Truist Financial increased their price objective on shares of FedEx from $400.00 to $425.00 and gave the company a “buy” rating in a research note on Friday, March 20th. Zacks Research cut shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Wells Fargo & Company increased their price target on shares of FedEx from $430.00 to $450.00 and gave the stock an “overweight” rating in a research report on Friday, March 20th. Jefferies Financial Group raised their price target on shares of FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research note on Tuesday, March 3rd. Finally, Wall Street Zen downgraded FedEx from a “strong-buy” rating to a “buy” rating in a report on Saturday, March 14th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $393.85.

About FedEx

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.