Sanders Morris Harris LLC Makes New Investment in FedEx Corporation $FDX

Sanders Morris Harris LLC bought a new stake in FedEx Corporation (NYSE:FDX) in the third quarter, HoldingsChannel.com reports. The fund bought 4,260 shares of the shipping service provider’s stock, valued at approximately $1,215,000.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. purchased a new stake in FedEx during the second quarter valued at $6,508,103,000. Primecap Management Co. CA purchased a new position in shares of FedEx in the 2nd quarter worth $2,554,138,000. Dimensional Fund Advisors LP grew its stake in shares of FedEx by 2.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,630,669 shares of the shipping service provider’s stock worth $936,688,000 after buying an additional 52,963 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of FedEx by 6.3% in the 1st quarter. Bank of New York Mellon Corp now owns 2,134,672 shares of the shipping service provider’s stock worth $760,328,000 after buying an additional 125,950 shares during the last quarter. Finally, Bank of America Corp DE bought a new stake in shares of FedEx in the 2nd quarter worth about $579,171,000. Institutional investors own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on FDX shares. Barclays decreased their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Evercore boosted their price objective on FedEx from $350.00 to $351.00 in a research note on Monday, September 28th. Truist Financial reduced their price objective on FedEx from $365.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, October 7th. BMO Capital Markets restated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Finally, BNP Paribas Exane raised their price objective on FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $354.64.

FedEx Trading Up 0.2%

FDX stock traded up $0.72 during mid-day trading on Wednesday, reaching $291.31. 1,120,294 shares of the stock traded hands, compared to its average volume of 2,029,934. FedEx Corporation has a one year low of $185.06 and a one year high of $345.36. The stock has a market capitalization of $68.94 billion, a PE ratio of 15.74, a PEG ratio of 1.56 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The business has a 50-day moving average price of $310.75 and a two-hundred day moving average price of $335.21.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. Equities research analysts expect that FedEx Corporation will post 17.53 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Shareholders 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 yield of 1.7%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

FedEx Profile

FedEx Corporation is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, and logistics services for businesses, government organizations and consumers.

The company’s services include domestic and international parcel delivery, less-than-truckload freight transportation, supply chain management, customs and trade assistance, warehousing, fulfillment and other logistics solutions.