Global Funds

Allspring Global Investments Holdings LLC Has $14.74 Million Stock Position in FedEx Co. (NYSE:FDX)

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Feb 5, 2023 • 4 min read

Allspring Global Investments Holdings LLC boosted its position in FedEx Co. (NYSE:FDX - Get Rating) by 28.4% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 99,288 shares of the shipping service provider's stock after purchasing an additional 21,946 shares during the period. Allspring Global Investments Holdings LLC's holdings in FedEx were worth $14,741,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Activest Wealth Management lifted its stake in FedEx by 121.6% in the 2nd quarter. Activest Wealth Management now owns 113 shares of the shipping service provider's stock valued at $26,000 after purchasing an additional 62 shares during the last quarter. Coston McIsaac & Partners acquired a new stake in FedEx in the 2nd quarter valued at about $30,000. American National Bank lifted its stake in FedEx by 206.7% in the 2nd quarter. American National Bank now owns 138 shares of the shipping service provider's stock valued at $31,000 after purchasing an additional 93 shares during the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new stake in FedEx in the 1st quarter valued at about $35,000. Finally, First PREMIER Bank lifted its stake in FedEx by 220.0% in the 2nd quarter. First PREMIER Bank now owns 160 shares of the shipping service provider's stock valued at $36,000 after purchasing an additional 110 shares during the last quarter. 72.02% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the subject of several research reports. Wells Fargo & Company raised their price objective on shares of FedEx from $160.00 to $185.00 and gave the stock an "equal weight" rating in a research report on Tuesday, December 13th. UBS Group set a $215.00 price objective on shares of FedEx in a research report on Tuesday, January 3rd. Credit Suisse Group set a $238.00 target price on shares of FedEx in a report on Wednesday. BMO Capital Markets lowered their target price on shares of FedEx from $215.00 to $190.00 and set a "market perform" rating on the stock in a report on Friday, September 23rd. Finally, Cowen lowered their target price on shares of FedEx from $230.00 to $185.00 and set an "outperform" rating on the stock in a report on Friday, September 23rd. Thirteen equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, FedEx currently has a consensus rating of "Hold" and an average price target of $205.52.

FedEx Stock Performance

NYSE FDX opened at $191.89 on Friday. The firm's fifty day moving average price is $175.03 and its two-hundred day moving average price is $190.03. The stock has a market cap of $48.43 billion, a PE ratio of 15.07, a PEG ratio of 1.14 and a beta of 1.31. FedEx Co. has a fifty-two week low of $141.92 and a fifty-two week high of $260.11. The company has a debt-to-equity ratio of 0.83, a quick ratio of 1.25 and a current ratio of 1.30.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, January 3rd. Stockholders of record on Monday, December 12th were issued a dividend of $1.15 per share. The ex-dividend date was Friday, December 9th. This represents a $4.60 dividend on an annualized basis and a dividend yield of 2.40%. FedEx's dividend payout ratio (DPR) is presently 36.14%.

Insider Transactions at FedEx

In other FedEx news, Director Amy B. Lane purchased 280 shares of the business's stock in a transaction dated Tuesday, January 3rd. The shares were bought at an average price of $175.83 per share, for a total transaction of $49,232.40. Following the completion of the acquisition, the director now owns 1,529 shares in the company, valued at $268,844.07. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 8.62% of the stock is owned by company insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.