3,337 Shares in FedEx Corporation $FDX Bought by Western Wealth Management LLC

Key Points

• Western Wealth Management bought 3,337 FedEx shares in the second quarter, valued at approximately $1.05 million. Institutional investors collectively own 84.47% of FedEx’s stock.
• Analysts maintain a generally positive view, with FedEx carrying a “Moderate Buy” consensus rating and an average price target of $350.54, although several firms recently lowered their targets.
• FedEx reported quarterly EPS of $5.88 on $23.26 billion in revenue and announced a quarterly dividend of $1.22 per share, representing an annualized yield of about 1.5%.

Western Wealth Management LLC acquired a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,337 shares of the shipping service provider's stock, valued at approximately $1,045,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new position in shares of FedEx during the first quarter worth approximately $25,000. Bayban purchased a new stake in FedEx in the 1st quarter valued at $26,000. Solstein Capital LLC acquired a new stake in FedEx during the 2nd quarter worth $27,000. EFG International AG acquired a new position in FedEx in the fourth quarter valued at $27,000. Finally, Wealth Watch Advisors INC acquired a new stake in shares of FedEx during the third quarter worth about $28,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FDX. Evercore set a $165.00 price target on FedEx in a research report on Friday, June 26th. BMO Capital Markets reiterated a "market perform" rating on shares of FedEx in a research note on Wednesday, June 24th. Stifel Nicolaus dropped their target price on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a report on Wednesday, June 24th. The Goldman Sachs Group cut their price target on FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a research note on Monday, June 1st. Finally, Wells Fargo & Company lowered their price objective 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat, FedEx currently has an average rating of "Moderate Buy" and an average target price of $350.54.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.65% of the company's stock.

FedEx Stock Performance

NYSE FDX opened at $333.54 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The business's 50 day moving average is $318.91 and its two-hundred day moving average is $351.31. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The stock has a market capitalization of $78.94 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. Research analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is 26.36%.

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.

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