3,590 Shares in FedEx Corporation $FDX Acquired by OneDigital Investment Advisors LLC

Key Points

• OneDigital Investment Advisors acquired 3,590 FedEx shares worth approximately $1.124 million, while institutional investors collectively own 84.47% of the company.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share; shares opened at $331.86, near their 52-week high of $345.36.
• Analysts maintain a consensus “Moderate Buy” rating with an average price target of $350.54, although several firms recently downgraded the stock or reduced their price targets.

OneDigital Investment Advisors LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,590 shares of the shipping service provider's stock, valued at approximately $1,124,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. State Street Corp grew its position in FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock valued at $2,763,824,000 after acquiring an additional 382,848 shares in the last quarter. Franklin Resources Inc. lifted its position in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock worth $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider's stock valued at $1,443,666,000 after purchasing an additional 45,818 shares during the period. Invesco Ltd. boosted its stake in shares of FedEx by 3.1% in the third quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider's stock valued at $853,372,000 after purchasing an additional 108,426 shares during the period. Finally, Norges Bank acquired a new position in shares of FedEx in the fourth quarter valued at approximately $859,085,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.8%

Shares of FedEx stock opened at $331.86 on Tuesday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The company has a market capitalization of $78.51 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 1.30. The company has a 50 day moving average of $319.43 and a 200 day moving average of $351.54.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. As a group, research analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx's dividend payout ratio (DPR) is currently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company's stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

FDX has been the topic of several recent research reports. Weiss Ratings downgraded shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Wednesday, July 29th. Seaport Research Partners assumed coverage on shares of FedEx in a research note on Wednesday, May 27th. They issued a "buy" rating for the company. TD Cowen cut their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut FedEx from a "buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Finally, Barclays decreased their target price on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $350.54.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source