Machina Capital S.A.S. Invests $882,000 in FedEx Corporation (NYSE:FDX)

Key Points

• Machina Capital S.A.S. invested approximately $882,000 in FedEx, acquiring 3,618 shares in the first quarter, according to the company's recent SEC filing.
• FedEx's stock recently traded at $243.28, with significant daily trading volume, and the company reported a net margin of 4.65% alongside revenues of $22.20 billion for the last quarter.
• The company increased its quarterly dividend to $1.45, resulting in a 2.38% dividend yield, reflecting a commitment to returning value to shareholders.

Machina Capital S.A.S. purchased a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,618 shares of the shipping service provider's stock, valued at approximately $882,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after purchasing an additional 207 shares during the period. Modern Wealth Management LLC increased its position in shares of FedEx by 4.4% during the fourth quarter. Modern Wealth Management LLC now owns 2,139 shares of the shipping service provider's stock worth $552,000 after acquiring an additional 91 shares during the last quarter. Financial Counselors Inc. increased its position in shares of FedEx by 1.9% during the fourth quarter. Financial Counselors Inc. now owns 3,872 shares of the shipping service provider's stock worth $1,089,000 after acquiring an additional 71 shares during the last quarter. United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund purchased a new stake in shares of FedEx during the fourth quarter worth about $506,000. Finally, Korea Investment CORP increased its holdings in FedEx by 27.9% in the fourth quarter. Korea Investment CORP now owns 164,433 shares of the shipping service provider's stock valued at $46,260,000 after buying an additional 35,914 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Price Performance

Shares of FedEx stock traded up $6.77 during trading on Friday, reaching $243.28. The company's stock had a trading volume of 1,811,699 shares, compared to its average volume of 1,994,019. The business has a 50 day moving average price of $227.02 and a 200-day moving average price of $237.07. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The company has a market capitalization of $57.39 billion, a P/E ratio of 14.41, a price-to-earnings-growth ratio of 1.23 and a beta of 1.35. FedEx Corporation has a 12-month low of $194.29 and a 12-month high of $308.53.

FedEx (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 EPS for the quarter, topping analysts' consensus estimates of $5.98 by $0.09. FedEx had a return on equity of 16.34% and a net margin of 4.65%. The company had revenue of $22.20 billion for the quarter, compared to the consensus estimate of $21.86 billion. During the same period in the previous year, the business earned $5.41 earnings per share. As a group, sell-side analysts anticipate that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were given a $1.45 dividend. This is an increase from FedEx's previous quarterly dividend of $1.38. This represents a $5.80 annualized dividend and a dividend yield of 2.38%. The ex-dividend date of this dividend was Monday, June 23rd. FedEx's dividend payout ratio is currently 34.36%.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on the company. Wells Fargo & Company upped their target price on FedEx from $220.00 to $235.00 and gave the company an "equal weight" rating in a report on Wednesday, June 25th. Cowen restated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. BNP Paribas Exane raised shares of FedEx from an "underperform" rating to an "outperform" rating and set a $270.00 target price on the stock in a research report on Thursday, July 3rd. Bank of America lowered their price target on FedEx from $270.00 to $245.00 and set a "buy" rating on the stock in a research report on Wednesday, June 25th. Finally, Citigroup increased their target price on shares of FedEx from $259.00 to $278.00 and gave the company a "buy" rating in a research note on Wednesday, July 9th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, nineteen have given a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $283.25.

Insider Activity at FedEx

In related news, Director Marvin R. Ellison sold 3,610 shares of the stock in a transaction dated Wednesday, July 9th. The stock was sold at an average price of $236.94, for a total value of $855,353.40. Following the completion of the transaction, the director owned 7,720 shares of the company's stock, valued at approximately $1,829,176.80. This represents a 31.86% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director R Brad Martin sold 2,123 shares of the stock in a transaction that occurred on Monday, July 7th. The stock was sold at an average price of $241.75, for a total value of $513,235.25. Following the transaction, the director directly owned 8,935 shares in the company, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 9,343 shares of company stock worth $2,228,816. 8.87% of the stock is currently owned by insiders.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.