44 Wealth Management LLC Raises Stock Holdings in FedEx Corporation $FDX

Key Points

• 44 Wealth Management LLC boosted its FedEx stake by 192.8% in the first quarter, adding 3,543 shares to bring its total to 5,381 shares worth about $1.9 million.
• FedEx reported quarterly EPS of $5.88 on revenue of $23.26 billion, while analysts expect the company to earn 17.6 EPS for the full year.
• Analyst sentiment remains mixed but constructive, with a Moderate Buy consensus and an average price target of $350.54; shares recently traded at $314.77, down 0.3%.

44 Wealth Management LLC boosted its stake in shares of FedEx Corporation (NYSE:FDX - Free Report) by 192.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,381 shares of the shipping service provider's stock after purchasing an additional 3,543 shares during the quarter. 44 Wealth Management LLC's holdings in FedEx were worth $1,917,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Brighton Jones LLC raised its stake in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock worth $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC increased its position in shares of FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock worth $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the second quarter worth $586,000. Quantbot Technologies LP purchased a new stake in shares of FedEx during the 2nd quarter valued at $186,000. Finally, Jump Financial LLC acquired a new stake in shares of FedEx in the 2nd quarter worth $456,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

FedEx Stock Down 0.3%

NYSE:FDX opened at $314.77 on Friday. The firm has a market capitalization of $74.47 billion, a P/E ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36. The company's fifty day moving average price is $335.98 and its 200-day moving average price is $350.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

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 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, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx's dividend payout ratio is 26.36%.

Analysts Set New Price Targets

Several research analysts recently issued reports on FDX shares. Evercore set a $165.00 target price on FedEx in a research report on Friday, June 26th. Wall Street Zen raised FedEx from a "buy" rating to a "strong-buy" rating in a report on Saturday, June 6th. Stifel Nicolaus dropped their price target on FedEx from $442.00 to $326.00 and set a "buy" rating on the stock in a research note on Wednesday, June 24th. Barclays cut their price objective on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Finally, Citigroup assumed coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an "outperform" rating for the company. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus 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 FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.53% of the company's stock.

FedEx 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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