Alliance Private Wealth LLC Has $830,000 Stock Position in FedEx Corporation $FDX

Key Points

• Alliance Private Wealth LLC cut its FedEx stake by 55.6% in the second quarter, selling 3,312 shares and retaining 2,650 shares valued at approximately $830,000.
• Institutional investors and hedge funds collectively own 84.47% of FedEx, with several firms—including Fulton Bank, Focus Financial Network and Sax Wealth Advisors—adding to their positions during the quarter.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $350.54. FedEx reported quarterly revenue of $23.26 billion and EPS of $5.88, while its shares recently traded at $324.52 and paid a $1.22 quarterly dividend.

Alliance Private Wealth LLC reduced its stake in FedEx Corporation (NYSE:FDX - Free Report) by 55.6% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,650 shares of the shipping service provider's stock after selling 3,312 shares during the quarter. Alliance Private Wealth LLC's holdings in FedEx were worth $830,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FDX. Fulton Bank N.A. increased its stake in shares of FedEx by 10.7% during the second quarter. Fulton Bank N.A. now owns 6,770 shares of the shipping service provider's stock worth $2,120,000 after purchasing an additional 656 shares during the period. Focus Financial Network Inc. boosted its position in shares of FedEx by 4.7% in the second quarter. Focus Financial Network Inc. now owns 2,036 shares of the shipping service provider's stock valued at $640,000 after acquiring an additional 92 shares during the period. Sax Wealth Advisors LLC grew its stake in shares of FedEx by 17.0% in the second quarter. Sax Wealth Advisors LLC now owns 1,369 shares of the shipping service provider's stock valued at $429,000 after acquiring an additional 199 shares in the last quarter. Hennion & Walsh Asset Management Inc. increased its position in FedEx by 3.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 5,144 shares of the shipping service provider's stock worth $1,611,000 after acquiring an additional 189 shares during the period. Finally, Valeo Financial Advisors LLC increased its position in FedEx by 0.4% during the second quarter. Valeo Financial Advisors LLC now owns 12,393 shares of the shipping service provider's stock worth $3,880,000 after acquiring an additional 52 shares during the period. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FDX has been the subject of a number of recent research reports. Bank of America boosted their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a "buy" rating to a "hold" rating in a report on Wednesday, May 27th. The Goldman Sachs Group dropped their price target on shares of FedEx from $405.00 to $375.00 and set a "buy" rating for the company in a research report on Monday, June 1st. BNP Paribas Exane cut their price target on FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Finally, UBS Group reduced their price target on FedEx from $445.00 to $350.00 and set a "buy" rating on the stock in a research report on Wednesday, June 24th. 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 data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Stock Performance

Shares of FedEx stock opened at $324.52 on Tuesday. The company has a 50 day moving average of $319.20 and a 200-day moving average of $350.71. FedEx Corporation has a 1-year low of $176.00 and a 1-year high of $345.36. 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 company has a market cap of $76.78 billion, a PE ratio of 17.53, a price-to-earnings-growth ratio of 1.64 and a beta of 1.30.

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

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is currently 26.36%.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the firm's stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company's stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.53% of the stock is owned by company insiders.

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.

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