Allworth Financial LP bought a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 13,244 shares of the shipping service provider's stock, valued at approximately $4,147,000.
Several other institutional investors also recently bought and sold shares of the business. Hollencrest Capital Management acquired a new position in FedEx during the 1st quarter worth $25,000. Bayban bought a new stake in FedEx during the 1st quarter valued at $26,000. EFG International AG acquired a new stake in FedEx in the fourth quarter worth about $27,000. Wealth Watch Advisors INC acquired a new stake in shares of FedEx in the 3rd quarter worth approximately $28,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.
Insider Transactions at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on 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 transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is owned by insiders.
FedEx Stock Down 0.7%
Shares of FDX stock opened at $326.15 on Friday. The firm has a fifty day moving average of $319.29 and a 200-day moving average of $351.72. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The company has a market capitalization of $77.19 billion, a price-to-earnings ratio of 17.62, a P/E/G ratio of 1.69 and a beta of 1.30. 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 (NYSE:FDX - Get Free Report) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.
FedEx Cuts Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is presently 26.36%.
Wall Street Analyst Weigh In
Several research analysts have commented on the stock. Wells Fargo & Company decreased their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a report on Wednesday, June 17th. Rothschild & Co Redburn cut their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a research note on Tuesday, June 2nd. Citizens Jmp started coverage on shares of FedEx in a report on Wednesday, July 15th. They set a "market outperform" rating and a $375.00 price target for the company. BNP Paribas Exane lowered their price objective on shares of FedEx from $335.00 to $269.76 and set a "neutral" rating on the stock in a research note on Tuesday, June 2nd. Finally, Stephens raised FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and a consensus price target of $350.54.
View Our Latest Analysis on FDX
FedEx Company Profile
(
Free Report)
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.
Further Reading
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