Arrowstreet Capital Limited Partnership Has $327.68 Million Stock Holdings in FedEx Corporation $FDX

Key Points

• Arrowstreet Capital increased its FedEx stake slightly in Q1, holding about 919,987 shares valued at roughly $327.7 million.
• Wall Street sentiment on FedEx remains mixed but generally positive, with an average rating of “Moderate Buy” and an average price target of $350.54, though some analysts recently cut targets.
• FedEx reported Q1 earnings of $5.88 per share on $23.26 billion in revenue and also paid a $1.22 quarterly dividend, equal to a 1.6% yield.

Arrowstreet Capital Limited Partnership raised its stake in FedEx Corporation (NYSE:FDX - Free Report) by 0.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 919,987 shares of the shipping service provider's stock after acquiring an additional 5,936 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.39% of FedEx worth $327,681,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in shares of FedEx in the 1st quarter worth $25,000. Bayban bought a new stake in shares of FedEx in the first quarter worth about $26,000. EFG International AG acquired a new stake in shares of FedEx during the fourth quarter worth about $27,000. Wealth Watch Advisors INC bought a new position in shares of FedEx during the 3rd quarter valued at about $28,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx in the 4th quarter valued at approximately $29,000. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on FDX shares. BNP Paribas Exane lowered their target price on FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Argus increased their target price on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 6th. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They set a "buy" rating on the stock. Finally, 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. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, FedEx currently has an average rating of "Moderate Buy" and an average target price of $350.54.

FedEx Stock Performance

Shares of FedEx stock opened at $314.77 on Friday. The company has a 50 day moving average of $335.98 and a 200-day moving average of $350.05. The company has a market cap of $74.47 billion, a PE ratio of 17.01, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $345.36.

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 for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion during 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 announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx's payout ratio is currently 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, 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 SEC, which can be accessed through the SEC website. 0.53% of the stock is currently owned by corporate 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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