Coastal Bridge Advisors LLC Takes Position in FedEx Corporation $FDX

Coastal Bridge Advisors LLC bought a new position in FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 3,185 shares of the shipping service provider's stock, valued at approximately $997,000.

Several other institutional investors also recently modified their holdings of the business. Hollencrest Capital Management purchased a new position in FedEx during the 1st quarter valued at about $25,000. Bayban purchased a new stake in FedEx in the first quarter worth about $26,000. Solstein Capital LLC bought a new position in shares of FedEx during the second quarter valued at approximately $27,000. Cedar Mountain Advisors LLC increased its stake in shares of FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock valued at $33,000 after purchasing an additional 41 shares in the last quarter. Finally, EFG International AG purchased a new position in shares of FedEx during the fourth quarter valued at approximately $27,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Down 1.4%

Shares of NYSE FDX opened at $331.45 on Friday. The firm's 50 day moving average price is $319.23 and its 200-day moving average price is $350.85. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The company has a market cap of $78.44 billion, a PE ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share 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 during the quarter. On average, equities research analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio (DPR) is presently 26.36%.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the business's 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 completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 0.65% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Citigroup started coverage on FedEx in a research report on Wednesday, July 15th. They issued an "outperform" rating on the stock. Jefferies Financial Group initiated coverage on FedEx in a research report on Tuesday, June 23rd. They set a "buy" rating and a $200.00 price objective for the company. Raymond James Financial reiterated an "outperform" rating on shares of FedEx in a research note on Wednesday, August 19th. Stephens raised FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. Finally, HSBC cut their target price on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, FedEx presently has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

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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