Compass Wealth Management LLC Takes $3.44 Million Position in FedEx Corporation $FDX

Key Points

• Compass Wealth Management purchased 10,970 FedEx shares during the second quarter, establishing a position valued at approximately $3.44 million. Institutional investors collectively own 84.47% of FedEx’s outstanding stock.
• Analyst sentiment remains positive but cautious: FedEx has a consensus “Moderate Buy” rating and a $350.54 average price target, although several firms recently reduced their targets.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue. Its shares opened at $328.43, while the company’s quarterly dividend equates to $4.88 annually and a 1.5% yield.

Compass Wealth Management LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 10,970 shares of the shipping service provider's stock, valued at approximately $3,435,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC increased its holdings in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider's stock valued at $514,000 after acquiring an additional 207 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider's stock valued at $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx during the 2nd quarter worth approximately $456,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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 transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the company. Weiss Ratings downgraded FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, July 29th. Barclays dropped their price target on FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, June 17th. TD Cowen cut their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They issued a "buy" rating on the stock. Finally, Truist Financial decreased their price objective on FedEx from $425.00 to $365.00 and set a "buy" rating on the stock in a research note on Thursday, June 25th. 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 assigned a Sell rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Price Performance

Shares of NYSE:FDX opened at $328.43 on Wednesday. The company has a market cap of $77.70 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.72 and a beta of 1.30. The business has a fifty day simple moving average of $319.36 and a 200-day simple moving average of $351.63. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. 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 for the quarter. The firm 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%. Equities research analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently declared 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. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx's dividend payout ratio is 26.36%.

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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