Diversify Advisory Services LLC Takes $1.22 Million Position in FedEx Corporation $FDX

Key Points

• Diversify Advisory Services LLC acquired 3,926 FedEx shares worth approximately $1.22 million in the second quarter. Institutional investors collectively own 84.47% of FedEx.
• Analysts maintain a generally positive outlook, with FedEx receiving a consensus “Moderate Buy” rating and an average price target of $350.54.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. The company pays a quarterly dividend of $1.22, equivalent to an annualized yield of about 1.5%.

Diversify Advisory Services LLC purchased a new stake in FedEx Corporation (NYSE:FDX - Free Report) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,926 shares of the shipping service provider's stock, valued at approximately $1,220,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Hollencrest Capital Management purchased a new position in shares of FedEx during the first quarter valued at $25,000. Bayban purchased a new stake in FedEx in the first quarter worth about $26,000. EFG International AG purchased a new stake in FedEx in the fourth quarter worth about $27,000. Wealth Watch Advisors INC bought a new position in FedEx during the 3rd quarter worth about $28,000. Finally, Tucker Asset Management LLC purchased a new position in FedEx during the 4th quarter valued at about $29,000. Institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on FDX. Bank of America increased their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a research note on Wednesday, June 24th. Evercore set a $165.00 target price on FedEx in a report on Friday, June 26th. Wall Street Zen raised FedEx to a "hold" rating in a research report on Saturday, August 8th. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lowered FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. 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 assigned a Sell rating to the company's stock. According to MarketBeat.com, FedEx has an average rating of "Moderate Buy" and a consensus target price of $350.54.

FedEx Stock Performance

Shares of FDX stock opened at $328.07 on Thursday. The business's fifty day simple moving average is $319.53 and its 200-day simple moving average is $351.69. The company has a market cap of $77.65 billion, a PE ratio of 17.72, a PEG ratio of 1.69 and a beta of 1.30. 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 12-month low of $177.05 and a 12-month high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last posted its quarterly earnings data 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. Analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the company's stock in a transaction dated 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 transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.53% of the company's stock.

FedEx Profile

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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