FedEx Corporation $FDX Shares Acquired by First Trust Advisors LP

Key Points

• First Trust Advisors LP boosted its FedEx position by 150.2% in the first quarter, ending with 368,383 shares valued at about $131.2 million.
• Wall Street remains generally positive on FedEx, with a consensus rating of “Moderate Buy” and an average price target of $350.54, even though some firms have recently trimmed targets or issued more cautious ratings.
• FedEx reported quarterly EPS of $5.88 on revenue of $22.19 billion, while the stock was trading at $315.93 and had recently paid a quarterly dividend of $1.22 per share.

First Trust Advisors LP lifted its position in FedEx Corporation (NYSE:FDX - Free Report) by 150.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 368,383 shares of the shipping service provider's stock after buying an additional 221,136 shares during the quarter. First Trust Advisors LP owned approximately 0.15% of FedEx worth $131,210,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Sivia Capital Partners LLC purchased a new stake in FedEx in the second quarter worth approximately $586,000. CWM LLC raised its stake in FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider's stock valued at $31,206,000 after buying an additional 26,322 shares during the last quarter. Canada Post Corp Registered Pension Plan raised its stake in FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider's stock valued at $1,962,000 after buying an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider's stock valued at $12,081,000 after buying an additional 6,864 shares during the period. Finally, North Dakota State Investment Board purchased a new position in shares of FedEx in the 4th quarter worth $2,122,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on FDX shares. Bank of America increased their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a "buy" rating in a research report on Wednesday, June 24th. Wolfe Research dropped their target price on shares of FedEx from $427.00 to $423.00 and set an "outperform" rating for the company in a report on Tuesday, April 7th. Stephens raised shares of FedEx to a "strong-buy" rating in a report on Wednesday, July 8th. HSBC reduced their target price on FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. Finally, BNP Paribas Exane decreased their price target 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. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, FedEx has a consensus rating of "Moderate Buy" and an average target price of $350.54.

FedEx Stock Down 1.6%

Shares of FedEx stock opened at $315.93 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a market cap of $74.74 billion, a P/E ratio of 17.07, a PEG ratio of 1.65 and a beta of 1.29. FedEx Corporation has a 52-week low of $172.88 and a 52-week high of $345.36. The firm's 50 day moving average price is $337.21 and its 200-day moving average price is $350.30.

FedEx (NYSE:FDX - Get Free Report) last announced 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 $22.19 billion for the quarter. On average, sell-side analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx's payout ratio is currently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm's 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 completion of the transaction, the director owned 16,359 shares of the company's stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

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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