Flputnam Investment Management Co. Purchases New Position in FedEx Corporation $FDX

Key Points

• Flputnam Investment Management initiated a FedEx position during the second quarter, purchasing 5,562 shares valued at approximately $1.74 million. Institutional investors and hedge funds collectively own 84.47% of FedEx.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. Analysts expect approximately $17.60 in full-year EPS.
• Analysts maintain a broadly positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $350.54, compared with the reported share price of $331.86.

Flputnam Investment Management Co. bought a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 5,562 shares of the shipping service provider's stock, valued at approximately $1,742,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FDX. Sivia Capital Partners LLC acquired a new stake in shares of FedEx during the second quarter worth $586,000. Canada Post Corp Registered Pension Plan grew its position in FedEx by 85.9% in 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. increased its stake in FedEx by 19.6% in 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. North Dakota State Investment Board purchased a new position in FedEx during the 4th quarter worth $2,122,000. Finally, OMERS ADMINISTRATION Corp raised its position in FedEx by 104.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider's stock worth $6,169,000 after buying an additional 8,868 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Price Performance

Shares of NYSE:FDX opened at $331.86 on Tuesday. 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 business's fifty day moving average price is $319.43 and its two-hundred day moving average price is $351.54. The stock has a market cap of $78.51 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX - Get Free Report) last released its quarterly 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 company had revenue of $23.26 billion during the quarter. On average, analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently disclosed 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 of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio is currently 26.36%.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Evercore set a $165.00 target price on shares of FedEx in a report on Friday, June 26th. Stifel Nicolaus reduced their price objective on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a research report on Wednesday, June 24th. Wells Fargo & Company lowered their price objective on FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Raymond James Financial dropped their target price on FedEx from $415.00 to $330.00 and set an "outperform" rating on the stock in a research report on Wednesday, June 24th. Finally, Seaport Research Partners started coverage on FedEx in a report on Wednesday, May 27th. They issued a "buy" rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $350.54.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred 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 transaction, the director owned 16,359 shares of the company's stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.53% of the stock is currently owned by 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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