Foster & Motley Inc. Invests $1.38 Million in FedEx Corporation $FDX

Key Points

• Foster & Motley Inc. acquired 4,392 FedEx shares during the second quarter, valued at approximately $1.38 million. Institutional investors collectively own 84.47% of the company.
• Analyst sentiment remains positive but mixed: FedEx has a consensus “Moderate Buy” rating and an average price target of $350.54, while some firms recently downgraded the stock or cut their targets.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share. Its shares opened at $328.07, and the company pays a quarterly dividend of $1.22 per share, representing a 1.5% yield.

Foster & Motley Inc. bought a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent filing with the SEC. The fund bought 4,392 shares of the shipping service provider's stock, valued at approximately $1,375,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Hollencrest Capital Management bought a new position in FedEx in the 1st quarter worth about $25,000. Bayban purchased a new stake in FedEx in the first quarter valued at approximately $26,000. EFG International AG bought a new stake in FedEx during the fourth quarter valued at approximately $27,000. Wealth Watch Advisors INC purchased a new position in FedEx in the 3rd quarter worth approximately $28,000. Finally, Tucker Asset Management LLC purchased a new position in FedEx in the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors.

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 shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 0.53% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Stifel Nicolaus lowered their price objective on shares of FedEx from $442.00 to $326.00 and set a "buy" rating for the company in a report on Wednesday, June 24th. Jefferies Financial Group began coverage on shares of FedEx in a research report on Tuesday, June 23rd. They issued a "buy" rating and a $200.00 target price on the stock. Evercore set a $165.00 price target on shares of FedEx in a research report on Friday, June 26th. Finally, Rothschild & Co Redburn decreased their price objective on FedEx from $375.00 to $344.00 and set a "neutral" rating on the stock in a report on Tuesday, June 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $350.54.

FedEx Price Performance

FDX stock opened at $328.07 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The firm has a 50-day moving average of $319.53 and a 200 day moving average of $351.69. The company has a market cap of $77.65 billion, a P/E ratio of 17.72, a PEG ratio of 1.69 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last posted 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 $23.26 billion for the quarter. On average, sell-side analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed 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. 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 (DPR) is currently 26.36%.

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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