Global Retirement Partners LLC Purchases Shares of 4,832 FedEx Corporation $FDX

Key Points

• Global Retirement Partners purchased 4,832 FedEx shares during the second quarter, valued at approximately $1.51 million. Institutional investors collectively own 84.47% of FedEx’s outstanding stock.
• FedEx reported quarterly revenue of $23.26 billion and earnings of $5.88 per share, while analysts project full-year earnings of $17.60 per share.
• FedEx shares opened at $331.86, and analysts maintain a consensus “Moderate Buy” rating with an average price target of $350.54. The company pays a $1.22 quarterly dividend, equivalent to a 1.5% yield.

Global Retirement Partners LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,832 shares of the shipping service provider's stock, valued at approximately $1,513,000.

Other large investors also recently modified their holdings of the company. 1ST Source Bank acquired a new stake in shares of FedEx in the 2nd quarter valued at about $432,000. Fielder Capital Group LLC acquired a new position in FedEx during the 2nd quarter worth approximately $434,000. Lynch Asset Management Inc. bought a new position in FedEx in the second quarter worth approximately $5,198,000. SCS Capital Management LLC bought a new position in FedEx in the second quarter worth approximately $14,892,000. Finally, Silverlake Wealth Management LLC acquired a new stake in FedEx in the second quarter valued at approximately $270,000. Institutional investors and hedge funds own 84.47% of the company's stock.

FedEx Stock Performance

Shares of FDX opened at $331.86 on Tuesday. The stock has a 50 day moving average of $319.43 and a 200 day moving average of $351.54. The company has a market capitalization of $78.51 billion, a price-to-earnings ratio of 17.93, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. 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 (NYSE:FDX - Get Free Report) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. As a group, sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

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

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Deutsche Bank Aktiengesellschaft lowered FedEx from a "buy" rating to a "hold" rating in a research report on Wednesday, May 27th. Raymond James Financial decreased their price target on shares of FedEx from $415.00 to $330.00 and set an "outperform" rating for the company in a research note on Wednesday, June 24th. Evercore set a $165.00 price objective on shares of FedEx in a report on Friday, June 26th. Barclays dropped their price objective on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a research note on Wednesday, June 17th. Finally, 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 report on Wednesday, June 24th. One equities research 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 issued a Sell rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $350.54.

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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