Lombard Odier Asset Management Switzerland SA Takes Position in FedEx Corporation $FDX

Key Points

• Lombard Odier Asset Management initiated a FedEx position by purchasing 6,088 shares worth approximately $2.17 million in the first quarter. Institutional investors collectively own 84.47% of FedEx’s stock.
• Analyst sentiment remains positive but mixed, with FedEx receiving a “Moderate Buy” consensus rating and an average price target of $350.54; recent targets ranged from $289.89 to $425.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue, while director Paul S. Walsh sold 5,042 shares at an average price of $324.56. The company’s quarterly dividend was $1.22 per share, equivalent to a 1.6% yield.

Lombard Odier Asset Management Switzerland SA bought a new position in shares of FedEx Corporation (NYSE:FDX - Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 6,088 shares of the shipping service provider's stock, valued at approximately $2,168,000.

Other large investors have also recently modified their holdings of the company. 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 bought a new position in FedEx during the 4th quarter worth about $27,000. Wealth Watch Advisors INC purchased a new position in FedEx during the 3rd quarter valued at about $28,000. Finally, Tucker Asset Management LLC bought a new stake in shares of FedEx in the 4th quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company's stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of analyst reports. Argus upped their target price on FedEx from $350.00 to $400.00 and gave the stock a "buy" rating in a report on Monday, April 6th. TD Cowen reduced their price target on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a "buy" rating on the stock in a research report on Monday, June 1st. Wells Fargo & Company decreased their price target on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research report on Wednesday, June 17th. Finally, HSBC lowered their price target on shares of FedEx from $360.00 to $289.89 and set a "hold" rating on the stock in a report on Monday, June 1st. One analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $350.54.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx 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 completion of the sale, the director directly 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 legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 0.53% of the company's stock.

FedEx Price Performance

NYSE FDX opened at $314.77 on Monday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock's fifty day moving average price is $335.98 and its 200 day moving average price is $350.42. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The company has a market cap of $74.47 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29.

FedEx (NYSE:FDX - Get Free Report) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.6%. The ex-dividend date was Monday, June 22nd. FedEx's dividend payout ratio is 26.36%.

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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