NewEdge Advisors LLC Has $10.76 Million Position in FedEx Corporation $FDX

NewEdge Advisors LLC lifted its holdings in FedEx Corporation (NYSE:FDX - Free Report) by 74.1% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 34,354 shares of the shipping service provider's stock after acquiring an additional 14,624 shares during the period. NewEdge Advisors LLC's holdings in FedEx were worth $10,757,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. California State Teachers Retirement System boosted its holdings in shares of FedEx by 37,961.3% during the 2nd quarter. California State Teachers Retirement System now owns 98,431,789 shares of the shipping service provider's stock worth $30,821,946,000 after buying an additional 98,173,175 shares in the last quarter. BlackRock Inc. bought a new position in FedEx during the second quarter worth $6,508,103,000. State Street Corp boosted its stake in FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider's stock worth $2,763,824,000 after acquiring an additional 382,848 shares in the last quarter. Primecap Management Co. CA acquired a new stake in FedEx in the second quarter worth $2,554,138,000. Finally, Franklin Resources Inc. increased its stake in FedEx by 6.6% in the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider's stock valued at $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Up 0.0%

NYSE:FDX opened at $311.95 on Friday. 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 one year low of $179.50 and a one year high of $345.36. The company has a market cap of $73.83 billion, a PE ratio of 16.85, a PEG ratio of 1.66 and a beta of 1.32. The firm has a 50-day moving average of $319.16 and a 200-day moving average of $346.76.

FedEx (NYSE:FDX - Get Free Report) last announced its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The business had revenue of $23.26 billion for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. As a group, equities research analysts expect that FedEx Corporation will post 17.55 EPS for the current fiscal year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx's dividend payout ratio is 26.36%.

Insider Buying and Selling

In other FedEx news, Director Paul Walsh sold 5,042 shares of the firm's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.65% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on FDX shares. Weiss Ratings lowered shares of FedEx from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, September 2nd. BNP Paribas Exane reduced their target price on FedEx from $335.00 to $269.76 and set a "neutral" rating for the company in a research note on Tuesday, June 2nd. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut FedEx from a "buy" rating to a "hold" rating in a research note on Wednesday, May 27th. Finally, Bank of America boosted their price objective on FedEx from $376.00 to $378.00 and gave the company a "buy" rating in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, FedEx presently has a consensus rating of "Moderate Buy" and a consensus target price of $355.17.

FedEx Profile

FedEx Corporation NYSE: FDX is a global transportation, e-commerce and business services company. Through its operating companies, FedEx provides package delivery, freight transportation, logistics, supply chain management and related services for businesses, governments and consumers.

The company's offerings include time-definite express shipping, ground delivery, less-than-truckload freight transportation, customs and international trade support, warehousing, fulfillment and other logistics solutions.

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