Roberts Glore & Co. Inc. IL Acquires New Position in FedEx Corporation $FDX

Key Points

• Roberts Glore & Co. Inc. IL acquired 3,790 FedEx shares during the second quarter, valued at approximately $1.19 million. Institutional investors collectively own 84.47% of FedEx.
• FedEx reported quarterly earnings of $5.88 per share on revenue of $23.26 billion, while analysts expect full-year earnings of $17.60 per share.
• FedEx declared a quarterly dividend of $1.22 per share, equivalent to an annualized $4.88 payout and a 1.5% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $350.54.

Roberts Glore & Co. Inc. IL bought a new position in FedEx Corporation (NYSE:FDX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 3,790 shares of the shipping service provider's stock, valued at approximately $1,187,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hollencrest Capital Management purchased a new stake in FedEx in the 1st quarter worth $25,000. Bayban purchased a new position in shares of FedEx in the first quarter valued at about $26,000. Solstein Capital LLC bought a new position in shares of FedEx in the second quarter worth about $27,000. Cedar Mountain Advisors LLC grew its position in shares of FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock worth $33,000 after purchasing an additional 41 shares in the last quarter. Finally, EFG International AG purchased a new stake in shares of FedEx during the fourth quarter worth about $27,000. Institutional investors own 84.47% of the company's stock.

FedEx Stock Performance

NYSE:FDX opened at $333.54 on Wednesday. The company has a market cap of $78.94 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The stock's 50 day simple moving average is $318.91 and its two-hundred day simple moving average is $351.31. 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 (NYSE:FDX - Get Free Report) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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 during the quarter. As a group, equities analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given 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 1.5%. FedEx's dividend payout ratio (DPR) is 26.36%.

Insider Activity at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares of the company's stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FDX has been the topic of a number of research analyst reports. Raymond James Financial reissued an "outperform" rating on shares of FedEx in a report on Wednesday, August 19th. JPMorgan Chase & Co. reiterated a "buy" rating on shares of FedEx in a research report on Friday, June 26th. Wells Fargo & Company lowered their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating on the stock in a report on Wednesday, June 17th. Seaport Research Partners initiated coverage on shares of FedEx in a research report on Wednesday, May 27th. They set a "buy" rating for the company. Finally, Weiss Ratings upgraded shares of FedEx from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, August 18th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company's stock. According to data from MarketBeat.com, FedEx has an average rating of "Moderate Buy" and an average 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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