VELA Investment Management LLC Has $1 Million Holdings in FedEx Corporation (NYSE:FDX)

VELA Investment Management LLC boosted its stake in FedEx Corporation (NYSE:FDX - Free Report) by 39.4% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,117 shares of the shipping service provider's stock after purchasing an additional 1,164 shares during the period. VELA Investment Management LLC's holdings in FedEx were worth $1,004,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of FDX. Norges Bank bought a new position in shares of FedEx during the fourth quarter worth about $807,352,000. Raymond James Financial Inc. acquired a new stake in FedEx during the 4th quarter valued at approximately $234,028,000. Dodge & Cox lifted its position in shares of FedEx by 5.6% in the 4th quarter. Dodge & Cox now owns 13,889,624 shares of the shipping service provider's stock worth $3,907,568,000 after purchasing an additional 734,268 shares during the period. GAMMA Investing LLC boosted its stake in shares of FedEx by 18,202.1% in the 1st quarter. GAMMA Investing LLC now owns 545,586 shares of the shipping service provider's stock valued at $133,003,000 after purchasing an additional 542,605 shares during the last quarter. Finally, Capital Research Global Investors acquired a new stake in shares of FedEx during the fourth quarter worth $145,733,000. 84.47% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FDX has been the topic of several recent analyst reports. Cowen restated a "buy" rating on shares of FedEx in a report on Wednesday, June 25th. Raymond James Financial reissued an "outperform" rating and issued a $260.00 price objective (down from $275.00) on shares of FedEx in a research note on Wednesday, June 25th. Stifel Nicolaus set a $315.00 target price on FedEx in a research note on Wednesday, June 25th. Citigroup lowered their target price on FedEx from $267.00 to $259.00 and set a "buy" rating for the company in a report on Wednesday, June 25th. Finally, Wall Street Zen cut FedEx from a "buy" rating to a "hold" rating in a report on Friday, May 30th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $282.46.

FedEx Stock Performance

FDX stock opened at $240.88 on Friday. The company has a quick ratio of 1.15, a current ratio of 1.19 and a debt-to-equity ratio of 0.68. The firm has a market cap of $57.71 billion, a PE ratio of 14.27, a P/E/G ratio of 1.26 and a beta of 1.35. The business has a 50 day moving average of $222.83 and a 200-day moving average of $241.40. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.84.

FedEx (NYSE:FDX - Get Free Report) last announced its earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $5.98 by $0.09. The firm had revenue of $22.20 billion during the quarter, compared to analyst estimates of $21.86 billion. FedEx had a return on equity of 16.34% and a net margin of 4.65%. During the same period last year, the firm posted $5.41 EPS. As a group, sell-side analysts expect that FedEx Corporation will post 19.14 earnings per share for the current year.

FedEx Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 8th. Shareholders of record on Monday, June 23rd will be issued a dividend of $1.45 per share. This represents a $5.80 annualized dividend and a yield of 2.41%. This is a positive change from FedEx's previous quarterly dividend of $1.38. The ex-dividend date of this dividend is Monday, June 23rd. FedEx's dividend payout ratio is 34.36%.

FedEx Profile

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.

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