Vise Technologies Inc. Acquires Shares of 12,521 FedEx Corporation $FDX

Key Points

• Vise Technologies acquired 12,521 FedEx shares during the second quarter, valued at approximately $3.92 million. Institutional investors and hedge funds collectively own 84.47% of FedEx’s outstanding stock.
• FedEx reported quarterly revenue of $23.26 billion and earnings per share of $5.88, while analysts expect full-year earnings of $17.60 per share. The stock recently opened at $326.15, with a consensus analyst rating of “Moderate Buy” and an average price target of $350.54.
• FedEx pays an annualized dividend of $4.88 per share, yielding 1.5%, but recently reduced its dividend. Director Paul S. Walsh also sold 5,042 shares worth approximately $1.64 million.

Vise Technologies Inc. acquired a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 12,521 shares of the shipping service provider's stock, valued at approximately $3,921,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new stake in FedEx in the first quarter valued at $25,000. Bayban purchased a new position in shares of FedEx during the 1st quarter valued at about $26,000. Cedar Mountain Advisors LLC raised its stake in shares of FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider's stock valued at $33,000 after buying an additional 41 shares during the last quarter. EFG International AG acquired a new position in shares of FedEx in the 4th quarter valued at about $27,000. Finally, Tucker Asset Management LLC purchased a new stake in shares of FedEx in the fourth quarter worth about $29,000. Institutional investors and hedge funds own 84.47% of the company's stock.

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FedEx Stock Down 0.7%

FDX stock opened at $326.15 on Friday. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a 50-day simple moving average of $319.29 and a 200-day simple moving average of $351.72. The stock has a market capitalization of $77.19 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.69 and a beta of 1.30.

FedEx (NYSE:FDX - Get Free Report) last issued 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 firm had revenue of $23.26 billion for the quarter. Equities analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal 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 issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx's dividend payout ratio is presently 26.36%.

Analyst Upgrades and Downgrades

FDX has been the subject of several recent research reports. HSBC reduced their price target on FedEx from $360.00 to $289.89 and set a "hold" rating for the company in a research report on Monday, June 1st. Weiss Ratings raised shares of FedEx from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday. Truist Financial cut their target price on shares of FedEx from $425.00 to $365.00 and set a "buy" rating for the company in a report on Thursday, June 25th. JPMorgan Chase & Co. reaffirmed a "buy" rating on shares of FedEx in a report on Friday, June 26th. Finally, Wells Fargo & Company decreased their target price on shares of FedEx from $450.00 to $425.00 and set an "overweight" rating for the company in a research note on Wednesday, June 17th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat.com, FedEx currently has a consensus rating of "Moderate Buy" and an average target price of $350.54.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred 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 of the company's stock, 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 legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by company insiders.

FedEx Profile

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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