Wealthfront Advisers LLC Invests $12.39 Million in FedEx Corporation $FDX

Key Points

• Wealthfront Advisers acquired 39,565 FedEx shares worth approximately $12.39 million during the second quarter. Institutional investors and hedge funds collectively own 84.47% of FDX.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and an average price target of $350.54, although several firms recently lowered their targets.
• FedEx reported quarterly earnings of $5.88 per share on $23.26 billion in revenue and pays a quarterly dividend of $1.22 per share, equal to a 1.5% yield; director Paul S. Walsh separately sold $1.64 million of stock.

Wealthfront Advisers LLC acquired a new stake in FedEx Corporation (NYSE:FDX - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 39,565 shares of the shipping service provider's stock, valued at approximately $12,389,000.

Several other large investors also recently modified their holdings of FDX. Hollencrest Capital Management acquired a new position in FedEx in the first quarter valued at $25,000. Bayban bought a new stake in FedEx during the first quarter valued at $26,000. EFG International AG acquired a new stake in FedEx during the 4th quarter worth about $27,000. Wealth Watch Advisors INC acquired a new stake in FedEx during the 3rd quarter worth about $28,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the 4th quarter worth about $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FDX has been the topic of a number of recent analyst reports. Evercore set a $165.00 price objective on FedEx in a research note on Friday, June 26th. TD Cowen decreased their target price on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Raymond James Financial dropped their price target on FedEx from $415.00 to $330.00 and set an "outperform" rating on the stock in a research note on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 price target on FedEx in a report on Wednesday, June 24th. Finally, Wells Fargo & Company reduced their price objective 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. One investment 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 given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the company's stock in a transaction dated 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 sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is owned by corporate insiders.

FedEx Price Performance

Shares of FDX opened at $328.43 on Wednesday. The business's fifty day moving average is $319.36 and its 200 day moving average is $351.63. FedEx Corporation has a 12-month low of $177.05 and a 12-month 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 stock has a market cap of $77.70 billion, a P/E ratio of 17.74, a P/E/G ratio of 1.72 and a beta of 1.30.

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

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx's payout ratio is presently 26.36%.

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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