Pure Financial Advisors LLC bought a new position in FedEx Corporation (NYSE:FDX – Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The firm bought 2,765 shares of the shipping service provider’s stock, valued at approximately $866,000.
Several other institutional investors and hedge funds have also made changes to their positions in FDX. BlackRock Inc. acquired a new stake in shares of FedEx in the second quarter valued at approximately $6,508,103,000. Primecap Management Co. CA acquired a new position in FedEx during the second quarter worth $2,554,138,000. Norges Bank acquired a new position in FedEx during the fourth quarter worth $859,085,000. Boston Partners purchased a new stake in FedEx in the 3rd quarter valued at $468,195,000. Finally, Bank of America Corp DE acquired a new stake in shares of FedEx in the 2nd quarter worth $579,171,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research firms have recently commented on FDX. HSBC reduced their price target on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a report on Monday, June 1st. Seaport Research Partners started coverage on shares of FedEx in a report on Wednesday, May 27th. They issued a “buy” rating on the stock. Evercore set a $165.00 price target on shares of FedEx in a research note on Friday, June 26th. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.
FedEx Price Performance
Shares of FDX opened at $336.52 on Thursday. The firm has a 50-day simple moving average of $319.13 and a two-hundred day simple moving average of $351.11. The stock has a market cap of $79.64 billion, a PE ratio of 18.18, a P/E/G 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 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 quarterly earnings data 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 during the quarter. As a group, analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.
FedEx Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Monday, September 14th. FedEx’s dividend payout ratio (DPR) is currently 26.36%.
Insider Buying and Selling at FedEx
In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction 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 completion of the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.
FedEx Company 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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