Fieldview Capital Management LLC increased its stake in shares of FedEx Corporation (NYSE:FDX – Free Report) by 94.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,879 shares of the shipping service provider’s stock after acquiring an additional 2,858 shares during the quarter. Fieldview Capital Management LLC’s holdings in FedEx were worth $1,698,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Brighton Jones LLC grew its position in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC grew its position in FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in FedEx during the 2nd quarter worth $586,000. Quantbot Technologies LP purchased a new position in FedEx during the 2nd quarter worth $186,000. Finally, Jump Financial LLC purchased a new position in FedEx during the 2nd quarter worth $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.
FedEx Stock Down 0.2%
Shares of NYSE:FDX opened at $337.65 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $342.81. The firm’s 50-day simple moving average is $371.84 and its 200-day simple moving average is $343.17. The company has a market cap of $80.57 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28.
FedEx Cuts Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date is Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. FedEx’s dividend payout ratio (DPR) is 30.87%.
Insider Activity at FedEx
In related news, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the completion of the sale, the executive vice president owned 11,052 shares in the company, valued at $4,017,070.44. This trade represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Susan C. Schwab sold 5,795 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director owned 10,038 shares of the company’s stock, valued at $3,704,022. This trade represents a 36.60% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 48,104 shares of company stock worth $17,599,006 over the last three months. 0.53% of the stock is currently owned by company insiders.
Analyst Ratings Changes
FDX has been the topic of several research reports. Evercore downgraded shares of FedEx from an “outperform” rating to a “cautious” rating in a research report on Wednesday, May 27th. JPMorgan Chase & Co. raised shares of FedEx from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $432.00 to $460.00 in a research report on Wednesday, May 27th. HSBC lowered their price objective on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. Sanford C. Bernstein raised their price objective on shares of FedEx from $457.00 to $470.00 and gave the stock an “outperform” rating in a research report on Thursday, April 9th. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $371.45.
Read Our Latest Research Report on FDX
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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