Clear Trail Advisors LLC Makes New Investment in FedEx Corporation $FDX

Clear Trail Advisors LLC bought a new position in shares of FedEx Corporation (NYSE:FDXFree Report) in the first quarter, Holdings Channel reports. The fund bought 5,572 shares of the shipping service provider’s stock, valued at approximately $1,985,000.

A number of other institutional investors also recently modified their holdings of FDX. EFG International AG bought a new position in FedEx during the fourth quarter worth about $27,000. Wealth Watch Advisors INC acquired a new position in shares of FedEx during the 3rd quarter worth approximately $28,000. Ameriflex Group Inc. grew its position in shares of FedEx by 103.3% during the 3rd quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after purchasing an additional 63 shares in the last quarter. Ulland Investment Advisors LLC bought a new position in shares of FedEx during the fourth quarter worth approximately $29,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx during the fourth quarter worth approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Key Headlines Impacting FedEx

Here are the key news stories impacting FedEx this week:

Analysts Set New Price Targets

Several brokerages recently issued reports on FDX. Bank of America cut their price target on FedEx from $440.00 to $376.00 and set a “buy” rating for the company in a research note on Tuesday, June 2nd. Wells Fargo & Company lowered their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Barclays cut their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Finally, Argus raised their price target on FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research report on Monday, April 6th. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $367.76.

Read Our Latest Analysis on FDX

Insiders Place Their Bets

In related news, EVP Tracy B. Brightman sold 16,959 shares of the company’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares in the company, valued at $4,017,070.44. This represents a 60.54% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president directly owned 19,403 shares in the company, valued at $7,110,229.35. This trade represents a 51.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 48,104 shares of company stock worth $17,599,006 over the last 90 days. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $328.49 on Tuesday. The firm’s 50 day simple moving average is $367.67 and its 200 day simple moving average is $345.54. The firm has a market capitalization of $78.38 billion, a price-to-earnings ratio of 17.48, a P/E/G ratio of 1.48 and a beta of 1.28. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders 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 1.5%. FedEx’s dividend payout ratio (DPR) is presently 30.87%.

FedEx Company Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for FedEx (NYSE:FDX)

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