3,337 Shares in FedEx Corporation $FDX Acquired by Western Wealth Management LLC

Western Wealth Management LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,337 shares of the shipping service provider’s stock, valued at approximately $1,045,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares in the last quarter. Empowered Funds LLC raised its position in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in FedEx during the second quarter worth about $586,000. Quantbot Technologies LP purchased a new stake in shares of FedEx in the second quarter valued at about $186,000. Finally, Jump Financial LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the stock. Barclays dropped their price objective 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. BNP Paribas Exane lowered their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Evercore set a $165.00 price target on FedEx in a research report on Friday, June 26th. Stephens raised FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Finally, Jefferies Financial Group started coverage on FedEx in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Activity at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

FedEx Stock Down 0.2%

FDX stock opened at $333.54 on Wednesday. The company has a 50 day moving average price of $318.91 and a two-hundred day moving average price of $351.31. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market capitalization of $78.94 billion, a P/E ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX) 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 return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. As a group, sell-side analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio (DPR) 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.