406,717 Shares in FedEx Corporation $FDX Purchased by Corient Private Wealth LP

Corient Private Wealth LP acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, HoldingsChannel.com reports. The institutional investor acquired 406,717 shares of the shipping service provider’s stock, valued at approximately $32,464,000.

Other hedge funds have also added to or reduced their stakes in the company. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter valued at $25,000. Bayban purchased a new position in shares of FedEx during the first quarter valued at $26,000. EFG International AG bought a new stake in shares of FedEx in the fourth quarter valued at about $27,000. Solstein Capital LLC purchased a new stake in FedEx in the second quarter worth about $27,000. Finally, Wealth Watch Advisors INC bought a new position in FedEx during the 3rd quarter worth about $28,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Stock Performance

Shares of FDX opened at $331.45 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market cap of $78.44 billion, a PE ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The stock has a fifty day moving average price of $319.23 and a 200-day moving average price of $350.85.

FedEx (NYSE:FDX) last announced its 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 firm had revenue of $23.26 billion for the quarter. Equities research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a dividend of $1.22 per share. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on 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 completion of the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.65% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FDX. Rothschild & Co Redburn reduced their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. UBS Group reduced their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Wall Street Zen upgraded FedEx to a “hold” rating in a report on Saturday, August 8th. Citizens Jmp initiated coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Finally, Seaport Research Partners began coverage on FedEx in a report on Wednesday, May 27th. They issued a “buy” rating on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

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.