Rokos Capital Management LLP Buys Shares of 20,630 FedEx Corporation $FDX

Rokos Capital Management LLP purchased a new stake in FedEx Corporation (NYSE:FDX) during the first quarter, according to its most recent filing with the SEC. The firm purchased 20,630 shares of the shipping service provider’s stock, valued at approximately $7,350,000.

Several other large investors have also recently made changes to their positions in FDX. Sivia Capital Partners LLC purchased a new position in FedEx in the second quarter worth $586,000. CWM LLC increased its position in shares of FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after purchasing an additional 26,322 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its holdings in shares of FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after purchasing an additional 3,138 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of FedEx by 19.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock valued at $12,081,000 after purchasing an additional 6,864 shares during the last quarter. Finally, North Dakota State Investment Board acquired a new stake in shares of FedEx in the 4th quarter worth $2,122,000. 84.47% of the stock is owned by institutional investors.

FedEx Price Performance

NYSE FDX opened at $310.54 on Tuesday. The company has a market cap of $73.47 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.62 and a beta of 1.29. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock’s fifty day moving average price is $334.80 and its 200 day moving average price is $350.44. FedEx Corporation has a 1 year low of $172.88 and a 1 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 EPS for the quarter. The company had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. As a group, equities research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. FedEx’s payout ratio is 26.36%.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction that occurred 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 sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FDX has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Raymond James Financial decreased their price target on FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research note on Wednesday, June 24th. TD Cowen lowered their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Seaport Research Partners began coverage on FedEx in a research note on Wednesday, May 27th. They set a “buy” rating on the stock. Finally, Argus upped their price objective on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a report on Monday, April 6th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price 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.