6,739 Shares in FedEx Corporation $FDX Purchased by Bull Harbor Capital LLC

Bull Harbor Capital LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 6,739 shares of the shipping service provider’s stock, valued at approximately $2,400,000. FedEx comprises 0.6% of Bull Harbor Capital LLC’s holdings, making the stock its 24th largest position.

Several other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of FedEx in the 4th quarter worth approximately $859,085,000. Boston Partners purchased a new stake in shares of FedEx during the third quarter valued at approximately $468,195,000. AQR Capital Management LLC lifted its holdings in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after acquiring an additional 1,718,278 shares during the period. Waddell & Associates LLC grew its stake in FedEx by 164.0% in the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after purchasing an additional 738,122 shares during the period. Finally, Amundi increased its position in shares of FedEx by 181.9% during the 1st quarter. Amundi now owns 1,015,844 shares of the shipping service provider’s stock valued at $361,823,000 after purchasing an additional 655,504 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on 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 completion of the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is currently owned by insiders.

FedEx Stock Down 1.2%

FDX opened at $308.96 on Thursday. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $345.36. The company has a market cap of $73.10 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. 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 company has a 50 day moving average of $332.02 and a 200 day moving average of $350.48.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The firm had revenue of $23.26 billion for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, sell-side analysts expect that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

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

Analyst Ratings Changes

A number of research firms have recently commented on FDX. Citigroup started coverage on FedEx in a research note on Wednesday, July 15th. They set an “outperform” rating on the stock. BNP Paribas Exane decreased their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research note on Wednesday, June 24th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $350.54.

About FedEx

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.