Vise Technologies Inc. Invests $3.92 Million in FedEx Corporation $FDX

Vise Technologies Inc. purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 12,521 shares of the shipping service provider’s stock, valued at approximately $3,921,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in 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 purchasing an additional 207 shares in the last quarter. Empowered Funds LLC grew its position in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx in the second quarter valued at approximately $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new position in FedEx during the second quarter worth approximately $456,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Jefferies Financial Group initiated coverage on FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective on the stock. UBS Group reduced their price target on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a report on Wednesday. Finally, Wall Street Zen upgraded shares of FedEx to a “hold” rating in a research report on Saturday, August 8th. One equities research 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’s stock. Based on data from MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated 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 sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.53% of the company’s stock.

FedEx Trading Down 0.7%

Shares of FedEx stock opened at $326.15 on Friday. The stock has a 50 day moving average of $319.29 and a 200 day moving average of $351.72. 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 firm has a market capitalization of $77.19 billion, a price-to-earnings ratio of 17.62, a PEG ratio of 1.69 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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, research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. 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.