1,917 Shares in FedEx Corporation $FDX Purchased by Veratis Advisors Inc.

Veratis Advisors Inc. bought a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 1,917 shares of the shipping service provider’s stock, valued at approximately $600,000.

Other hedge funds have also bought and sold shares of the company. Ferguson Wellman Capital Management Inc. grew its stake in shares of FedEx by 3.2% in the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after acquiring an additional 26 shares during the last quarter. OneAscent Financial Services LLC lifted its holdings in FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock valued at $491,000 after acquiring an additional 29 shares during the period. Whipplewood Advisors LLC grew its position in FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after buying an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after purchasing an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC lifted its position in shares of FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 30 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on FDX. Wells Fargo & Company cut their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Seaport Research Partners began coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating on the stock. Citigroup initiated coverage on shares of FedEx in a research note on Wednesday, July 15th. They set an “outperform” rating for the company. Bank of America increased their target price on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Finally, The Goldman Sachs Group dropped their price objective on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One equities research 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 assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s 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 sale, the director owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.65% of the company’s stock.

FedEx Stock Up 2.8%

FedEx stock opened at $334.05 on Tuesday. 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 business has a 50 day simple moving average of $318.95 and a 200-day simple moving average of $351.51. The stock has a market capitalization of $79.06 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company 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, analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Announces Dividend

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

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.