Invst LLC Buys New Position in FedEx Corporation $FDX

Invst LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 3,441 shares of the shipping service provider’s stock, valued at approximately $1,077,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Councilmark Asset Management LLC bought a new position in shares of FedEx during the 2nd quarter valued at about $412,000. First Bancorp Inc ME acquired a new position in shares of FedEx in the 2nd quarter worth approximately $332,000. Roberts Glore & Co. Inc. IL bought a new stake in shares of FedEx in the 2nd quarter worth approximately $1,187,000. Jupiter Topco LLC acquired a new stake in FedEx during the second quarter valued at approximately $7,125,000. Finally, Kintayl Capital LP acquired a new stake in FedEx during the second quarter valued at approximately $485,000. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.65% of the stock is owned by company insiders.

FedEx Price Performance

FDX opened at $333.54 on Wednesday. The firm has a market capitalization of $78.94 billion, a P/E ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30. The stock has a fifty day moving average of $318.91 and a 200-day moving average of $351.31. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36.

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

FedEx Announces Dividend

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

Analyst Upgrades and Downgrades

FDX has been the topic of several recent research reports. Wells Fargo & Company decreased their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a research note on Wednesday, August 19th. Stephens upgraded FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. HSBC cut their target price on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. Finally, The Goldman Sachs Group decreased their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price 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.