Roberts Glore & Co. Inc. IL Invests $1.19 Million in FedEx Corporation $FDX

Roberts Glore & Co. Inc. IL bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 3,790 shares of the shipping service provider’s stock, valued at approximately $1,187,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of FDX. Hollencrest Capital Management bought a new position in FedEx during the first quarter valued at $25,000. Bayban bought a new stake in shares of FedEx in the 1st quarter worth about $26,000. Solstein Capital LLC purchased a new position in shares of FedEx during the 2nd quarter worth about $27,000. Cedar Mountain Advisors LLC grew its holdings in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the last quarter. Finally, EFG International AG bought a new position in FedEx during the 4th quarter valued at about $27,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Bank of America raised their price objective on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Stifel Nicolaus cut their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Raymond James Financial reissued an “outperform” rating on shares of FedEx in a research note on Wednesday, August 19th. Citizens Jmp initiated coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective for the company. Finally, Wall Street Zen raised 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 assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Price Performance

FedEx stock opened at $333.54 on Wednesday. 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 has a market cap of $78.94 billion, a price-to-earnings ratio of 18.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The firm has a 50-day moving average of $318.91 and a two-hundred day moving average of $351.31. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36.

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

FedEx Announces Dividend

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

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction 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. The trade was a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.