Pure Financial Advisors LLC Makes New Investment in FedEx Corporation $FDX

Pure Financial Advisors LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 2,765 shares of the shipping service provider’s stock, valued at approximately $866,000.

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

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. The Goldman Sachs Group lowered their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Stephens upgraded shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. HSBC lowered their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research note on Monday, June 1st. Wells Fargo & Company cut their price target on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, TD Cowen reduced their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Stock Up 0.8%

FDX stock opened at $336.52 on Thursday. The stock has a market capitalization of $79.64 billion, a P/E ratio of 18.18, a P/E/G ratio of 1.72 and a beta of 1.30. The firm has a 50-day simple moving average of $319.13 and a 200-day simple moving average of $351.11. 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 52 week low of $177.05 and a 52 week high of $345.36.

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

FedEx Dividend Announcement

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

FedEx Company 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.