Capstone Investment Advisors LLC Acquires Shares of 8,258 FedEx Corporation $FDX

Capstone Investment Advisors LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 8,258 shares of the shipping service provider’s stock, valued at approximately $2,586,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management purchased a new stake in FedEx during the 1st quarter valued at $25,000. Bayban purchased a new position in FedEx during the first quarter worth $26,000. Solstein Capital LLC purchased a new position in FedEx during the second quarter worth $27,000. Cedar Mountain Advisors LLC increased its position in FedEx by 77.4% during the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after acquiring an additional 41 shares during the last quarter. Finally, EFG International AG purchased a new stake in shares of FedEx in the fourth quarter valued at $27,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FDX. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. TD Cowen reduced their price objective on shares of FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Wells Fargo & Company dropped 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. Finally, Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. One investment 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. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 1.4%

FDX opened at $331.45 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The stock’s fifty day moving average is $319.23 and its two-hundred day moving average is $350.85. The company has a market capitalization of $78.44 billion, a P/E ratio of 17.91, a PEG ratio of 1.73 and a beta of 1.30. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors 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 dividend on an annualized basis and a yield of 1.5%. FedEx’s dividend payout ratio is 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.