Plato Investment Management Ltd Takes $936,000 Position in FedEx Corporation $FDX

Plato Investment Management Ltd acquired a new position in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,007 shares of the shipping service provider’s stock, valued at approximately $936,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FDX. Hollencrest Capital Management acquired a new stake in FedEx during the 1st quarter valued at approximately $25,000. Bayban acquired a new stake in shares of FedEx in the first quarter worth $26,000. EFG International AG acquired a new stake in shares of FedEx in the fourth quarter worth $27,000. Wealth Watch Advisors INC purchased a new position in shares of FedEx during the third quarter worth $28,000. Finally, Tucker Asset Management LLC purchased a new position in shares of FedEx during the fourth quarter worth $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Raymond James Financial lowered their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. Wall Street Zen upgraded FedEx to a “hold” rating in a research note on Saturday, August 8th. Stifel Nicolaus decreased their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 target price on FedEx in a research note on Wednesday, June 24th. Finally, Seaport Research Partners assumed coverage on FedEx in a research note on Wednesday, May 27th. They issued a “buy” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated 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 completion of the transaction, the director owned 16,359 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

FedEx Stock Performance

Shares of NYSE FDX opened at $328.43 on Wednesday. The company’s fifty day moving average price is $319.36 and its 200 day moving average price is $351.63. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The company has a market capitalization of $77.70 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last released 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 during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

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.