Ieq Capital LLC Has $56.13 Million Stock Holdings in FedEx Corporation $FDX

Ieq Capital LLC raised its holdings in FedEx Corporation (NYSE:FDX) by 23.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 194,320 shares of the shipping service provider’s stock after purchasing an additional 36,577 shares during the quarter. Ieq Capital LLC’s holdings in FedEx were worth $56,131,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of FedEx by 13.2% in the 3rd quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares in the last quarter. Dodge & Cox boosted its holdings in shares of FedEx by 12.0% in the 3rd quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares in the last quarter. Franklin Resources Inc. boosted its holdings in shares of FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock valued at $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of FedEx by 0.9% in the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of FedEx by 3.1% in the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after purchasing an additional 108,426 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on FDX shares. Sanford C. Bernstein raised their target price on FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a report on Thursday, April 9th. Deutsche Bank Aktiengesellschaft downgraded FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. TD Cowen raised their price objective on FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a report on Friday, March 20th. Raymond James Financial assumed coverage on FedEx in a report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 price objective on the stock. Finally, JPMorgan Chase & Co. raised FedEx from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $432.00 to $460.00 in a report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $371.45.

FedEx Trading Down 0.1%

NYSE FDX opened at $337.65 on Friday. The company has a market cap of $80.57 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $342.81. The business’s fifty day moving average is $371.84 and its 200 day moving average is $342.64.

FedEx (NYSE:FDX) last announced its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.12 by $1.13. The business had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx’s revenue for the quarter was up 8.3% compared to the same quarter last year. During the same period last year, the company earned $4.51 EPS. As a group, sell-side analysts expect that FedEx Corporation will post 19.72 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 30.87%.

Insider Buying and Selling

In related news, EVP Gina F. Adams sold 20,450 shares of the firm’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 48,104 shares of company stock valued at $17,599,006 in the last quarter. 0.53% of the stock is currently owned by company insiders.

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.