2,398 Shares in FedEx Corporation $FDX Purchased by Whalerock Point Partners LLC

Whalerock Point Partners LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 2,398 shares of the shipping service provider’s stock, valued at approximately $693,000.

A number of other hedge funds have also recently bought and sold shares of FDX. Wealth Watch Advisors INC acquired a new position in FedEx during the third quarter worth about $28,000. Ameriflex Group Inc. grew its holdings in FedEx by 103.3% during the third quarter. Ameriflex Group Inc. now owns 124 shares of the shipping service provider’s stock worth $29,000 after acquiring an additional 63 shares during the period. Ulland Investment Advisors LLC acquired a new position in FedEx during the fourth quarter worth about $29,000. Tucker Asset Management LLC acquired a new position in FedEx during the fourth quarter worth about $29,000. Finally, Wilkerson Advisory Group LLC acquired a new position in FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Trading Down 0.2%

Shares of FDX opened at $337.65 on Monday. The business’s 50-day moving average price is $371.84 and its 200 day moving average price is $343.17. The stock has a market capitalization of $80.57 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $342.81. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same quarter last year, the business posted $4.51 EPS. FedEx’s revenue was up 8.3% on a year-over-year basis. Analysts expect that FedEx Corporation will post 19.78 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid 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 payout ratio is 30.87%.

Insiders Place Their Bets

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the transaction, the executive vice president owned 11,052 shares of the company’s stock, valued at $4,017,070.44. The trade was a 60.54% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. This trade represents a 51.31% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 48,104 shares of company stock worth $17,599,006. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

FDX has been the topic of a number of research analyst reports. TD Cowen lifted their target price on FedEx from $383.00 to $426.00 and gave the stock a “buy” rating in a report on Friday, March 20th. Raymond James Financial initiated coverage on FedEx in a report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 target price on the stock. Stifel Nicolaus lifted their target price on FedEx from $425.00 to $442.00 in a report on Friday, April 10th. Citigroup initiated coverage on FedEx in a report on Thursday, May 21st. They set a “buy” rating and a $443.00 target price on the stock. Finally, BMO Capital Markets lowered their target price on FedEx from $410.00 to $340.00 and set a “market perform” rating on the stock in a report on Monday, June 1st. Eighteen research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus price target of $371.45.

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.