Western Wealth Management LLC Buys 3,148 Shares of FedEx Corporation $FDX

Western Wealth Management LLC boosted its stake in shares of FedEx Corporation (NYSE:FDX) by 186.1% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 4,840 shares of the shipping service provider’s stock after buying an additional 3,148 shares during the period. Western Wealth Management LLC’s holdings in FedEx were worth $1,617,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of FDX. Brighton Jones LLC lifted its holdings in shares of FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 207 shares during the last quarter. Empowered Funds LLC grew its holdings in FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in FedEx in the 2nd quarter worth about $586,000. Quantbot Technologies LP purchased a new stake in FedEx in the 2nd quarter worth about $186,000. Finally, Jump Financial LLC bought a new stake in FedEx in the second quarter worth about $456,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction 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 completion of the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on FDX. Raymond James Financial cut their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research note on Wednesday, June 24th. TD Cowen decreased their price target on FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Evercore set a $165.00 price objective on FedEx in a report on Friday, June 26th. Stephens raised FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, The Goldman Sachs Group reduced their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

FedEx Stock Performance

Shares of NYSE:FDX opened at $307.41 on Friday. The firm has a market cap of $72.73 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29. The firm’s 50 day simple moving average is $328.67 and its 200-day simple moving average is $350.16. FedEx Corporation has a one year low of $172.88 and a one year high of $345.36. 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 posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm 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%. As a group, equities analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.6%. FedEx’s payout ratio 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.