FedEx Corporation $FDX Shares Bought by Czech National Bank

Czech National Bank grew its stake in FedEx Corporation (NYSE:FDX) by 6.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,483 shares of the shipping service provider’s stock after acquiring an additional 3,571 shares during the quarter. Czech National Bank’s holdings in FedEx were worth $19,565,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in FDX. Hollencrest Capital Management purchased a new position in shares of FedEx during the 1st quarter worth $25,000. Bayban purchased a new stake in shares of FedEx in the first quarter valued at $26,000. Cedar Mountain Advisors LLC grew its position in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 41 shares during the period. EFG International AG acquired a new position in FedEx in the fourth quarter valued at $27,000. Finally, Tucker Asset Management LLC acquired a new position in FedEx in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Rothschild & Co Redburn decreased their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Evercore set a $165.00 price objective on shares of FedEx in a report on Friday, June 26th. Barclays decreased their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Citizens Jmp assumed coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price for the company. Finally, Raymond James Financial dropped their price target on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating for the company in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by company insiders.

FedEx Trading Up 0.9%

Shares of FDX stock opened at $318.64 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. FedEx Corporation has a fifty-two week low of $176.00 and a fifty-two week high of $345.36. The firm’s 50 day moving average price is $319.48 and its two-hundred day moving average price is $350.25. The stock has a market cap of $75.39 billion, a price-to-earnings ratio of 17.21, a price-to-earnings-growth ratio of 1.63 and a beta of 1.30.

FedEx (NYSE:FDX) last released its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) 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, analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a 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.