1,431,101 Shares in FedEx Corporation $FDX Bought by Legal & General Group Plc

Legal & General Group Plc bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 1,431,101 shares of the shipping service provider’s stock, valued at approximately $448,121,000. Legal & General Group Plc owned about 0.60% of FedEx at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx during the 1st quarter worth approximately $25,000. Bayban acquired a new position in FedEx during the 1st quarter valued at approximately $26,000. Solstein Capital LLC acquired a new position in FedEx during the 2nd quarter valued at approximately $27,000. Cedar Mountain Advisors LLC grew its stake in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after buying an additional 41 shares during the last quarter. Finally, EFG International AG bought a new position in FedEx during the 4th quarter worth $27,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FedEx

In other 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 owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.65% of the company’s stock.

FedEx Stock Down 0.2%

FedEx stock opened at $333.54 on Wednesday. The company’s 50-day moving average price is $318.91 and its two-hundred day moving average price is $351.31. The stock has a market cap of $78.94 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The business had revenue of $23.26 billion during the quarter. On average, analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be given a dividend of $1.22 per share. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Analyst Ratings Changes

A number of research firms have issued reports on FDX. BNP Paribas Exane cut their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Wall Street Zen raised shares of FedEx to a “hold” rating in a report on Saturday, August 8th. Evercore set a $165.00 price objective on shares of FedEx in a research report on Friday, June 26th. Citizens Jmp started coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price for the company. Finally, Seaport Research Partners started coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating for the company. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

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.