61,088 Shares in FedEx Corporation $FDX Bought by Man Group plc

Man Group plc acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 61,088 shares of the shipping service provider’s stock, valued at approximately $19,128,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FDX. Hollencrest Capital Management purchased a new stake in FedEx in the first quarter worth about $25,000. Bayban purchased a new position in FedEx during the first quarter valued at $26,000. Solstein Capital LLC purchased a new position in FedEx during the second quarter valued at $27,000. EFG International AG bought a new stake in FedEx in the fourth quarter worth $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in shares of FedEx in the third quarter worth $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities analysts have recently issued reports on FDX shares. The Goldman Sachs Group lowered their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Rothschild & Co Redburn decreased their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price 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 on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction 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. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.65% of the company’s stock.

FedEx Price Performance

FDX opened at $331.45 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The stock has a market capitalization of $78.44 billion, a P/E ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30. The company’s 50-day simple moving average is $319.23 and its two-hundred day simple moving average is $350.85. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last announced its quarterly earnings results 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 firm had revenue of $23.26 billion for the quarter. As a group, analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s payout ratio is 26.36%.

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.