Proficio Capital Partners LLC acquired a new position in shares of FedEx Co. (NYSE:FDX – Free Report) during the 1st quarter, according to its most recent 13F filing with the SEC. The fund acquired 96,127 shares of the shipping service provider’s stock, valued at approximately $96,000.
A number of other institutional investors also recently made changes to their positions in FDX. Horan Securities Inc. raised its holdings in FedEx by 85.7% in the first quarter. Horan Securities Inc. now owns 130 shares of the shipping service provider’s stock valued at $30,000 after acquiring an additional 60 shares in the last quarter. Sound Income Strategies LLC increased its position in shares of FedEx by 1,957.1% in the 1st quarter. Sound Income Strategies LLC now owns 144 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 137 shares during the last quarter. Core Alternative Capital raised its stake in shares of FedEx by 105.6% in the 1st quarter. Core Alternative Capital now owns 146 shares of the shipping service provider’s stock valued at $33,000 after purchasing an additional 75 shares in the last quarter. Lakewood Asset Management LLC bought a new position in shares of FedEx during the fourth quarter worth about $26,000. Finally, Global Wealth Management Investment Advisory Inc. acquired a new position in FedEx in the first quarter worth about $35,000. 73.39% of the stock is owned by institutional investors and hedge funds.
FedEx Price Performance
NYSE:FDX opened at $247.55 on Tuesday. FedEx Co. has a 52-week low of $141.92 and a 52-week high of $250.08. The company has a quick ratio of 1.33, a current ratio of 1.37 and a debt-to-equity ratio of 0.78. The firm has a market cap of $62.44 billion, a P/E ratio of 15.97, a PEG ratio of 1.19 and a beta of 1.35. The business’s 50-day moving average price is $228.84 and its 200 day moving average price is $212.59.
FedEx Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Monday, July 3rd. Investors of record on Monday, June 12th were issued a $1.26 dividend. This represents a $5.04 dividend on an annualized basis and a dividend yield of 2.04%. This is a boost from FedEx’s previous quarterly dividend of $1.15. The ex-dividend date of this dividend was Friday, June 9th. FedEx’s payout ratio is presently 32.52%.
Analyst Ratings Changes
A number of research analysts have commented on FDX shares. Stephens reaffirmed an “overweight” rating and set a $290.00 target price on shares of FedEx in a report on Thursday, April 6th. Melius began coverage on shares of FedEx in a research note on Monday, March 27th. They set a “hold” rating and a $240.00 target price for the company. Barclays raised their price target on shares of FedEx from $240.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, March 17th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FedEx from $240.00 to $282.00 in a research note on Thursday, May 18th. Finally, Sanford C. Bernstein lifted their target price on FedEx from $261.00 to $284.00 in a research note on Wednesday, June 21st. Ten analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $245.11.
Insider Transactions at FedEx
In related news, Director Amy B. Lane purchased 830 shares of the company’s stock in a transaction that occurred on Thursday, April 6th. The shares were purchased at an average price of $232.88 per share, with a total value of $193,290.40. Following the purchase, the director now owns 2,359 shares of the company’s stock, valued at approximately $549,363.92. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Amy B. Lane acquired 830 shares of the stock in a transaction on Thursday, April 6th. The shares were purchased at an average cost of $232.88 per share, for a total transaction of $193,290.40. Following the transaction, the director now owns 2,359 shares in the company, valued at approximately $549,363.92. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Stephen E. Gorman bought 1,080 shares of FedEx stock in a transaction dated Wednesday, April 12th. The stock was acquired at an average price of $230.75 per share, with a total value of $249,210.00. Following the acquisition, the director now directly owns 1,258 shares of the company’s stock, valued at $290,283.50. The disclosure for this purchase can be found here. Insiders have sold 176,557 shares of company stock valued at $41,318,655 over the last three months. Company insiders own 8.62% of the company’s stock.
FedEx Profile
FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. The company's FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; time-critical transportation services; and cross-border enablement, technology, and e-commerce transportation solutions.
Read More
- Five stocks we like better than FedEx
- Tesla Production Cranks Into High Gear, Shares Follow
- Ford Soars 30% YTD After Breaking Out: What’s Next?
- Acuity Brands Lights Up Opportunity In The Industrial Sector
- Overstock Looks Beyond Overbought After Bed Bath Re-Brand
- Tecnoglass Shines Bright As Analysts Bullish On Growth Potential
Receive News & Ratings for FedEx Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FedEx and related companies with MarketBeat.com's FREE daily email newsletter.
