Dockside LLC Invests $1.58 Million in FedEx Corporation $FDX

Dockside LLC bought a new position in FedEx Corporation (NYSE:FDX) during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 5,482 shares of the shipping service provider’s stock, valued at approximately $1,584,000.

Several other large investors have also recently made changes to their positions in the company. OneAscent Financial Services LLC increased its holdings in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after purchasing an additional 29 shares during the last quarter. Arete Wealth Advisors LLC increased its holdings in shares of FedEx by 1.7% in the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 30 shares during the last quarter. LRI Investments LLC increased its holdings in shares of FedEx by 5.2% in the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock worth $183,000 after purchasing an additional 31 shares during the last quarter. Cary Street Partners Investment Advisory LLC increased its holdings in shares of FedEx by 11.9% in the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock worth $84,000 after purchasing an additional 31 shares during the last quarter. Finally, Legacy Bridge LLC increased its holdings in shares of FedEx by 33.0% in the fourth quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock worth $38,000 after purchasing an additional 33 shares during the last quarter. 84.47% of the stock is owned by institutional investors.

FedEx Trading Down 0.1%

FDX opened at $337.65 on Friday. The firm has a market cap of $80.57 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 12 month low of $172.88 and a 12 month high of $342.81. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a 50-day moving average of $371.84 and a 200 day moving average of $342.64.

FedEx (NYSE:FDX) last released its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue was up 8.3% on a year-over-year basis. During the same quarter last year, the business posted $4.51 earnings per share. As a group, research analysts forecast that FedEx Corporation will post 19.78 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd will be paid a $1.22 dividend. The ex-dividend date of this dividend is Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.4%. FedEx’s dividend payout ratio (DPR) is presently 30.87%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the company. Zacks Research cut FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Morgan Stanley lifted their price target on FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research report on Friday, March 20th. Susquehanna lifted their price target on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a research report on Friday, March 20th. JPMorgan Chase & Co. upgraded FedEx from a “neutral” rating to an “overweight” rating and lifted their price target for the stock from $432.00 to $460.00 in a research report on Wednesday, May 27th. Finally, Jefferies Financial Group lifted their price target on FedEx from $425.00 to $450.00 and gave the stock a “buy” rating in a research report on Tuesday, March 3rd. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $371.45.

Insider Activity

In other FedEx news, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total value of $1,802,661.00. Following the completion of the sale, the executive vice president owned 10,953 shares of the company’s stock, valued at $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Tracy B. Brightman sold 16,959 shares of the firm’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the completion of the sale, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 48,104 shares of company stock worth $17,599,006 in the last ninety days. 0.53% of the stock is currently owned by company insiders.

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.