Entropy Technologies LP Acquires 47,895 Shares of FedEx Corporation $FDX

Entropy Technologies LP grew its holdings in FedEx Corporation (NYSE:FDX) by 2,864.5% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 49,567 shares of the shipping service provider’s stock after acquiring an additional 47,895 shares during the period. FedEx comprises 0.8% of Entropy Technologies LP’s holdings, making the stock its 6th biggest position. Entropy Technologies LP’s holdings in FedEx were worth $17,655,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hollencrest Capital Management bought a new stake in FedEx in the 1st quarter valued at $25,000. Bayban bought a new position in FedEx during the first quarter worth $26,000. Cedar Mountain Advisors LLC increased its holdings 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 last quarter. EFG International AG acquired a new position in shares of FedEx in the fourth quarter valued at $27,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter valued at about $29,000. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently commented on FDX shares. Wells Fargo & Company reduced their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Citizens Jmp initiated coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target on the stock. Bank of America boosted their price objective on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. UBS Group lowered their target price on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Jefferies Financial Group started coverage on FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target for the company. 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 assigned a Sell rating to the company. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

FedEx Stock Down 0.3%

Shares of NYSE FDX opened at $314.77 on Friday. The stock has a market capitalization of $74.47 billion, a P/E ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. The stock’s fifty day moving average is $335.98 and its 200 day moving average is $350.05. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $345.36. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The business 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%. Sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

About FedEx

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.