Western Wealth Management LLC Increases Stock Position in FedEx Corporation $FDX

Western Wealth Management LLC raised its stake in shares of FedEx Corporation (NYSE:FDX) by 186.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,840 shares of the shipping service provider’s stock after purchasing an additional 3,148 shares during the quarter. Western Wealth Management LLC’s holdings in FedEx were worth $1,724,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of FDX. Hollencrest Capital Management bought a new stake in shares of FedEx during the 1st quarter worth $25,000. Bayban purchased a new position in FedEx in the first quarter worth $26,000. EFG International AG bought a new position in FedEx in the fourth quarter valued at $27,000. Wealth Watch Advisors INC bought a new position in FedEx in the third quarter valued at $28,000. Finally, Tucker Asset Management LLC purchased a new stake in FedEx during the fourth quarter valued at about $29,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction 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. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Seaport Research Partners started coverage on FedEx in a research note on Wednesday, May 27th. They set a “buy” rating for the company. Barclays decreased their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. UBS Group dropped their target price on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. HSBC cut their target price on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Finally, The Goldman Sachs Group reduced their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 0.4%

NYSE FDX opened at $307.41 on Friday. FedEx Corporation has a 1-year low of $172.88 and a 1-year 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. The stock has a 50-day moving average of $328.67 and a 200-day moving average of $350.16. The firm has a market cap of $72.73 billion, a PE ratio of 16.61, a price-to-earnings-growth ratio of 1.58 and a beta of 1.29.

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

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. 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%.

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.