Global Retirement Partners LLC Takes $1.51 Million Position in FedEx Corporation $FDX

Global Retirement Partners LLC purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,832 shares of the shipping service provider’s stock, valued at approximately $1,513,000.

A number of other large investors also recently modified their holdings of FDX. Sivia Capital Partners LLC bought a new position in shares of FedEx in the 2nd quarter worth about $586,000. Canada Post Corp Registered Pension Plan increased its stake in shares of FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock valued at $1,962,000 after purchasing an additional 3,138 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after purchasing an additional 6,864 shares in the last quarter. North Dakota State Investment Board bought a new stake in shares of FedEx in the 4th quarter worth approximately $2,122,000. Finally, OMERS ADMINISTRATION Corp grew its stake in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after buying an additional 8,868 shares during the last quarter. 84.47% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently owned by insiders.

Analyst Ratings Changes

FDX has been the topic of several analyst reports. TD Cowen dropped their target price on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Stephens raised FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. BNP Paribas Exane cut their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. Citizens Jmp started coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. Finally, Seaport Research Partners initiated coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Trading Down 0.8%

NYSE:FDX opened at $331.86 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The company has a market cap of $78.51 billion, a PE ratio of 17.93, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a 50 day simple moving average of $319.43 and a two-hundred day simple moving average of $351.54.

FedEx (NYSE:FDX) last released 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 return on equity of 16.49% and a net margin of 4.68%.The firm had revenue of $23.26 billion for the quarter. Research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio (DPR) is presently 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.