Tiemann Investment Advisors LLC Acquires Shares of 1,756 FedEx Corporation $FDX

Tiemann Investment Advisors LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,756 shares of the shipping service provider’s stock, valued at approximately $550,000.

Several other large investors have also made changes to their positions in the business. Ferguson Wellman Capital Management Inc. lifted its position in shares of FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares in the last quarter. OneAscent Financial Services LLC increased its holdings in FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after acquiring an additional 29 shares in the last quarter. Whipplewood Advisors LLC increased its holdings in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after acquiring an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in FedEx by 11.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after acquiring an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC raised its position in FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 30 shares during the period. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

NYSE:FDX opened at $331.86 on Tuesday. The company has a market cap of $78.51 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 1.30. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36. The company’s 50-day moving average price is $319.43 and its 200-day moving average price is $351.54. 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 (NYSE:FDX) last announced its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. The company 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%. On average, sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders 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 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio is 26.36%.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Raymond James Financial dropped their target price on shares of FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 24th. The Goldman Sachs Group reduced their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Stephens raised shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. Finally, Sanford C. Bernstein set a $397.00 price objective on FedEx in a research note on Wednesday, June 24th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat, FedEx currently has an average rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.53% of the company’s stock.

FedEx Company 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.