Silvant Capital Management LLC Makes New Investment in FedEx Corporation $FDX

Silvant Capital Management LLC bought a new stake in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,385 shares of the shipping service provider’s stock, valued at approximately $2,312,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Oxford Financial Group LTD. LLC bought a new position in shares of FedEx during the second quarter worth about $202,000. Advisors Capital Management LLC acquired a new position in FedEx during the 2nd quarter valued at about $741,000. PCM Encore LLC bought a new position in FedEx in the 2nd quarter worth about $469,000. Vise Technologies Inc. bought a new position in FedEx in the 2nd quarter worth about $3,921,000. Finally, OVERSEA CHINESE BANKING Corp Ltd acquired a new stake in shares of FedEx in the second quarter valued at approximately $475,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred 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 directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.53% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of recent analyst reports. Bank of America lifted their price target on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Sanford C. Bernstein set a $397.00 target price on FedEx in a research report on Wednesday, June 24th. Stifel Nicolaus cut their target price on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Weiss Ratings upgraded FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $350.54.

FedEx Price Performance

NYSE:FDX opened at $326.15 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $319.29 and its 200 day moving average price is $351.72. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The firm has a market cap of $77.19 billion, a P/E ratio of 17.62, a PEG ratio of 1.69 and a beta of 1.30.

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

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s dividend payout ratio 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.