NEOS Investment Management LLC Increases Stake in FedEx Corporation $FDX

NEOS Investment Management LLC lifted its stake in FedEx Corporation (NYSE:FDX) by 13.0% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 35,017 shares of the shipping service provider’s stock after purchasing an additional 4,020 shares during the quarter. NEOS Investment Management LLC’s holdings in FedEx were worth $10,965,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new position in FedEx during the 1st quarter worth approximately $25,000. Bayban purchased a new position in shares of FedEx during the 1st quarter valued at approximately $26,000. Solstein Capital LLC purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $27,000. Cedar Mountain Advisors LLC increased its holdings in shares of FedEx by 77.4% during the 1st 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 in the last quarter. Finally, EFG International AG purchased a new position in shares of FedEx during the 4th quarter valued at approximately $27,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In other news, Director Paul Walsh sold 5,042 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was 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 in the company, valued at $5,309,477.04. This 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 is available through this link. 0.65% of the stock is owned by company insiders.

FedEx Stock Performance

Shares of FDX stock traded down $6.03 during trading hours on Tuesday, hitting $316.49. The stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. The firm has a market capitalization of $74.90 billion, a PE ratio of 17.10, a PEG ratio of 1.71 and a beta of 1.32. FedEx Corporation has a twelve month low of $177.86 and a twelve month high of $345.36. The stock’s 50 day moving average is $319.29 and its 200 day moving average is $348.55. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

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 return on equity of 16.49% and a net margin of 4.68%. As a group, research analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio is presently 26.36%.

Analysts Set New Price Targets

A number of research firms recently issued reports on FDX. Wall Street Zen raised shares of FedEx to a “hold” rating in a research note on Saturday, August 8th. TD Cowen reduced their price target on FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target on the stock. BMO Capital Markets reiterated a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. Finally, Evercore set a $165.00 price objective on shares of FedEx in a report on Friday, June 26th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $348.32.

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.