Sargent Investment Group LLC Takes $1.80 Million Position in FedEx Corporation $FDX

Sargent Investment Group LLC bought a new position in FedEx Corporation (NYSE:FDX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 6,229 shares of the shipping service provider’s stock, valued at approximately $1,799,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ulland Investment Advisors LLC bought a new stake in FedEx in the 4th quarter worth $29,000. Tucker Asset Management LLC purchased a new position in shares of FedEx in the fourth quarter valued at about $29,000. Wilkerson Advisory Group LLC bought a new position in shares of FedEx during the fourth quarter valued at about $29,000. ORG Partners LLC boosted its holdings in shares of FedEx by 50.0% during the fourth quarter. ORG Partners LLC now owns 105 shares of the shipping service provider’s stock worth $30,000 after purchasing an additional 35 shares during the period. Finally, Camelot Portfolios LLC purchased a new stake in shares of FedEx during the fourth quarter worth about $31,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of FedEx stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the completion of the transaction, the executive vice president directly owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This trade represents a 51.31% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. The trade was a 36.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,104 shares of company stock valued at $17,599,006. Insiders own 0.53% of the company’s stock.

FedEx Trading Down 0.2%

FDX opened at $337.65 on Monday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $342.81. The stock has a market cap of $80.57 billion, a PE ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28. The business has a 50 day moving average of $371.84 and a 200-day moving average of $343.17.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.The firm’s revenue for the quarter was up 8.3% on a year-over-year basis. During the same period in the prior year, the firm earned $4.51 earnings per share. Equities research analysts predict that FedEx Corporation will post 19.78 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 7th. Investors of record on Monday, June 22nd will be paid a $1.22 dividend. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is presently 30.87%.

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research analyst reports. Zacks Research downgraded FedEx from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 18th. Citigroup assumed coverage on FedEx in a research note on Thursday, May 21st. They set a “buy” rating and a $443.00 target price on the stock. Wells Fargo & Company upgraded FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Wolfe Research dropped their price target on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research note on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Eighteen research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $371.45.

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.