NewEdge Advisors LLC Acquires 1,891 Shares of FedEx Corporation $FDX

NewEdge Advisors LLC increased its holdings in FedEx Corporation (NYSE:FDX) by 10.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 19,730 shares of the shipping service provider’s stock after buying an additional 1,891 shares during the quarter. NewEdge Advisors LLC’s holdings in FedEx were worth $7,027,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its position in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 207 shares during the period. Empowered Funds LLC grew its holdings in FedEx by 78.9% during the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after purchasing an additional 4,548 shares during the period. Sivia Capital Partners LLC purchased a new stake in FedEx in the second quarter worth about $586,000. Quantbot Technologies LP bought a new position in shares of FedEx in the second quarter worth about $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx during the 2nd quarter valued at about $456,000. 84.47% of the stock is currently owned by institutional investors.

FedEx Trading Up 1.9%

Shares of NYSE:FDX opened at $324.52 on Tuesday. The business’s 50-day moving average is $319.20 and its 200 day moving average is $350.71. 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 Corporation has a 1 year low of $176.00 and a 1 year high of $345.36. The firm has a market capitalization of $76.78 billion, a P/E ratio of 17.53, a P/E/G ratio of 1.64 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 return on equity of 16.49% and a net margin of 4.68%.The business had revenue of $23.26 billion during the quarter. On average, research analysts predict that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is currently 26.36%.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’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 transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.53% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the stock. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Rothschild & Co Redburn lowered their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. Barclays cut their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. Finally, BNP Paribas Exane decreased their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research note on Tuesday, June 2nd. One research 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, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

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.