Wealthfront Advisers LLC Acquires Shares of 39,565 FedEx Corporation $FDX

Wealthfront Advisers LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the second quarter, Holdings Channel.com reports. The fund purchased 39,565 shares of the shipping service provider’s stock, valued at approximately $12,389,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Sivia Capital Partners LLC purchased a new position in FedEx in the second quarter valued at approximately $586,000. Canada Post Corp Registered Pension Plan lifted its holdings in FedEx by 85.9% during the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after purchasing an additional 3,138 shares in the last quarter. North Dakota State Investment Board bought a new position in shares of FedEx in the fourth quarter valued at approximately $2,122,000. OMERS ADMINISTRATION Corp boosted its holdings in FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock valued at $6,169,000 after purchasing an additional 8,868 shares during the period. Finally, First Nebraska Trust Co bought a new stake in FedEx during the first quarter valued at $10,675,000. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated 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 sale, the director directly owned 16,359 shares of the company’s stock, 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 this hyperlink. 0.53% of the stock is currently owned by insiders.

FedEx Stock Performance

FedEx stock opened at $328.43 on Wednesday. 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 company has a market capitalization of $77.70 billion, a P/E ratio of 17.74, a PEG ratio of 1.72 and a beta of 1.30. The stock’s 50 day moving average is $319.36 and its 200 day moving average is $351.63. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36.

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 company 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%. On average, equities 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 declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given 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 was Monday, June 22nd. FedEx’s payout ratio is currently 26.36%.

Analysts Set New Price Targets

Several research analysts recently weighed in on FDX shares. Stifel Nicolaus decreased their price objective on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. BMO Capital Markets reiterated a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Bank of America upped their price objective on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Finally, Sanford C. Bernstein set a $397.00 price target on FedEx in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $350.54.

About FedEx

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.