Kelman Lazarov Inc. Takes $979,000 Position in FedEx Corporation $FDX

Kelman Lazarov Inc. bought a new position in FedEx Corporation (NYSE:FDX) during the 2nd quarter, Holdings Channel reports. The fund bought 3,126 shares of the shipping service provider’s stock, valued at approximately $979,000.

Other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its holdings in 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 buying an additional 207 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of FedEx during the 2nd quarter worth approximately $586,000. Quantbot Technologies LP bought a new position in shares of FedEx during the 2nd quarter valued at approximately $186,000. Finally, Jump Financial LLC bought a new position in shares of FedEx during the 2nd quarter valued at approximately $456,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 0.1%

FDX stock opened at $328.07 on Thursday. The company has a market capitalization of $77.65 billion, a PE ratio of 17.72, a P/E/G ratio of 1.69 and a beta of 1.30. FedEx Corporation has a 12 month low of $177.05 and a 12 month high of $345.36. The firm’s 50-day moving average is $319.53 and its 200 day moving average is $351.69. 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 announced 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 net margin of 4.68% and a return on equity of 16.49%. On average, research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current 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 paid a dividend of $1.22 per share. 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%.

Wall Street Analysts Forecast Growth

FDX has been the topic of several research reports. Citigroup initiated coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Citizens Jmp started coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective for the company. Barclays dropped their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Truist Financial reduced their target price on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. Finally, Weiss Ratings upgraded shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, FedEx has an average rating of “Moderate Buy” and an average price target of $350.54.

Insider Buying and Selling at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’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 value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.53% of the company’s stock.

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.