Live Oak Investment Partners Makes New Investment in FedEx Corporation $FDX

Live Oak Investment Partners purchased a new position in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,948 shares of the shipping service provider’s stock, valued at approximately $610,000.

Other large investors also recently modified their holdings of the company. Sivia Capital Partners LLC acquired a new stake in FedEx in the second quarter worth approximately $586,000. Canada Post Corp Registered Pension Plan increased its position in shares of 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 valued at $1,962,000 after purchasing an additional 3,138 shares during the period. North Dakota State Investment Board bought a new stake in shares of FedEx in the 4th quarter worth $2,122,000. OMERS ADMINISTRATION Corp raised its stake in shares of FedEx by 104.9% in the 1st quarter. OMERS ADMINISTRATION Corp now owns 17,319 shares of the shipping service provider’s stock worth $6,169,000 after buying an additional 8,868 shares in the last quarter. Finally, First Nebraska Trust Co acquired a new stake in shares of FedEx in the first quarter valued at $10,675,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of NYSE FDX opened at $328.07 on Thursday. 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 stock has a market capitalization of $77.65 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.69 and a beta of 1.30. The stock’s fifty day simple moving average is $319.53 and its 200 day simple moving average is $351.69. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%.The company had revenue of $23.26 billion for the quarter. As a group, sell-side analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

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

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. Deutsche Bank Aktiengesellschaft cut FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Barclays cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Sanford C. Bernstein set a $397.00 price objective on shares of FedEx in a research report on Wednesday, June 24th. BNP Paribas Exane lowered their price objective on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Finally, Jefferies Financial Group began coverage on shares of FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have given a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s 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 completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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.