Dockside LLC Takes Position in FedEx Corporation $FDX

Dockside LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 5,482 shares of the shipping service provider’s stock, valued at approximately $1,584,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Ariadne Wealth Management LP raised its stake in shares of FedEx by 8.1% during the fourth quarter. Ariadne Wealth Management LP now owns 2,598 shares of the shipping service provider’s stock valued at $750,000 after acquiring an additional 195 shares in the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $18,920,000. Atlas Capital Advisors Inc. bought a new stake in shares of FedEx during the fourth quarter valued at approximately $119,000. Aptus Capital Advisors LLC raised its stake in shares of FedEx by 151.3% during the fourth quarter. Aptus Capital Advisors LLC now owns 20,884 shares of the shipping service provider’s stock valued at $6,033,000 after acquiring an additional 12,575 shares in the last quarter. Finally, Altrafin AG bought a new stake in shares of FedEx during the fourth quarter valued at approximately $402,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX stock opened at $337.65 on Friday. The firm has a market cap of $80.57 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28. The company’s 50 day moving average is $371.84 and its 200 day moving average is $342.64. 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.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion for the quarter, compared to analyst estimates of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. FedEx’s revenue was up 8.3% compared to the same quarter last year. During the same period last year, the company posted $4.51 earnings per share. On average, sell-side analysts anticipate that FedEx Corporation will post 19.78 EPS for the current fiscal year.

FedEx Cuts Dividend

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

Insider Activity

In other FedEx news, EVP Tracy B. Brightman sold 16,959 shares of FedEx stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $363.47, for a total value of $6,164,087.73. Following the transaction, the executive vice president directly owned 11,052 shares of the company’s stock, valued at approximately $4,017,070.44. The trade was a 60.54% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of FedEx stock in a transaction on 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 completion of the transaction, the director directly owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 48,104 shares of company stock valued at $17,599,006 over the last three months. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of FedEx from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 18th. Barclays decreased their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Friday. Argus lifted their price target on shares of FedEx from $350.00 to $400.00 and gave the company a “buy” rating in a research note on Monday, April 6th. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Finally, Bank of America cut their price objective on shares of FedEx from $440.00 to $376.00 and set a “buy” rating on the stock in a report on Tuesday, June 2nd. 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 company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.