Sargent Investment Group LLC Takes Position in FedEx Corporation $FDX

Sargent Investment Group LLC purchased a new position in FedEx Corporation (NYSE:FDX) in the 4th quarter, HoldingsChannel reports. The fund purchased 6,229 shares of the shipping service provider’s stock, valued at approximately $1,799,000.

A number of other hedge funds also recently bought and sold shares of the company. OneAscent Financial Services LLC boosted its stake in FedEx by 1.7% in the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after purchasing an additional 29 shares in the last quarter. Arete Wealth Advisors LLC boosted its stake in FedEx by 1.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 30 shares in the last quarter. LRI Investments LLC boosted its stake in FedEx by 5.2% in the 4th quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock worth $183,000 after purchasing an additional 31 shares in the last quarter. Cary Street Partners Investment Advisory LLC boosted its stake in FedEx by 11.9% in the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 292 shares of the shipping service provider’s stock worth $84,000 after purchasing an additional 31 shares in the last quarter. Finally, Legacy Bridge LLC boosted its stake in FedEx by 33.0% in the 4th quarter. Legacy Bridge LLC now owns 133 shares of the shipping service provider’s stock worth $38,000 after purchasing an additional 33 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $337.65 on Monday. The stock has a market capitalization of $80.57 billion, a price-to-earnings ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 1-year low of $172.88 and a 1-year high of $342.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business’s fifty day moving average price is $371.84 and its 200-day moving average price is $343.17.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping the consensus estimate of $4.12 by $1.13. The company had revenue of $24 billion during the quarter, compared to analyst estimates of $23.44 billion. FedEx had a return on equity of 16.76% and a net margin of 4.88%.FedEx’s revenue was up 8.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $4.51 earnings per share. On average, equities analysts predict that FedEx Corporation will post 19.78 earnings per share for the current 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 paid a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 22nd. FedEx’s payout ratio is currently 30.87%.

Analyst Ratings Changes

FDX has been the subject of a number of recent analyst reports. BMO Capital Markets decreased their price objective on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating for the company in a report on Monday, June 1st. Susquehanna lifted their target price on FedEx from $410.00 to $455.00 and gave the stock a “positive” rating in a report on Friday, March 20th. Raymond James Financial started coverage on FedEx in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $180.00 price target for the company. Wall Street Zen raised FedEx from a “buy” rating to a “strong-buy” rating in a report on Saturday, June 6th. Finally, Sanford C. Bernstein increased their price objective on FedEx from $457.00 to $470.00 and gave the company an “outperform” rating in a research report on Thursday, April 9th. Eighteen equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $371.45.

Insider Buying and Selling at FedEx

In other news, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total value of $2,138,355.00. Following the transaction, the director owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Kawal Preet sold 4,900 shares of the firm’s stock in a transaction that occurred on Tuesday, April 14th. The stock was sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the completion of the transaction, the executive vice president directly owned 10,953 shares in the company, valued at approximately $4,029,499.17. The trade was a 30.91% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,104 shares of company stock worth $17,599,006 over the last 90 days. 0.53% of the stock is owned by company insiders.

FedEx Company 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.