Tiemann Investment Advisors LLC Takes Position in FedEx Corporation $FDX

Tiemann Investment Advisors LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, Holdings Channel.com reports. The fund acquired 1,756 shares of the shipping service provider’s stock, valued at approximately $550,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Citizens Financial Group Inc. RI purchased a new position in FedEx during the second quarter worth about $1,614,000. Texas Capital Bank Wealth Management Services Inc purchased a new stake in shares of FedEx in the 2nd quarter valued at approximately $340,000. Pavion Blue Capital LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at approximately $2,691,000. UNIVEST FINANCIAL Corp acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $9,100,000. Finally, K.J. Harrison & Partners Inc acquired a new stake in shares of FedEx during the 2nd quarter worth approximately $946,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction 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 directly owned 16,359 shares of the company’s stock, 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 filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently commented on FDX. Citizens Jmp assumed coverage on FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective on the stock. Wells Fargo & Company cut their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Citigroup assumed coverage on FedEx in a research report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Wall Street Zen raised FedEx to a “hold” rating in a research note on Saturday, August 8th. Finally, Jefferies Financial Group started coverage on FedEx in a report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Stock Performance

Shares of FDX stock opened at $331.86 on Tuesday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The firm has a market cap of $78.51 billion, a P/E ratio of 17.93, a P/E/G ratio of 1.72 and a beta of 1.30. The firm’s 50 day moving average price is $319.43 and its 200-day moving average price is $351.54. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36.

FedEx (NYSE:FDX) last posted its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The firm 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%. As a group, equities research analysts predict that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given 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 was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 26.36%.

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.