Live Oak Investment Partners Takes $610,000 Position in FedEx Corporation $FDX

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

Other institutional investors and hedge funds have also modified their holdings of the company. Ferguson Wellman Capital Management Inc. raised its position in FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares during the period. OneAscent Financial Services LLC boosted its position in FedEx by 1.7% during the 4th quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after acquiring an additional 29 shares during the period. Whipplewood Advisors LLC boosted its position in FedEx by 9.9% during the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after acquiring an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its stake in FedEx by 11.9% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after acquiring an additional 30 shares in the last quarter. Finally, Arete Wealth Advisors LLC grew its stake in FedEx by 1.7% during the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after acquiring an additional 30 shares in the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 0.1%

FDX opened at $328.07 on Thursday. The company has a market capitalization of $77.65 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. 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 Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36. The business has a 50-day moving average of $319.53 and a 200-day moving average of $351.69.

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

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 annualized dividend and a 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 Analyst Weigh In

A number of brokerages have recently weighed in on FDX. Citigroup began coverage on FedEx in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. Jefferies Financial Group started coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective on the stock. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research note on Friday, June 26th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $350.54.

Insider Buying and Selling

In other news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction on 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 transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

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.