Veratis Advisors Inc. Invests $600,000 in FedEx Corporation $FDX

Veratis Advisors Inc. acquired a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 1,917 shares of the shipping service provider’s stock, valued at approximately $600,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC lifted its holdings in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $586,000. Quantbot Technologies LP acquired a new position in FedEx during the second quarter worth $186,000. Finally, Jump Financial LLC acquired a new position in FedEx in the second quarter valued at about $456,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on FDX shares. Stephens raised shares of FedEx to a “strong-buy” rating in a report on Wednesday, July 8th. Rothschild & Co Redburn reduced their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. JPMorgan Chase & Co. restated a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Evercore set a $165.00 price target on shares of FedEx in a report on Friday, June 26th. Finally, The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research report on Monday, June 1st. One investment 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 stock. According to data from MarketBeat, FedEx has an average rating of “Moderate Buy” and an average price target of $350.54.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction dated Tuesday, June 30th. The stock was 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 owned 16,359 shares in the company, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

FedEx Stock Up 2.8%

Shares of NYSE:FDX opened at $334.05 on Tuesday. The company has a fifty day moving average of $318.95 and a 200-day moving average of $351.51. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The company has a market capitalization of $79.06 billion, a PE ratio of 18.05, a price-to-earnings-growth ratio of 1.67 and a beta of 1.30. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business 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%. On average, equities analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be issued a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio is 26.36%.

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.