Invst LLC Buys Shares of 3,441 FedEx Corporation $FDX

Invst LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,441 shares of the shipping service provider’s stock, valued at approximately $1,077,000.

A number of other hedge funds have also made changes to their positions in FDX. BlackRock Inc. bought a new position in shares of FedEx during the second quarter worth about $6,508,103,000. Primecap Management Co. CA acquired a new position in FedEx in the second quarter worth about $2,554,138,000. Norges Bank bought a new stake in FedEx in the fourth quarter valued at about $859,085,000. Boston Partners acquired a new stake in FedEx during the third quarter valued at approximately $468,195,000. Finally, AQR Capital Management LLC raised its stake in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after buying an additional 1,718,278 shares in the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Trading Down 0.2%

NYSE:FDX opened at $333.54 on Wednesday. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The business has a fifty day moving average of $318.91 and a 200-day moving average of $351.31. 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 stock has a market cap of $78.94 billion, a price-to-earnings ratio of 18.02, a PEG ratio of 1.72 and a beta of 1.30.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) 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%. Equities analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Stockholders of record on Monday, September 14th will be issued a $1.22 dividend. The ex-dividend date is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Analyst Ratings Changes

Several brokerages have recently commented on FDX. BNP Paribas Exane decreased their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Truist Financial reduced their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research note on Thursday, June 25th. Wall Street Zen raised shares of FedEx to a “hold” rating in a report on Saturday, August 8th. The Goldman Sachs Group lowered their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, TD Cowen dropped their price objective on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred 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 trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.65% 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.