1,575 Shares in FedEx Corporation $FDX Bought by Pointe Capital Management LLC

Pointe Capital Management LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 1,575 shares of the shipping service provider’s stock, valued at approximately $493,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Hollencrest Capital Management bought a new position in shares of FedEx during the 1st quarter valued at about $25,000. Bayban bought a new stake in FedEx during the 1st quarter worth approximately $26,000. Solstein Capital LLC bought a new stake in FedEx during the 2nd quarter worth approximately $27,000. Cedar Mountain Advisors LLC raised its holdings in FedEx by 77.4% during the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after buying an additional 41 shares during the period. Finally, EFG International AG acquired a new stake in FedEx during the 4th quarter worth approximately $27,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FDX shares. The Goldman Sachs Group cut their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. TD Cowen dropped their price objective on shares of FedEx from $426.00 to $354.00 in a report on Wednesday, June 24th. Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, August 18th. HSBC reduced their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Finally, Bank of America increased their target price on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. One investment 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 0.2%

NYSE:FDX opened at $333.54 on Wednesday. FedEx Corporation has a twelve month low of $177.05 and a twelve month high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business has a 50 day moving average price of $318.91 and a two-hundred day moving average price of $351.31. The company has a market cap of $78.94 billion, a P/E ratio of 18.02, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30.

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

FedEx Announces Dividend

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

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.65% of the company’s stock.

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.