Capstone Investment Advisors LLC Buys Shares of 8,258 FedEx Corporation $FDX

Capstone Investment Advisors LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 8,258 shares of the shipping service provider’s stock, valued at approximately $2,586,000.

Other hedge funds have also recently modified their holdings of the company. Hollencrest Capital Management bought a new position in FedEx in the 1st quarter worth $25,000. Bayban bought a new stake in FedEx during the first quarter valued at about $26,000. Solstein Capital LLC bought a new stake in FedEx during the second quarter valued at about $27,000. EFG International AG purchased a new stake in FedEx in the fourth quarter worth about $27,000. Finally, Wealth Watch Advisors INC purchased a new stake in FedEx in the third quarter worth about $28,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $331.45 on Friday. 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 1-year low of $177.05 and a 1-year high of $345.36. The business has a 50 day simple moving average of $319.23 and a two-hundred day simple moving average of $350.85. The stock has a market capitalization of $78.44 billion, a PE ratio of 17.91, a P/E/G ratio of 1.73 and a beta of 1.30.

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

FedEx Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a dividend of $1.22 per share. 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 is presently 26.36%.

Insider Buying and Selling

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 completion of the transaction, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. 0.65% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on the company. Seaport Research Partners started coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating on the stock. BNP Paribas Exane reduced their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a research note on Saturday, August 8th. The Goldman Sachs Group lowered their price target on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Finally, Citizens Jmp started coverage on shares of FedEx in a research report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price target for the company. 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 given a Sell rating to the company’s stock. According to MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and an average price target of $350.54.

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.