4,392 Shares in FedEx Corporation $FDX Acquired by Foster & Motley Inc.

Foster & Motley Inc. bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 4,392 shares of the shipping service provider’s stock, valued at approximately $1,375,000.

A number of other institutional investors and hedge funds have also modified their holdings of FDX. BlackRock Inc. bought a new position in shares of FedEx during the second quarter valued at $6,508,103,000. State Street Corp increased its holdings in FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after buying an additional 382,848 shares in the last quarter. Franklin Resources Inc. raised its position in FedEx by 6.6% in the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after buying an additional 318,293 shares during the last quarter. Geode Capital Management LLC lifted its stake in FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock valued at $1,443,666,000 after acquiring an additional 45,818 shares during the period. Finally, Invesco Ltd. boosted its holdings in shares of FedEx by 3.1% during the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after acquiring an additional 108,426 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Analyst Ratings Changes

FDX has been the subject of a number of research analyst reports. Weiss Ratings upgraded shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Citigroup assumed coverage on shares of FedEx in a report on Wednesday, July 15th. They issued an “outperform” rating on the stock. BMO Capital Markets reaffirmed a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Wells Fargo & Company decreased their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Finally, JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a report on Friday, June 26th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Stock Performance

Shares of NYSE FDX opened at $328.07 on Thursday. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The firm has a market capitalization of $77.65 billion, a price-to-earnings ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a 50 day moving average of $319.53 and a 200 day moving average of $351.69.

FedEx (NYSE:FDX) last released 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 business had revenue of $23.26 billion for the quarter. On average, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s payout ratio is 26.36%.

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.