Dayah Capital LLC Purchases Shares of 4,739 FedEx Corporation $FDX

Dayah Capital LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 4,739 shares of the shipping service provider’s stock, valued at approximately $1,484,000. FedEx comprises about 0.5% of Dayah Capital LLC’s portfolio, making the stock its 16th largest holding.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. BlackRock Inc. purchased a new position in FedEx in the 2nd quarter worth about $6,508,103,000. State Street Corp lifted its stake in FedEx by 4.2% during the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares in the last quarter. Primecap Management Co. CA acquired a new position in shares of FedEx in the second quarter worth about $2,554,138,000. Franklin Resources Inc. boosted its holdings in shares of FedEx by 6.6% in the fourth 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 period. Finally, Geode Capital Management LLC increased its position in shares of FedEx by 0.9% in the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after acquiring an additional 45,818 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on 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 transaction, the director owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FDX. Evercore set a $165.00 price target on shares of FedEx in a research report on Friday, June 26th. Rothschild & Co Redburn cut their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. Sanford C. Bernstein set a $397.00 target price on FedEx in a report on Wednesday, June 24th. The Goldman Sachs Group decreased their target price on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. Finally, JPMorgan Chase & Co. reiterated 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 stock. Based on data from MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Price Performance

FDX opened at $333.54 on Wednesday. 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 Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. 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 stock has a fifty day moving average price of $318.91 and a 200 day moving average price of $351.31.

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

FedEx Announces Dividend

The company 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 $1.22 dividend. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s payout ratio is presently 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.