Kintayl Capital LP Invests $485,000 in FedEx Corporation $FDX

Kintayl Capital LP purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 1,549 shares of the shipping service provider’s stock, valued at approximately $485,000.

Other hedge funds have also recently bought and sold shares of the company. Hollencrest Capital Management purchased a new stake in FedEx during the first quarter worth $25,000. Bayban purchased a new position in shares of FedEx in the first quarter valued at $26,000. Solstein Capital LLC purchased a new position in shares of FedEx in the second quarter valued at $27,000. EFG International AG acquired a new position in shares of FedEx during the 4th quarter worth $27,000. Finally, Wealth Watch Advisors INC acquired a new position in shares of FedEx during the 3rd quarter worth $28,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FDX has been the topic of a number of research reports. Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, August 18th. Citigroup assumed coverage on shares of FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. Seaport Research Partners started coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating on the stock. Wall Street Zen raised shares of FedEx to a “hold” rating in a research note on Saturday, August 8th. Finally, Wells Fargo & Company cut their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

FedEx Trading Down 0.2%

FedEx stock opened at $333.54 on Wednesday. The stock has a 50-day moving average price of $318.91 and a 200 day moving average price of $351.31. FedEx Corporation has a 52 week low of $177.05 and a 52 week high of $345.36. The stock has a market cap of $78.94 billion, a PE ratio of 18.02, a P/E/G ratio of 1.72 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.

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

FedEx Dividend Announcement

The company 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 dividend of $1.22 per share. The ex-dividend date 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 Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx stock in a transaction that occurred 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

FedEx 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.