Man Group plc Invests $19.13 Million in FedEx Corporation $FDX

Man Group plc acquired a new position in FedEx Corporation (NYSE:FDX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 61,088 shares of the shipping service provider’s stock, valued at approximately $19,128,000.

Other large investors also recently added to or reduced their stakes in the company. Hollencrest Capital Management bought a new position in FedEx in the first quarter worth approximately $25,000. Bayban bought a new stake in shares of FedEx during the 1st quarter valued at $26,000. Solstein Capital LLC bought a new stake in shares of FedEx during the 2nd quarter valued at $27,000. Cedar Mountain Advisors LLC increased its stake in shares of FedEx by 77.4% in the 1st quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after purchasing an additional 41 shares in the last quarter. Finally, EFG International AG bought a new position in FedEx in the 4th quarter worth $27,000. 84.47% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, valued at $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.65% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FDX. Citigroup assumed coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Stifel Nicolaus lowered their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research report on Wednesday, June 24th. Jefferies Financial Group assumed coverage on FedEx in a research note on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. Finally, Bank of America increased their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. One 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. Based on data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 1.4%

FedEx stock opened at $331.45 on Friday. FedEx Corporation has a 1 year low of $177.05 and a 1 year high of $345.36. The firm’s 50 day moving average price is $319.23 and its 200-day moving average price is $350.85. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market cap of $78.44 billion, a P/E ratio of 17.91, a PEG ratio of 1.73 and a beta of 1.30.

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

FedEx Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders of record on Monday, September 14th will be issued a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio is 26.36%.

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.