Palogic Value Management L.P. Invests $1.09 Million in FedEx Corporation $FDX

Palogic Value Management L.P. purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,475 shares of the shipping service provider’s stock, valued at approximately $1,088,000.

A number of other hedge funds have also bought and sold shares of FDX. Perennial Investment Advisors LLC acquired a new position in shares of FedEx in the 2nd quarter worth approximately $396,000. Pingora Partners LLC bought a new stake in shares of FedEx in the 2nd quarter valued at approximately $157,000. Ausdal Financial Partners Inc. acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $387,000. Bank of America Corp DE acquired a new stake in shares of FedEx during the 2nd quarter valued at approximately $579,171,000. Finally, Freestone Grove Partners LP bought a new position in FedEx during the second quarter worth $22,258,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have weighed in on FDX shares. Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. Bank of America lifted their price target on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a report on Wednesday, June 24th. Truist Financial lowered their price objective on shares of FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. Stifel Nicolaus dropped their price objective on shares of FedEx from $442.00 to $326.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Finally, Citizens Jmp began coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 target price on the stock. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction on 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 approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.65% of the company’s stock.

FedEx Price Performance

NYSE FDX opened at $336.52 on Thursday. The company has a 50-day moving average price of $319.13 and a two-hundred day moving average price of $351.11. 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 $79.64 billion, a price-to-earnings ratio of 18.18, a price-to-earnings-growth 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 quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. The company 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%. Analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 1st. Shareholders 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 annualized dividend and a 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.