Plato Investment Management Ltd Makes New Investment in FedEx Corporation $FDX

Plato Investment Management Ltd acquired a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 3,007 shares of the shipping service provider’s stock, valued at approximately $936,000.

Other institutional investors have also modified their holdings of the company. Hollencrest Capital Management acquired a new position in shares of FedEx during the 1st quarter worth about $25,000. Bayban acquired a new stake in FedEx in the 1st quarter worth about $26,000. EFG International AG acquired a new stake in FedEx in the 4th quarter worth about $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx during the 3rd quarter worth approximately $28,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx during the fourth quarter valued at approximately $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Insider Activity

In other news, Director Paul S. Walsh sold 5,042 shares of FedEx 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 transaction, the director owned 16,359 shares in the company, valued at $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 available at this hyperlink. 0.53% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the company. Raymond James Financial decreased their target price on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a research report on Wednesday, June 24th. Citigroup initiated coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating for the company. HSBC reduced their price objective on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. Wells Fargo & Company lowered their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Finally, Weiss Ratings lowered shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

FedEx Trading Down 0.9%

Shares of FedEx stock opened at $328.43 on Wednesday. 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’s 50 day simple moving average is $319.36 and its 200-day simple moving average is $351.63. The stock has a market cap of $77.70 billion, a P/E ratio of 17.74, a P/E/G 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.

FedEx (NYSE:FDX) last posted its quarterly 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 during the quarter. Analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

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

About FedEx

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.