Proficio Capital Partners LLC Acquires New Position in FedEx Corporation $FDX

Proficio Capital Partners LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 3,438 shares of the shipping service provider’s stock, valued at approximately $1,076,000.

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

Insider Transactions at FedEx

In other FedEx news, Director Paul Walsh sold 5,042 shares of the stock in a transaction 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 completion of 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 legal filing with the SEC, which can be accessed through this link. Insiders own 0.65% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have issued reports on FDX shares. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research note on Wednesday, June 24th. Bank of America lifted their price target on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Evercore set a $165.00 price objective on shares of FedEx in a report on Friday, June 26th. Finally, Stephens upgraded shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $348.32.

FedEx Price Performance

NYSE:FDX traded down $6.03 during trading hours on Tuesday, hitting $316.49. The company’s stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. The business’s 50-day moving average is $319.29 and its two-hundred day moving average is $348.55. The company has a market capitalization of $74.90 billion, a PE ratio of 17.10, a PEG ratio of 1.71 and a beta of 1.32. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx Corporation has a 52-week low of $177.86 and a 52-week high of $345.36.

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

FedEx Dividend Announcement

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