Proficio Capital Partners LLC Invests $1.08 Million in FedEx Corporation $FDX

Proficio Capital Partners LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,438 shares of the shipping service provider’s stock, valued at approximately $1,076,000.

Several other hedge funds also recently added to or reduced their stakes in FDX. Ferguson Wellman Capital Management Inc. raised its stake in shares of FedEx by 3.2% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after buying an additional 26 shares during the last quarter. OneAscent Financial Services LLC boosted its stake in shares of FedEx by 1.7% in the fourth quarter. OneAscent Financial Services LLC now owns 1,699 shares of the shipping service provider’s stock worth $491,000 after buying an additional 29 shares during the last quarter. Whipplewood Advisors LLC boosted its stake in shares of FedEx by 9.9% in the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after buying an additional 30 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in FedEx by 11.9% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock worth $101,000 after acquiring an additional 30 shares during the period. Finally, Arete Wealth Advisors LLC grew its holdings in FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock worth $514,000 after acquiring an additional 30 shares during the period. 84.47% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on FDX. BNP Paribas Exane decreased their price target on FedEx from $335.00 to $269.76 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Citizens Jmp started coverage on shares of FedEx in a research note on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, August 18th. Sanford C. Bernstein set a $397.00 target price on shares of FedEx in a research note on Wednesday, June 24th. Finally, Rothschild & Co Redburn lowered their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Stock Performance

NYSE FDX opened at $324.12 on Wednesday. The stock has a market capitalization of $76.71 billion, a price-to-earnings ratio of 17.51, a PEG ratio of 1.68 and a beta of 1.32. The stock has a 50-day moving average of $319.41 and a 200 day moving average of $350.02. 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 Corporation has a twelve month low of $177.05 and a twelve month high of $345.36.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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%. Sell-side analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a $1.22 dividend. The ex-dividend date of this dividend 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 currently 26.36%.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction 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 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.65% of the company’s stock.

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.