Fort Point Capital Partners LLC Invests $523,000 in FedEx Corporation $FDX

Fort Point Capital Partners LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 1,670 shares of the shipping service provider’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also modified their holdings of FDX. Brighton Jones LLC grew its holdings in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after buying an additional 207 shares in the last quarter. Empowered Funds LLC boosted its position in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after acquiring an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of FedEx in the second quarter worth approximately $586,000. Quantbot Technologies LP acquired a new stake in shares of FedEx in the second quarter worth approximately $186,000. Finally, Jump Financial LLC acquired a new stake in shares of FedEx in the second quarter worth approximately $456,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

FedEx Trading Down 0.1%

NYSE FDX opened at $337.65 on Friday. The company’s fifty day simple moving average is $371.84 and its 200-day simple moving average is $342.64. FedEx Corporation has a 52 week low of $172.88 and a 52 week high of $342.81. The company has a current ratio of 1.47, a quick ratio of 1.44 and a debt-to-equity ratio of 0.77. The stock has a market cap of $80.57 billion, a P/E ratio of 17.97, a PEG ratio of 1.54 and a beta of 1.28.

FedEx (NYSE:FDX) last posted its earnings results on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, topping analysts’ consensus estimates of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The business had revenue of $24 billion for the quarter, compared to analysts’ expectations of $23.44 billion. During the same period in the previous year, the company posted $4.51 earnings per share. The business’s revenue for the quarter was up 8.3% compared to the same quarter last year. Equities research analysts predict that FedEx Corporation will post 19.78 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be given a dividend of $1.22 per share. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s payout ratio is presently 30.87%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FDX shares. Truist Financial set a $155.00 target price on shares of FedEx in a research report on Tuesday, June 2nd. UBS Group started coverage on shares of FedEx in a research report on Wednesday, May 27th. They issued a “buy” rating and a $445.00 target price on the stock. Rothschild & Co Redburn decreased their target price on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. BMO Capital Markets decreased their target price on shares of FedEx from $410.00 to $340.00 and set a “market perform” rating on the stock in a research report on Monday, June 1st. Finally, Wolfe Research decreased their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research report on Tuesday, April 7th. Eighteen analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $371.45.

Insider Activity

In other news, Director Susan C. Schwab sold 5,795 shares of the business’s stock in a transaction on Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the transaction, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. The trade was a 36.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Gina F. Adams sold 20,450 shares of the business’s stock in a transaction on Tuesday, April 14th. The stock was sold at an average price of $366.45, for a total transaction of $7,493,902.50. Following the transaction, the executive vice president directly owned 19,403 shares in the company, valued at approximately $7,110,229.35. The trade was a 51.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is currently owned by company insiders.

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.