Electron Capital Partners LLC Purchases New Shares in FedEx Corporation $FDX

Electron Capital Partners LLC purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 159,165 shares of the shipping service provider’s stock, valued at approximately $56,691,000. FedEx accounts for about 2.2% of Electron Capital Partners LLC’s holdings, making the stock its 15th largest position. Electron Capital Partners LLC owned about 0.07% of FedEx at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC boosted its holdings in FedEx by 8.6% in the first quarter. Empowered Funds LLC now owns 32,867 shares of the shipping service provider’s stock valued at $11,707,000 after purchasing an additional 2,605 shares during the last quarter. Envision Financial Planning LLC acquired a new position in shares of FedEx in the 1st quarter valued at approximately $216,000. Evercore Wealth Management LLC acquired a new position in shares of FedEx in the 1st quarter valued at approximately $219,000. Excelsior Advisor Network LLC purchased a new position in shares of FedEx during the 1st quarter valued at approximately $237,000. Finally, Quantinno Capital Management LP grew its position in shares of FedEx by 24.3% during the first quarter. Quantinno Capital Management LP now owns 164,212 shares of the shipping service provider’s stock worth $58,489,000 after buying an additional 32,067 shares in the last quarter. 84.47% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred 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 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 filing with the SEC, which can be accessed through this link. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FDX shares. Bank of America lifted their price target on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. Weiss Ratings lowered shares of FedEx from a “buy (b)” rating to a “buy (b-)” rating in a report on Wednesday, June 3rd. Jefferies Financial Group began coverage on shares of FedEx in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price for the company. Wolfe Research cut their target price on shares of FedEx from $427.00 to $423.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 7th. Finally, Deutsche Bank Aktiengesellschaft cut shares of FedEx from a “buy” rating to a “hold” rating in a research report on Wednesday, May 27th. One 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 assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Trading Down 1.4%

NYSE:FDX opened at $310.54 on Tuesday. The stock has a market cap of $73.47 billion, a price-to-earnings ratio of 16.78, a PEG ratio of 1.62 and a beta of 1.29. 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 1 year low of $172.88 and a 1 year high of $345.36. The business has a fifty day moving average of $334.80 and a 200-day moving average of $350.44.

FedEx (NYSE:FDX) last announced its 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 for the quarter. Equities analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders 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 1.6%. FedEx’s dividend payout ratio 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.