Sapient Capital LLC Buys New Shares in FedEx Corporation $FDX

Sapient Capital LLC acquired a new stake in shares of FedEx Corporation (NYSE:FDX) during the 1st quarter, Holdings Channel reports. The firm acquired 1,733 shares of the shipping service provider’s stock, valued at approximately $620,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in FDX. Hollencrest Capital Management bought a new stake in FedEx during the 1st quarter valued at $25,000. Bayban bought a new position in shares of FedEx during the first quarter valued at about $26,000. EFG International AG bought a new position in shares of FedEx during the fourth quarter valued at about $27,000. Wealth Watch Advisors INC purchased a new position in FedEx during the third quarter worth about $28,000. Finally, Tucker Asset Management LLC bought a new stake in FedEx in the 4th quarter worth about $29,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related 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 completion of the sale, the director owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.53% of the company’s stock.

FedEx Trading Up 1.5%

Shares of FDX opened at $313.94 on Wednesday. FedEx Corporation has a twelve month low of $173.36 and a twelve month high of $345.36. The stock has a market cap of $74.28 billion, a PE ratio of 16.96, a P/E/G ratio of 1.59 and a beta of 1.30. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The business’s 50-day moving average price is $325.26 and its 200-day moving average price is $350.42.

FedEx (NYSE:FDX) last released 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 during the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. On average, equities analysts forecast that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were issued a $1.22 dividend. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.6%. FedEx’s dividend payout ratio is presently 26.36%.

Analysts Set New Price Targets

Several equities research analysts have commented on FDX shares. Stephens upgraded shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Sanford C. Bernstein set a $397.00 target price on FedEx in a report on Wednesday, June 24th. The Goldman Sachs Group decreased their price target on FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research report on Monday, June 1st. TD Cowen cut their price objective on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, Wells Fargo & Company reduced their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $350.54.

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.