Diversify Advisory Services LLC Makes New $1.22 Million Investment in FedEx Corporation $FDX

Diversify Advisory Services LLC purchased a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, HoldingsChannel reports. The firm purchased 3,926 shares of the shipping service provider’s stock, valued at approximately $1,220,000.

A number of other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its holdings in FedEx by 12.8% in the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the period. Empowered Funds LLC increased 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 valued at $2,514,000 after buying an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of FedEx during the 2nd quarter worth approximately $586,000. Quantbot Technologies LP purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new position in shares of FedEx during the 2nd quarter valued at approximately $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This trade represents a 23.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on FDX shares. Deutsche Bank Aktiengesellschaft downgraded shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. Citizens Jmp began coverage on shares of FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target for the company. Weiss Ratings raised shares of FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Barclays lowered their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Finally, Rothschild & Co Redburn reduced their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $350.54.

FedEx Price Performance

FedEx stock opened at $328.07 on Thursday. The company has a fifty day simple moving average of $319.53 and a 200-day simple moving average of $351.69. The firm has a market capitalization of $77.65 billion, a price-to-earnings ratio of 17.72, a PEG ratio of 1.69 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. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36.

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

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio is presently 26.36%.

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.