OneAscent Financial Services LLC Invests $958,000 in FedEx Corporation $FDX

OneAscent Financial Services LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, Holdings Channel reports. The institutional investor acquired 3,061 shares of the shipping service provider’s stock, valued at approximately $958,000.

Several other institutional investors and hedge funds also recently made changes to their positions in FDX. Ferguson Wellman Capital Management Inc. raised its position in FedEx by 3.2% in the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock worth $296,000 after purchasing an additional 26 shares during the period. Whipplewood Advisors LLC boosted its position in FedEx by 9.9% during the first quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock valued at $119,000 after buying an additional 30 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its position 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 valued at $101,000 after buying an additional 30 shares during the period. Arete Wealth Advisors LLC grew its stake in shares of FedEx by 1.7% during the fourth quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 30 shares during the last quarter. Finally, LRI Investments LLC grew its stake in shares of FedEx by 5.2% during the fourth quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after buying an additional 31 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analysts Set New Price Targets

FDX has been the subject of a number of recent research reports. Jefferies Financial Group began coverage on FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price for the company. Weiss Ratings upgraded FedEx from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. UBS Group decreased their price target on FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Sanford C. Bernstein set a $397.00 price objective on FedEx in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have given 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, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Activity

In other 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 transaction of $1,636,431.52. Following the transaction, the director directly 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.53% of the company’s stock.

FedEx Stock Performance

FedEx stock opened at $326.15 on Friday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a 50-day moving average of $319.29 and a 200-day moving average of $351.72. The firm has a market cap of $77.19 billion, a P/E ratio of 17.62, a P/E/G ratio of 1.69 and a beta of 1.30. FedEx Corporation has a 1-year low of $177.05 and a 1-year high of $345.36.

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

FedEx Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Monday, June 22nd. FedEx’s dividend payout ratio (DPR) is currently 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.