Csenge Advisory Group Buys Shares of 2,197 FedEx Corporation $FDX

Csenge Advisory Group purchased a new position in shares of FedEx Corporation (NYSE:FDX) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 2,197 shares of the shipping service provider’s stock, valued at approximately $688,000.

Several other hedge funds also recently made changes to their positions in FDX. BlackRock Inc. bought a new stake in shares of FedEx in the second quarter worth $6,508,103,000. State Street Corp increased its stake in FedEx by 4.2% in the 4th quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock valued at $2,763,824,000 after buying an additional 382,848 shares during the last quarter. Franklin Resources Inc. lifted its position in FedEx by 6.6% during the 4th quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after buying an additional 318,293 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of FedEx by 0.9% during the 4th quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after buying an additional 45,818 shares during the last quarter. Finally, Invesco Ltd. grew its holdings in shares of FedEx by 3.1% in the 3rd quarter. Invesco Ltd. now owns 3,618,898 shares of the shipping service provider’s stock valued at $853,372,000 after acquiring an additional 108,426 shares in the last quarter. 84.47% of the stock is owned by institutional investors.

Analyst Ratings Changes

FDX has been the subject of several recent research reports. Sanford C. Bernstein set a $397.00 price target on FedEx in a research report on Wednesday, June 24th. UBS Group cut their price objective on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. TD Cowen decreased their target price on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, Raymond James Financial reissued an “outperform” rating on shares of FedEx in a research report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, FedEx currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

Insiders Place Their Bets

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s 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 directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by corporate insiders.

FedEx Stock Down 0.1%

Shares of FDX opened at $328.07 on Thursday. The firm has a market cap of $77.65 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. 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 52 week low of $177.05 and a 52 week high of $345.36. The firm’s 50-day simple moving average is $319.53 and its 200 day simple moving average is $351.69.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share 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. On average, analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders 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 yield of 1.5%. FedEx’s payout ratio is currently 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.