FedEx Corporation $FDX Shares Purchased by Empowered Funds LLC

Empowered Funds LLC grew its position in FedEx Corporation (NYSE:FDX) by 8.6% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 32,867 shares of the shipping service provider’s stock after purchasing an additional 2,605 shares during the period. Empowered Funds LLC’s holdings in FedEx were worth $11,707,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in FDX. Sivia Capital Partners LLC bought a new position in FedEx in the 2nd quarter valued at about $586,000. CWM LLC raised its position in shares of FedEx by 32.2% during the 4th quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after buying an additional 26,322 shares in the last quarter. Canada Post Corp Registered Pension Plan lifted its stake in shares of FedEx by 85.9% in the 4th quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FedEx by 19.6% in the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after acquiring an additional 6,864 shares during the period. Finally, North Dakota State Investment Board bought a new position in shares of FedEx in the fourth quarter valued at approximately $2,122,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

Shares of FDX opened at $308.96 on Thursday. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The firm’s 50 day moving average is $332.02 and its 200-day moving average is $350.48. FedEx Corporation has a 12-month low of $172.88 and a 12-month high of $345.36. The stock has a market capitalization of $73.10 billion, a P/E ratio of 16.69, a P/E/G ratio of 1.61 and a beta of 1.29.

FedEx (NYSE:FDX) last released its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The business 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%. Equities research 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. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. 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 payout ratio is 26.36%.

Insider Activity

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 of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.53% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on FDX shares. Stephens upgraded shares of FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Wolfe Research cut their target price on FedEx from $427.00 to $423.00 and set an “outperform” rating for the company in a research report on Tuesday, April 7th. 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 note on Monday, June 1st. JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. One 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 company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $350.54.

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.