Quantinno Capital Management LP Purchases 32,067 Shares of FedEx Corporation $FDX

Quantinno Capital Management LP boosted its position in FedEx Corporation (NYSE:FDX) by 24.3% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 164,212 shares of the shipping service provider’s stock after acquiring an additional 32,067 shares during the quarter. Quantinno Capital Management LP’s holdings in FedEx were worth $58,489,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently bought and sold shares of the company. Hollencrest Capital Management bought a new stake in FedEx during the first quarter valued at about $25,000. Bayban acquired a new stake in shares of FedEx in the first quarter valued at about $26,000. EFG International AG acquired a new stake in shares of FedEx in the fourth quarter valued at about $27,000. Wealth Watch Advisors INC bought a new position in shares of FedEx in the third quarter worth about $28,000. Finally, Tucker Asset Management LLC bought a new position in shares of FedEx in the fourth quarter worth about $29,000. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Wells Fargo & Company decreased their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. Sanford C. Bernstein set a $397.00 price target on FedEx in a research report on Wednesday, June 24th. Stifel Nicolaus cut their price target on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a report on Wednesday, June 24th. BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Finally, TD Cowen lowered their price objective on shares of FedEx from $426.00 to $354.00 in a research note on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Buying and Selling

In related 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.

FedEx Stock Down 1.2%

FDX stock opened at $308.96 on Thursday. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $345.36. The company has a market cap of $73.10 billion, a PE ratio of 16.69, a price-to-earnings-growth ratio of 1.61 and a beta of 1.29. The business’s 50-day simple moving average is $332.02 and its 200 day simple moving average is $350.48. 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 (NYSE:FDX) last posted its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS 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 during the quarter. On average, research analysts anticipate that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

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

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.