Mmbg Investment Advisors CO. Buys Shares of 6,532 FedEx Corporation $FDX

Mmbg Investment Advisors CO. purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 6,532 shares of the shipping service provider’s stock, valued at approximately $2,053,000.

Other large investors have also recently made changes to their positions in the company. Hollencrest Capital Management purchased a new position in FedEx in the 1st quarter valued at $25,000. Bayban acquired a new stake in shares of FedEx in the first quarter valued at about $26,000. Cedar Mountain Advisors LLC lifted its stake in shares of FedEx by 77.4% in the first quarter. Cedar Mountain Advisors LLC now owns 94 shares of the shipping service provider’s stock worth $33,000 after buying an additional 41 shares in the last quarter. EFG International AG acquired a new position in FedEx during the fourth quarter worth about $27,000. Finally, Tucker Asset Management LLC acquired a new position in FedEx during the fourth quarter worth about $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total value of $1,636,431.52. Following the sale, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. 0.53% of the stock is owned by company insiders.

FedEx Trading Down 0.1%

NYSE:FDX opened at $328.07 on Thursday. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36. The firm has a market cap of $77.65 billion, a PE ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. 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 stock has a fifty day moving average price of $319.53 and a 200 day moving average price of $351.69.

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

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. FedEx’s payout ratio is currently 26.36%.

Wall Street Analyst Weigh In

FDX has been the topic of several recent research reports. TD Cowen lowered their target price on FedEx from $426.00 to $354.00 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. Rothschild & Co Redburn cut their price target on shares of FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a report on Tuesday, June 2nd. Truist Financial reduced their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a research report on Thursday, June 25th. Finally, Seaport Research Partners assumed coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

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.