Northcape Wealth Management LLC Makes New $845,000 Investment in FedEx Corporation $FDX

Northcape Wealth Management LLC bought a new position in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 2,698 shares of the shipping service provider’s stock, valued at approximately $845,000.

A number of other large investors also recently made changes to their positions in FDX. Hollencrest Capital Management purchased a new position in FedEx during the first quarter worth about $25,000. Bayban purchased a new stake in FedEx in the 1st quarter valued at about $26,000. Cedar Mountain Advisors LLC lifted its position in shares of FedEx by 77.4% during the 1st 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 bought a new position in shares of FedEx during the 4th quarter worth approximately $27,000. Finally, Tucker Asset Management LLC purchased a new position in shares of FedEx in the 4th quarter worth approximately $29,000. 84.47% of the stock is owned by institutional investors.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated 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 sale, the director 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 accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Seaport Research Partners assumed coverage on FedEx in a research report on Wednesday, May 27th. They set a “buy” rating for the company. BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research report on Wednesday, June 24th. Stifel Nicolaus reduced their price objective on FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research note on Wednesday, June 24th. Rothschild & Co Redburn decreased their target price on FedEx from $375.00 to $344.00 and set a “neutral” rating for the company in a research report on Tuesday, June 2nd. Finally, Truist Financial cut their price target on shares of FedEx from $425.00 to $365.00 and set a “buy” rating on the stock in a report on Thursday, June 25th. One research 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 given a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Stock Down 0.1%

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 company 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 company has a 50 day moving average of $319.53 and a 200 day moving average of $351.69.

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

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a dividend of $1.22 per share. 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 payout ratio is presently 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.