Headlands Technologies LLC Acquires New Position in FedEx Corporation $FDX

Headlands Technologies LLC acquired a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 1,866 shares of the shipping service provider’s stock, valued at approximately $584,000.

A number of other institutional investors also recently bought and sold shares of FDX. Hollencrest Capital Management purchased a new position in shares of FedEx during the 1st quarter valued at approximately $25,000. Bayban acquired a new stake in FedEx in the 1st quarter valued at $26,000. Solstein Capital LLC acquired a new stake in FedEx during the 2nd quarter worth $27,000. Cedar Mountain Advisors LLC boosted its stake in 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 purchasing an additional 41 shares during the last quarter. Finally, EFG International AG acquired a new stake in FedEx during the 4th quarter worth $27,000. 84.47% of the stock is owned by hedge funds and other institutional investors.

FedEx Trading Down 1.9%

Shares of NYSE FDX traded down $6.03 during midday trading on Tuesday, hitting $316.49. The stock had a trading volume of 369,025 shares, compared to its average volume of 2,103,963. The company has a market capitalization of $74.90 billion, a price-to-earnings ratio of 17.10, a PEG ratio of 1.71 and a beta of 1.32. FedEx Corporation has a 1-year low of $177.86 and a 1-year high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The company has a fifty day moving average price of $319.29 and a 200 day moving average price of $348.55.

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

FedEx Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be given a dividend of $1.22 per share. The ex-dividend date of this dividend is Monday, September 14th. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s payout ratio is 26.36%.

Insider Buying and Selling

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction that occurred 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 transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Company insiders own 0.65% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Bank of America lifted their price target on FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a report on Wednesday, June 24th. Citizens Jmp initiated coverage on shares of FedEx in a report on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective on the stock. Seaport Research Partners initiated coverage on shares of FedEx in a research note on Wednesday, May 27th. They set a “buy” rating on the stock. JPMorgan Chase & Co. cut their price target on shares of FedEx from $460.00 to $400.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, UBS Group lowered their price objective on FedEx from $445.00 to $350.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. One analyst has rated the stock with a Strong Buy rating, seventeen have assigned a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $348.32.

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.