FedEx Corporation $FDX Shares Bought by Saudi Central Bank

Saudi Central Bank increased its position in shares of FedEx Corporation (NYSE:FDX) by 87.4% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 15,450 shares of the shipping service provider’s stock after buying an additional 7,205 shares during the period. Saudi Central Bank’s holdings in FedEx were worth $4,838,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of FedEx by 12.8% in the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after buying an additional 207 shares during the last quarter. Empowered Funds LLC increased its holdings in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after buying an additional 4,548 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in FedEx in the second quarter valued at $586,000. Quantbot Technologies LP purchased a new position in FedEx during the second quarter worth about $186,000. Finally, Jump Financial LLC purchased a new stake in shares of FedEx in the 2nd quarter valued at approximately $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research firms recently issued reports on FDX. Stephens raised FedEx to a “strong-buy” rating in a research note on Wednesday, July 8th. Jefferies Financial Group initiated coverage on FedEx in a report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 target price on the stock. Stifel Nicolaus reduced their price objective on shares of FedEx from $442.00 to $326.00 and set a “buy” rating for the company in a research report on Wednesday, June 24th. Wall Street Zen upgraded FedEx to a “hold” rating in a research report on Saturday, August 8th. Finally, Bank of America increased their target price on shares of FedEx from $376.00 to $378.00 and gave the stock a “buy” rating in a research note on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and an average price target of $350.54.

Insider Activity at FedEx

In related news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction dated 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 completion of the transaction, the director 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 sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by insiders.

FedEx Price Performance

FDX stock opened at $322.11 on Monday. The firm has a 50 day moving average of $319.36 and a 200-day moving average of $348.92. 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 market cap of $76.23 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 1.71 and a beta of 1.32. FedEx Corporation has a 12-month low of $177.65 and a 12-month high of $345.36.

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

FedEx Announces Dividend

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

About FedEx

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.