1,916 Shares in FedEx Corporation $FDX Bought by USA Financial Formulas

USA Financial Formulas acquired a new stake in shares of FedEx Corporation (NYSE:FDX) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,916 shares of the shipping service provider’s stock, valued at approximately $546,000.

A number of other hedge funds have also recently bought and sold shares of FDX. Hollencrest Capital Management purchased a new stake in FedEx in the 1st quarter worth approximately $25,000. Bayban acquired a new position in FedEx in the 1st quarter valued at $26,000. Solstein Capital LLC acquired a new position in FedEx in the 2nd quarter valued at $27,000. Cedar Mountain Advisors LLC lifted its stake 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 purchasing an additional 41 shares during the period. Finally, C M Bidwell & Associates Ltd. purchased a new position in shares of FedEx during the 2nd quarter worth $31,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

FDX has been the topic of several analyst reports. Citizens Jmp started coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price objective on the stock. Citigroup reiterated a “cautious” rating on shares of FedEx in a research note on Wednesday, October 7th. BNP Paribas Exane upped their target price on FedEx from $269.80 to $300.00 and gave the company a “neutral” rating in a research note on Wednesday, September 30th. Wall Street Zen upgraded FedEx to a “hold” rating in a research report on Saturday, August 8th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a research note on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, nine have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $354.64.

FedEx Price Performance

FedEx stock opened at $293.51 on Friday. FedEx Corporation has a 1 year low of $187.62 and a 1 year high of $345.36. The firm has a 50 day moving average price of $309.44 and a 200 day moving average price of $334.17. The company has a market cap of $69.47 billion, a price-to-earnings ratio of 15.86, a PEG ratio of 1.57 and a beta of 1.28. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48.

FedEx (NYSE:FDX) last issued its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The firm had revenue of $23.26 billion during the quarter. Sell-side analysts predict that FedEx Corporation will post 18.27 earnings per share for the current year.

FedEx Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, October 1st. Shareholders of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Monday, September 14th. FedEx’s dividend payout ratio (DPR) is 26.36%.

FedEx Company Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.