2,017 Shares in FedEx Corporation $FDX Bought by Storgate LLC

Storgate LLC bought a new position in FedEx Corporation (NYSE:FDX) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 2,017 shares of the shipping service provider’s stock, valued at approximately $583,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Norges Bank purchased a new position in FedEx in the fourth quarter worth $859,085,000. Vanguard Group Inc. grew its position in FedEx by 13.2% in the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock worth $5,527,870,000 after acquiring an additional 2,741,723 shares in the last quarter. Boston Partners purchased a new position in FedEx in the third quarter worth $468,195,000. Dodge & Cox grew its position in FedEx by 12.0% in the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock worth $3,826,055,000 after acquiring an additional 1,742,666 shares in the last quarter. Finally, AQR Capital Management LLC grew its position in FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after acquiring an additional 1,718,278 shares in the last quarter. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on FDX shares. Barclays cut their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Friday. Morgan Stanley boosted their price target on shares of FedEx from $220.00 to $230.00 and gave the stock an “underweight” rating in a research note on Friday, March 20th. Wells Fargo & Company raised shares of FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. Raymond James Financial initiated coverage on shares of FedEx in a research note on Wednesday, June 3rd. They issued an “outperform” rating and a $180.00 price target for the company. Finally, Argus boosted their price target on shares of FedEx from $350.00 to $400.00 and gave the stock a “buy” rating in a research note on Monday, April 6th. Eighteen investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat.com, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $371.45.

FedEx Stock Performance

FedEx stock opened at $337.65 on Friday. The company has a quick ratio of 1.44, a current ratio of 1.47 and a debt-to-equity ratio of 0.77. The company has a market capitalization of $80.57 billion, a PE ratio of 17.97, a P/E/G ratio of 1.54 and a beta of 1.28. The firm has a fifty day simple moving average of $371.84 and a two-hundred day simple moving average of $342.64. FedEx Corporation has a twelve month low of $172.88 and a twelve month high of $342.81.

FedEx (NYSE:FDX) last issued its quarterly earnings data on Thursday, March 19th. The shipping service provider reported $5.25 EPS for the quarter, beating the consensus estimate of $4.12 by $1.13. The firm had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company’s quarterly revenue was up 8.3% compared to the same quarter last year. During the same period in the prior year, the firm posted $4.51 earnings per share. Research analysts expect that FedEx Corporation will post 19.72 EPS for the current year.

FedEx Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 22nd. FedEx’s dividend payout ratio is 30.87%.

Insider Activity

In other news, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The shares were sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the transaction, the director directly owned 10,038 shares of the company’s stock, valued at approximately $3,704,022. This represents a 36.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Kawal Preet sold 4,900 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $367.89, for a total transaction of $1,802,661.00. Following the transaction, the executive vice president directly owned 10,953 shares of the company’s stock, valued at approximately $4,029,499.17. This trade represents a 30.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 48,104 shares of company stock valued at $17,599,006. 0.53% of the stock is currently owned by insiders.

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.