Ieq Capital LLC Purchases 36,577 Shares of FedEx Corporation $FDX

Ieq Capital LLC grew its position in FedEx Corporation (NYSE:FDX) by 23.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 194,320 shares of the shipping service provider’s stock after purchasing an additional 36,577 shares during the period. Ieq Capital LLC owned approximately 0.08% of FedEx worth $56,131,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of FDX. Sivia Capital Partners LLC bought a new stake in FedEx during the second quarter worth about $586,000. Franklin Resources Inc. raised its holdings in FedEx by 5.9% during the third quarter. Franklin Resources Inc. now owns 4,814,938 shares of the shipping service provider’s stock worth $1,135,411,000 after acquiring an additional 269,567 shares in the last quarter. CWM LLC raised its holdings in FedEx by 32.2% during the fourth quarter. CWM LLC now owns 108,031 shares of the shipping service provider’s stock worth $31,206,000 after acquiring an additional 26,322 shares in the last quarter. Canada Post Corp Registered Pension Plan raised its holdings in FedEx by 85.9% during the fourth quarter. Canada Post Corp Registered Pension Plan now owns 6,792 shares of the shipping service provider’s stock worth $1,962,000 after acquiring an additional 3,138 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in FedEx by 19.6% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 41,822 shares of the shipping service provider’s stock worth $12,081,000 after acquiring an additional 6,864 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company upgraded FedEx from an “overweight” rating to an “overweight” rating in a report on Wednesday, May 27th. Evercore lowered FedEx from an “outperform” rating to a “cautious” rating in a report on Wednesday, May 27th. Citigroup assumed coverage on FedEx in a report on Thursday, May 21st. They set a “buy” rating and a $443.00 target price on the stock. Raymond James Financial assumed coverage on FedEx in a report on Wednesday, June 3rd. They set an “outperform” rating and a $180.00 target price on the stock. Finally, The Goldman Sachs Group dropped their target price on FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a report on Monday, June 1st. Eighteen analysts have rated the stock with a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $371.45.

Insider Buying and Selling

In related news, EVP Tracy B. Brightman sold 16,959 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $363.47, for a total transaction of $6,164,087.73. Following the sale, the executive vice president owned 11,052 shares of the company’s stock, valued at $4,017,070.44. This represents a 60.54% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the stock in a transaction that occurred on Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total value of $2,138,355.00. Following the sale, the director directly owned 10,038 shares in the company, valued at $3,704,022. This represents a 36.60% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 48,104 shares of company stock worth $17,599,006. 0.53% of the stock is owned by corporate insiders.

FedEx Trading Down 0.1%

Shares of NYSE:FDX opened at $337.65 on Friday. The company has a market capitalization of $80.57 billion, a P/E ratio of 17.97, a P/E/G ratio of 1.54 and a beta of 1.28. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $342.81. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.47 and a quick ratio of 1.44. The business’s 50 day simple moving average is $371.84 and its 200 day simple moving average is $342.64.

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

FedEx Cuts Dividend

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

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.