1,670 Shares in FedEx Corporation $FDX Bought by Fort Point Capital Partners LLC

Fort Point Capital Partners LLC purchased a new position in FedEx Corporation (NYSE:FDX) in the fourth quarter, HoldingsChannel reports. The fund purchased 1,670 shares of the shipping service provider’s stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FDX. Norges Bank bought a new stake in shares of FedEx in the fourth quarter worth $859,085,000. Vanguard Group Inc. increased its stake in FedEx by 13.2% during the third quarter. Vanguard Group Inc. now owns 23,442,049 shares of the shipping service provider’s stock valued at $5,527,870,000 after purchasing an additional 2,741,723 shares during the last quarter. Boston Partners bought a new stake in FedEx during the third quarter valued at $468,195,000. Dodge & Cox increased its stake in FedEx by 12.0% during the third quarter. Dodge & Cox now owns 16,225,160 shares of the shipping service provider’s stock valued at $3,826,055,000 after purchasing an additional 1,742,666 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in FedEx by 169.2% during the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after purchasing an additional 1,718,278 shares during the last quarter. Institutional investors own 84.47% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the stock. Susquehanna boosted their target price on shares of FedEx from $410.00 to $455.00 and gave the company a “positive” rating in a research note on Friday, March 20th. Wells Fargo & Company upgraded shares of FedEx from an “overweight” rating to an “overweight” rating in a research note on Wednesday, May 27th. TD Cowen boosted their target price on shares of FedEx from $383.00 to $426.00 and gave the company a “buy” rating in a research note on Friday, March 20th. The Goldman Sachs Group lowered their target price on shares of FedEx from $405.00 to $375.00 and set a “buy” rating for the company in a research note on Monday, June 1st. Finally, Evercore lowered shares of FedEx from an “outperform” rating to a “cautious” rating in a research note on Wednesday, May 27th. Eighteen research 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 MarketBeat.com, FedEx has a consensus rating of “Moderate Buy” and a consensus price target of $371.45.

Insider Activity at FedEx

In related news, EVP Gina F. Adams sold 20,450 shares of the company’s stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $366.45, for a total value of $7,493,902.50. Following the completion of the sale, the executive vice president owned 19,403 shares of the company’s stock, valued at $7,110,229.35. This represents a 51.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Susan C. Schwab sold 5,795 shares of the company’s stock in a transaction dated Wednesday, April 15th. The stock was sold at an average price of $369.00, for a total transaction of $2,138,355.00. Following the completion of the sale, the director directly owned 10,038 shares of the company’s stock, valued at $3,704,022. The trade was a 36.60% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 company insiders.

FedEx Stock Performance

Shares of FDX opened at $337.65 on Friday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $342.81. The company has a market cap of $80.57 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 1.54 and a beta of 1.28. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.44 and a current ratio of 1.47. The firm has a fifty day moving average of $371.84 and a 200-day moving average of $342.64.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Thursday, March 19th. The shipping service provider reported $5.25 earnings per share (EPS) for the quarter, beating the consensus estimate of $4.12 by $1.13. FedEx had a net margin of 4.88% and a return on equity of 16.76%. The company had revenue of $24 billion during the quarter, compared to the consensus estimate of $23.44 billion. During the same quarter in the previous year, the company posted $4.51 earnings per share. The company’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts anticipate that FedEx Corporation will post 19.78 earnings per share for the current year.

FedEx Cuts Dividend

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

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.