Electron Capital Partners LLC Invests $56.69 Million in FedEx Corporation $FDX

Electron Capital Partners LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) in the first quarter, Holdings Channel reports. The firm bought 159,165 shares of the shipping service provider’s stock, valued at approximately $56,691,000. FedEx accounts for 2.2% of Electron Capital Partners LLC’s portfolio, making the stock its 15th largest position.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FDX. Hollencrest Capital Management bought a new position in FedEx during the first quarter worth $25,000. Bayban acquired a new stake in FedEx in the 1st quarter worth $26,000. Cedar Mountain Advisors LLC increased its holdings 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. EFG International AG acquired a new position in shares of FedEx during the fourth quarter valued at about $27,000. Finally, Tucker Asset Management LLC acquired a new position in shares of FedEx during the fourth quarter valued at about $29,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

FedEx Stock Performance

FDX stock opened at $310.54 on Tuesday. The company has a 50 day moving average price of $334.80 and a 200 day moving average price of $350.44. FedEx Corporation has a fifty-two week low of $172.88 and a fifty-two week high of $345.36. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44. The stock has a market capitalization of $73.47 billion, a PE ratio of 16.78, a price-to-earnings-growth ratio of 1.62 and a beta of 1.29.

FedEx (NYSE:FDX) last issued its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share (EPS) for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion for the quarter. Analysts forecast that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were issued a dividend of $1.22 per share. The ex-dividend date was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.6%. FedEx’s payout ratio is currently 26.36%.

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares in the company, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on FDX. Citizens Jmp began coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Raymond James Financial decreased their price objective on FedEx from $415.00 to $330.00 and set an “outperform” rating on the stock in a report on Wednesday, June 24th. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research note on Saturday, June 6th. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Finally, Argus raised 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. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have given a Hold rating and two have given a Sell rating to the company. According to MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

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.