Commerzbank Aktiengesellschaft FI Takes Position in FedEx Corporation $FDX

Commerzbank Aktiengesellschaft FI bought a new stake in FedEx Corporation (NYSE:FDX) in the 2nd quarter, Holdings Channel.com reports. The fund bought 23,099 shares of the shipping service provider’s stock, valued at approximately $7,233,000.

Several other large investors have also recently added to or reduced their stakes in the business. Hollencrest Capital Management purchased a new stake in FedEx in the 1st quarter valued at about $25,000. Bayban purchased a new position in shares of FedEx during the 1st quarter worth about $26,000. EFG International AG acquired a new stake in shares of FedEx in the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC purchased a new stake in FedEx in the third quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC purchased a new stake in FedEx in the fourth quarter valued at approximately $29,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FedEx

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 0.53% of the company’s stock.

FedEx Price Performance

FedEx stock opened at $331.86 on Tuesday. The firm has a fifty day moving average of $319.43 and a 200-day moving average of $351.54. FedEx Corporation has a 52-week low of $177.05 and a 52-week high of $345.36. The company has a quick ratio of 1.44, a current ratio of 1.48 and a debt-to-equity ratio of 0.74. The firm has a market capitalization of $78.51 billion, a P/E ratio of 17.93, a PEG ratio of 1.72 and a beta of 1.30.

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

FedEx Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were paid a $1.22 dividend. The ex-dividend date was Monday, June 22nd. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is 26.36%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Sanford C. Bernstein set a $397.00 price target on shares of FedEx in a research note on Wednesday, June 24th. Evercore set a $165.00 price objective on shares of FedEx in a research note on Friday, June 26th. Wall Street Zen upgraded FedEx to a “hold” rating in a report on Saturday, August 8th. TD Cowen cut their target price on FedEx from $426.00 to $354.00 in a research report on Wednesday, June 24th. Finally, The Goldman Sachs Group reduced 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. One analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the company. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and a consensus target price of $350.54.

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.