Proficio Capital Partners LLC Invests $1.08 Million in FedEx Corporation $FDX

Proficio Capital Partners LLC bought a new position in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund bought 3,438 shares of the shipping service provider’s stock, valued at approximately $1,076,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pure Financial Advisors LLC acquired a new stake in FedEx in the 2nd quarter worth approximately $866,000. Transamerica Financial Advisors LLC purchased a new stake in shares of FedEx during the second quarter valued at $506,000. Corient Private Wealth LP purchased a new position in FedEx in the 2nd quarter worth $32,464,000. Palogic Value Management L.P. acquired a new stake in FedEx during the 2nd quarter worth about $1,088,000. Finally, Perennial Investment Advisors LLC acquired a new position in shares of FedEx in the second quarter valued at about $396,000. 84.47% of the stock is currently owned by hedge funds and other institutional investors.

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 shares were 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 owned 16,359 shares in the company, valued at approximately $5,309,477.04. This represents a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 0.65% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $336.52 on Thursday. 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’s 50 day simple moving average is $319.13 and its 200-day simple moving average is $351.11. The company has a market cap of $79.64 billion, a PE ratio of 18.18, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. FedEx Corporation has a 1-year low of $177.05 and a 1-year high of $345.36.

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

FedEx Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, October 1st. Investors of record on Monday, September 14th will be paid a dividend of $1.22 per share. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Monday, September 14th. FedEx’s dividend payout ratio is currently 26.36%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on FDX shares. HSBC dropped their target price on FedEx from $360.00 to $289.89 and set a “hold” rating on the stock in a research report on Monday, June 1st. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a report on Friday, June 26th. Citizens Jmp initiated coverage on FedEx in a research report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 price target on the stock. Evercore set a $165.00 price target on FedEx in a research note on Friday, June 26th. Finally, Truist Financial cut their price objective on FedEx from $425.00 to $365.00 and set a “buy” rating for the company in a research report on Thursday, June 25th. One equities research 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 assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $350.54.

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.