Headlands Technologies LLC Takes Position in FedEx Corporation $FDX

Headlands Technologies LLC acquired a new position in FedEx Corporation (NYSE:FDX) during the second quarter, HoldingsChannel.com reports. The fund acquired 1,866 shares of the shipping service provider’s stock, valued at approximately $584,000.

Several other large investors have also recently modified their holdings of the company. BlackRock Inc. purchased a new stake in FedEx during the second quarter valued at approximately $6,508,103,000. State Street Corp grew its holdings in FedEx by 4.2% in the fourth quarter. State Street Corp now owns 9,521,691 shares of the shipping service provider’s stock worth $2,763,824,000 after purchasing an additional 382,848 shares during the last quarter. Primecap Management Co. CA purchased a new position in FedEx in the second quarter worth $2,554,138,000. Franklin Resources Inc. increased its position in shares of FedEx by 6.6% during the fourth quarter. Franklin Resources Inc. now owns 5,133,231 shares of the shipping service provider’s stock worth $1,482,785,000 after purchasing an additional 318,293 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in shares of FedEx by 0.9% during the fourth quarter. Geode Capital Management LLC now owns 4,985,778 shares of the shipping service provider’s stock worth $1,443,666,000 after purchasing an additional 45,818 shares in the last quarter. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Down 2.7%

FedEx stock opened at $316.15 on Thursday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. The business’s 50-day simple moving average is $319.39 and its two-hundred day simple moving average is $349.65. The company has a market cap of $74.82 billion, a PE ratio of 17.08, a PEG ratio of 1.73 and a beta of 1.32. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36.

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

FedEx Announces Dividend

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

Insider Transactions at FedEx

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director directly owned 16,359 shares of the company’s stock, valued at approximately $5,309,477.04. This trade represents a 23.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 0.65% of the company’s stock.

Wall Street Analysts Forecast Growth

FDX has been the subject of a number of recent analyst reports. Barclays lowered their price objective on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Bank of America upped their target price on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. HSBC decreased their price target on FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research note on Monday, June 1st. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a report on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft lowered FedEx from a “buy” rating to a “hold” rating in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, FedEx currently has an average rating of “Moderate Buy” and a consensus target price 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.