Arrowstreet Capital Limited Partnership Acquires 5,936 Shares of FedEx Corporation $FDX

Arrowstreet Capital Limited Partnership raised its holdings in FedEx Corporation (NYSE:FDX) by 0.6% in the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 919,987 shares of the shipping service provider’s stock after acquiring an additional 5,936 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in FedEx were worth $327,681,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of FDX. Hollencrest Capital Management bought a new stake in shares of FedEx in the 1st quarter valued at about $25,000. Bayban bought a new position in shares of FedEx during the first quarter worth about $26,000. EFG International AG acquired a new position in shares of FedEx in the fourth quarter worth approximately $27,000. Wealth Watch Advisors INC bought a new stake in FedEx in the third quarter valued at approximately $28,000. Finally, Tucker Asset Management LLC acquired a new stake in FedEx during the 4th quarter valued at approximately $29,000. Institutional investors own 84.47% of the company’s stock.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated 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 sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. This represents a 23.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.

FedEx Stock Performance

NYSE FDX opened at $314.77 on Friday. FedEx Corporation has a 1 year low of $172.88 and a 1 year high of $345.36. The firm has a market cap of $74.47 billion, a price-to-earnings ratio of 17.01, a PEG ratio of 1.62 and a beta of 1.29. The company has a fifty day moving average price of $335.98 and a 200-day moving average price of $350.05. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.48 and a quick ratio of 1.44.

FedEx (NYSE:FDX) last issued its quarterly earnings data 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 business had revenue of $23.26 billion during the quarter. As a group, equities research analysts predict that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

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

Analysts Set New Price Targets

FDX has been the topic of a number of recent analyst reports. BNP Paribas Exane dropped their price target on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research report on Tuesday, June 2nd. JPMorgan Chase & Co. reissued a “buy” rating on shares of FedEx in a research report on Friday, June 26th. Citizens Jmp started coverage on FedEx in a research note on Wednesday, July 15th. They issued a “market outperform” rating and a $375.00 price objective on the stock. 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. Finally, Barclays decreased their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat, FedEx presently has an average rating of “Moderate Buy” and an average 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.