Trust Co. of Vermont Buys Shares of 2,380 FedEx Corporation $FDX

Trust Co. of Vermont purchased a new position in shares of FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 2,380 shares of the shipping service provider’s stock, valued at approximately $745,000.

A number of other institutional investors also recently made changes to their positions in FDX. Norges Bank acquired a new position in shares of FedEx during the fourth quarter valued at approximately $859,085,000. Boston Partners acquired a new stake in FedEx in the third quarter worth approximately $468,195,000. AQR Capital Management LLC lifted its position in FedEx by 169.2% in the third quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock worth $638,203,000 after purchasing an additional 1,718,278 shares during the period. Bank of New York Mellon Corp bought a new position in FedEx during the 2nd quarter valued at $466,943,000. Finally, Waddell & Associates LLC boosted its stake in FedEx by 164.0% during the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after purchasing an additional 738,122 shares in the last quarter. 84.47% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of FedEx 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 transaction, the director directly owned 16,359 shares in the company, valued at approximately $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.

FedEx Price Performance

FDX stock opened at $328.43 on Wednesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36. The firm has a market capitalization of $77.70 billion, a PE ratio of 17.74, a P/E/G ratio of 1.72 and a beta of 1.30. The firm has a 50-day moving average of $319.36 and a two-hundred day moving average of $351.63.

FedEx (NYSE:FDX) last announced its earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 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 during the quarter. On average, analysts forecast that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

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

Analyst Upgrades and Downgrades

FDX has been the topic of a number of research reports. Jefferies Financial Group assumed coverage on FedEx in a research note on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. JPMorgan Chase & Co. reaffirmed a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Citizens Jmp initiated coverage on FedEx in a report on Wednesday, July 15th. They set a “market outperform” rating and a $375.00 target price on the stock. Stephens upgraded shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. Finally, BMO Capital Markets reissued a “market perform” rating on shares of FedEx in a report on Wednesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have assigned a Hold rating and two have given a Sell rating to the company. According to MarketBeat.com, the company has an average 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.