3,061 Shares in FedEx Corporation $FDX Purchased by OneAscent Financial Services LLC

OneAscent Financial Services LLC purchased a new position in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 3,061 shares of the shipping service provider’s stock, valued at approximately $958,000.

A number of other large investors also recently modified their holdings of the company. Ferguson Wellman Capital Management Inc. grew its stake in FedEx by 3.2% during the first quarter. Ferguson Wellman Capital Management Inc. now owns 830 shares of the shipping service provider’s stock valued at $296,000 after acquiring an additional 26 shares in the last quarter. Whipplewood Advisors LLC lifted its stake in FedEx by 9.9% in the 1st quarter. Whipplewood Advisors LLC now owns 333 shares of the shipping service provider’s stock worth $119,000 after purchasing an additional 30 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in FedEx by 11.9% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 283 shares of the shipping service provider’s stock valued at $101,000 after purchasing an additional 30 shares during the period. Arete Wealth Advisors LLC boosted its holdings in FedEx by 1.7% in the 4th quarter. Arete Wealth Advisors LLC now owns 1,778 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 30 shares during the period. Finally, LRI Investments LLC grew its position in shares of FedEx by 5.2% during the 4th quarter. LRI Investments LLC now owns 632 shares of the shipping service provider’s stock valued at $183,000 after purchasing an additional 31 shares in the last quarter. 84.47% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

FDX has been the topic of several research analyst reports. UBS Group decreased their price target on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a report on Wednesday, June 24th. Bank of America lifted their price objective on FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research note on Wednesday, June 24th. Barclays reduced their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a research report on Wednesday, June 17th. Wells Fargo & Company decreased their target price on FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research note on Wednesday, June 17th. Finally, Rothschild & Co Redburn lowered their price target on FedEx from $375.00 to $344.00 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have assigned a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Transactions at FedEx

In other news, Director Paul S. Walsh sold 5,042 shares of the company’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the transaction, the director directly 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 document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is currently owned by company insiders.

FedEx Stock Performance

FedEx stock opened at $326.15 on Friday. The firm’s fifty day moving average price is $319.29 and its 200-day moving average price is $351.72. 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 stock has a market cap of $77.19 billion, a P/E ratio of 17.62, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30. FedEx Corporation has a fifty-two week low of $177.05 and a fifty-two week high of $345.36.

FedEx (NYSE:FDX) last posted 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 company had revenue of $23.26 billion during the quarter. On average, equities research analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal year.

FedEx Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Shareholders of record on Monday, June 22nd were paid a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a yield of 1.5%. FedEx’s payout ratio is 26.36%.

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.