Womack Financial LLC Invests $758,000 in FedEx Corporation $FDX

Womack Financial LLC bought a new stake in shares of FedEx Corporation (NYSE:FDX) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 2,422 shares of the shipping service provider’s stock, valued at approximately $758,000.

Several other institutional investors have also bought and sold shares of the stock. Brighton Jones LLC lifted its position in shares of FedEx by 12.8% during the fourth quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock valued at $514,000 after purchasing an additional 207 shares in the last quarter. Empowered Funds LLC grew its holdings in shares of FedEx by 78.9% in the first quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock valued at $2,514,000 after acquiring an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of FedEx in the second quarter valued at approximately $586,000. Quantbot Technologies LP purchased a new stake in shares of FedEx during the second quarter valued at approximately $186,000. Finally, Jump Financial LLC purchased a new stake in shares of FedEx during the second quarter valued at approximately $456,000. Institutional investors own 84.47% of the company’s stock.

FedEx Stock Up 2.8%

Shares of NYSE FDX opened at $334.05 on Tuesday. 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 has a market capitalization of $79.06 billion, a PE ratio of 18.05, a P/E/G ratio of 1.67 and a beta of 1.30. FedEx Corporation has a one year low of $177.05 and a one year high of $345.36. The business’s fifty day moving average price is $318.95 and its 200-day moving average price is $351.51.

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. The company had revenue of $23.26 billion during the quarter. FedEx had a return on equity of 16.49% and a net margin of 4.68%. On average, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current year.

FedEx Announces Dividend

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

Wall Street Analysts Forecast Growth

FDX has been the topic of several research analyst reports. Jefferies Financial Group initiated coverage on FedEx in a research report on Tuesday, June 23rd. They issued a “buy” rating and a $200.00 price objective on the stock. Barclays cut their price target on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a report on Wednesday, June 17th. Bank of America increased their price target on shares of FedEx from $376.00 to $378.00 and gave the company a “buy” rating in a research report on Wednesday, June 24th. Wells Fargo & Company decreased their price objective on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating for the company in a report on Wednesday, June 17th. Finally, Stephens raised shares of FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, nine have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, FedEx currently has a consensus rating of “Moderate Buy” and an average target price of $350.54.

Insider Activity

In related news, Director Paul S. Walsh sold 5,042 shares of the company’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 sale, 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.65% of the stock is currently owned by company insiders.

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.