Tribune Investment Group LP Has $7.39 Million Position in FedEx Corporation $FDX

Tribune Investment Group LP decreased its holdings in FedEx Corporation (NYSE:FDX) by 8.8% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 23,590 shares of the shipping service provider’s stock after selling 2,270 shares during the quarter. FedEx accounts for about 3.0% of Tribune Investment Group LP’s investment portfolio, making the stock its 4th largest position. Tribune Investment Group LP’s holdings in FedEx were worth $7,387,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently modified their holdings of FDX. Brighton Jones LLC lifted its holdings 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 during the last quarter. Empowered Funds LLC increased its stake in FedEx by 78.9% in the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after purchasing an additional 4,548 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in FedEx in the 2nd quarter worth about $586,000. Quantbot Technologies LP acquired a new stake in FedEx during the 2nd quarter worth about $186,000. Finally, Jump Financial LLC acquired a new stake in FedEx during the 2nd quarter worth about $456,000. Institutional investors and hedge funds own 84.47% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Barclays decreased their target price 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. Evercore set a $165.00 price target on shares of FedEx in a research report on Friday, June 26th. Weiss Ratings lowered shares of FedEx from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a research report on Saturday, August 8th. Finally, BNP Paribas Exane cut their target price on shares of FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a research note on Tuesday, June 2nd. One research analyst has rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, FedEx presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

Insider Activity at FedEx

In other news, Director Paul Walsh sold 5,042 shares of the business’s stock in a transaction 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 $5,309,477.04. The trade was a 23.56% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.65% of the stock is currently owned by corporate insiders.

FedEx Price Performance

Shares of FDX opened at $323.75 on Friday. The business’s 50-day moving average is $319.29 and its 200-day moving average is $349.29. 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 company has a market capitalization of $76.62 billion, a price-to-earnings ratio of 17.49, a P/E/G ratio of 1.68 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 posted its quarterly 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 business had revenue of $23.26 billion during the quarter. Equities research analysts expect that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Dividend Announcement

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

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.