FedEx Corporation $FDX Shares Purchased by Trek Financial LLC

Trek Financial LLC raised its stake in shares of FedEx Corporation (NYSE:FDX) by 1,179.3% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 8,277 shares of the shipping service provider’s stock after buying an additional 7,630 shares during the quarter. Trek Financial LLC’s holdings in FedEx were worth $2,360,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of FDX. Mirae Asset Global Investments Co. Ltd. purchased a new stake in FedEx during the 3rd quarter worth about $17,743,000. Aviance Capital Partners LLC raised its stake in FedEx by 11.5% in the 3rd quarter. Aviance Capital Partners LLC now owns 3,439 shares of the shipping service provider’s stock valued at $981,000 after purchasing an additional 354 shares during the last quarter. ProShare Advisors LLC lifted its holdings in FedEx by 18.0% in the 3rd quarter. ProShare Advisors LLC now owns 40,049 shares of the shipping service provider’s stock valued at $11,418,000 after purchasing an additional 6,120 shares in the last quarter. Vise Technologies Inc. lifted its holdings in FedEx by 19.8% in the 3rd quarter. Vise Technologies Inc. now owns 15,006 shares of the shipping service provider’s stock valued at $4,278,000 after purchasing an additional 2,485 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC boosted its stake in shares of FedEx by 13.8% during the 3rd quarter. Moss Adams Wealth Advisors LLC now owns 1,917 shares of the shipping service provider’s stock worth $549,000 after purchasing an additional 233 shares during the last quarter. Hedge funds and other institutional investors own 84.47% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on FDX shares. Wall Street Zen upgraded shares of FedEx to a “hold” rating in a report on Saturday, August 8th. JPMorgan Chase & Co. upped their price objective on shares of FedEx from $399.00 to $400.00 and gave the company an “overweight” rating in a research note on Thursday, October 29th. Weiss Ratings lowered shares of FedEx from a “hold (c+)” rating to a “hold (c)” rating in a research report on Thursday. UBS Group restated a “hold” rating on shares of FedEx in a research report on Friday. Finally, BNP Paribas Exane lifted their target price on shares of FedEx from $269.80 to $300.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 30th. One investment analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, nine have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, FedEx presently has an average rating of “Moderate Buy” and a consensus price target of $365.88.

Insider Transactions at FedEx

In related news, EVP Tracy Brightman sold 26,611 shares of the company’s stock in a transaction that occurred on Friday, October 30th. The shares were sold at an average price of $316.68, for a total transaction of $8,427,171.48. Following the completion of the transaction, the executive vice president owned 12,245 shares of the company’s stock, valued at approximately $3,877,746.60. This represents a 68.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.65% of the company’s stock.

FedEx Stock Up 1.7%

Shares of NYSE:FDX opened at $318.67 on Tuesday. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. The firm has a market cap of $74.63 billion, a price-to-earnings ratio of 19.60, a PEG ratio of 1.23 and a beta of 1.28. The stock’s 50-day moving average price is $304.17 and its two-hundred day moving average price is $337.19. FedEx Corporation has a 12-month low of $199.86 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Wednesday, October 28th. The shipping service provider reported $3.74 EPS for the quarter, beating analysts’ consensus estimates of $3.34 by $0.40. The company had revenue of $22.93 billion during the quarter, compared to the consensus estimate of $22.73 billion. FedEx had a net margin of 4.09% and a return on equity of 16.15%. The company’s quarterly revenue was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.83 EPS. On average, research analysts forecast that FedEx Corporation will post 18.28 EPS for the current year.

FedEx Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, October 1st. Investors of record on Monday, September 14th were issued a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date was Monday, September 14th. FedEx’s payout ratio is presently 30.01%.

FedEx Profile

FedEx Corporation (NYSE: FDX) is a global transportation, e-commerce and business services company headquartered in Memphis, Tennessee. Through its operating companies, FedEx provides time-definite express delivery, ground shipping, freight transportation, customs brokerage, logistics and supply chain services for businesses, governments and consumers.

The company’s services include domestic and international package delivery, less-than-truckload freight transportation, warehousing, fulfillment, supply chain management and specialized logistics solutions.