Forum Financial Management LP Acquires 771 Shares of FedEx Corporation (NYSE:FDX)

Forum Financial Management LP lifted its stake in shares of FedEx Corporation (NYSE:FDX) by 22.4% during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 4,206 shares of the shipping service provider’s stock after acquiring an additional 771 shares during the period. Forum Financial Management LP’s holdings in FedEx were worth $1,025,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in 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. Creative Financial Designs Inc. ADV raised its position in FedEx by 27.3% in the 4th quarter. Creative Financial Designs Inc. ADV now owns 773 shares of the shipping service provider’s stock worth $218,000 after buying an additional 166 shares during the last quarter. Generali Asset Management SPA SGR purchased a new stake in FedEx in the 4th quarter worth approximately $1,656,000. Harvest Fund Management Co. Ltd bought a new position in FedEx in the 4th quarter worth approximately $194,000. Finally, GM Advisory Group LLC lifted its position in FedEx by 22.7% in the fourth quarter. GM Advisory Group LLC now owns 1,136 shares of the shipping service provider’s stock worth $320,000 after buying an additional 210 shares during the last quarter. Institutional investors and hedge funds own 84.47% of the company’s stock.

Wall Street Analyst Weigh In

FDX has been the subject of a number of analyst reports. JPMorgan Chase & Co. boosted their price target on FedEx from $260.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, June 25th. Loop Capital lowered FedEx from a “hold” rating to a “sell” rating and lowered their price objective for the company from $283.00 to $221.00 in a research note on Friday, March 21st. BNP Paribas Exane raised shares of FedEx from an “underperform” rating to an “outperform” rating and set a $270.00 price objective for the company in a research note on Thursday, July 3rd. UBS Group decreased their price objective on FedEx from $311.00 to $297.00 and set a “buy” rating on the stock in a research report on Wednesday, June 25th. Finally, Barclays restated an “overweight” rating and set a $320.00 price objective (down from $330.00) on shares of FedEx in a research report on Wednesday, June 25th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $283.25.

FedEx Stock Down 0.1%

Shares of NYSE:FDX opened at $228.54 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.15 and a debt-to-equity ratio of 0.68. The business has a 50-day moving average price of $226.46 and a 200 day moving average price of $238.85. FedEx Corporation has a 12-month low of $194.30 and a 12-month high of $313.16. The company has a market capitalization of $54.76 billion, a price-to-earnings ratio of 13.54, a PEG ratio of 1.20 and a beta of 1.35.

FedEx (NYSE:FDX) last announced its quarterly earnings results on Tuesday, June 24th. The shipping service provider reported $6.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.98 by $0.09. The business had revenue of $22.20 billion during the quarter, compared to the consensus estimate of $21.86 billion. FedEx had a net margin of 4.65% and a return on equity of 16.34%. During the same quarter last year, the firm posted $5.41 EPS. Sell-side analysts expect that FedEx Corporation will post 19.14 EPS for the current year.

FedEx Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, July 8th. Stockholders of record on Monday, June 23rd were paid a dividend of $1.45 per share. This is a positive change from FedEx’s previous quarterly dividend of $1.38. The ex-dividend date was Monday, June 23rd. This represents a $5.80 annualized dividend and a dividend yield of 2.54%. FedEx’s dividend payout ratio is 34.36%.

Insider Buying and Selling

In other news, Director Marvin R. Ellison sold 3,610 shares of FedEx stock in a transaction dated Wednesday, July 9th. The shares were sold at an average price of $236.94, for a total transaction of $855,353.40. Following the sale, the director directly owned 7,720 shares in the company, valued at approximately $1,829,176.80. The trade was a 31.86% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director R Brad Martin sold 2,123 shares of the business’s stock in a transaction dated Monday, July 7th. The stock was sold at an average price of $241.75, for a total transaction of $513,235.25. Following the completion of the transaction, the director directly owned 8,935 shares of the company’s stock, valued at approximately $2,160,036.25. This represents a 19.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,343 shares of company stock worth $2,228,816. Corporate insiders own 8.87% of the company’s stock.

About FedEx

FedEx Corporation provides transportation, e-commerce, and business services in the United States and internationally. It operates through FedEx Express, FedEx Ground, FedEx Freight, and FedEx Services segments. The FedEx Express segment offers express transportation, small-package ground delivery, and freight transportation services; and time-critical transportation services.