Sapient Capital LLC Takes $620,000 Position in FedEx Corporation $FDX

Sapient Capital LLC purchased a new stake in FedEx Corporation (NYSE:FDX) during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,733 shares of the shipping service provider’s stock, valued at approximately $620,000.

A number of other hedge funds have also bought and sold shares of FDX. Norges Bank acquired a new position in shares of FedEx during the 4th quarter worth approximately $859,085,000. Boston Partners acquired a new stake in FedEx during the third quarter worth approximately $468,195,000. AQR Capital Management LLC raised its holdings in FedEx by 169.2% in the 3rd quarter. AQR Capital Management LLC now owns 2,733,905 shares of the shipping service provider’s stock valued at $638,203,000 after acquiring an additional 1,718,278 shares in the last quarter. Waddell & Associates LLC raised its holdings in FedEx by 164.0% in the 4th quarter. Waddell & Associates LLC now owns 1,188,140 shares of the shipping service provider’s stock valued at $343,206,000 after acquiring an additional 738,122 shares in the last quarter. Finally, Amundi lifted its position in shares of FedEx by 181.9% during the 1st quarter. Amundi now owns 1,015,844 shares of the shipping service provider’s stock valued at $361,823,000 after acquiring an additional 655,504 shares during the period. 84.47% of the stock is owned by institutional investors.

Insider Buying and Selling

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the 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 completion of the sale, the director owned 16,359 shares of the company’s stock, 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 SEC, which can be accessed through this hyperlink. 0.53% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Wall Street Zen upgraded FedEx from a “buy” rating to a “strong-buy” rating in a research report on Saturday, June 6th. Jefferies Financial Group initiated coverage on shares of FedEx in a research report on Tuesday, June 23rd. They set a “buy” rating and a $200.00 price objective for the company. The Goldman Sachs Group reduced their price objective on shares of FedEx from $405.00 to $375.00 and set a “buy” rating on the stock in a research note on Monday, June 1st. Barclays cut their price target 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, JPMorgan Chase & Co. reiterated a “buy” rating on shares of FedEx in a research report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $350.54.

FedEx Price Performance

Shares of NYSE:FDX opened at $313.94 on Wednesday. The firm has a market cap of $74.28 billion, a PE ratio of 16.96, a price-to-earnings-growth ratio of 1.59 and a beta of 1.30. The firm’s fifty day moving average is $325.26 and its 200-day moving average is $350.42. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.44 and a current ratio of 1.48. FedEx Corporation has a 52 week low of $173.36 and a 52 week high of $345.36.

FedEx (NYSE:FDX) last issued 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 for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. Sell-side analysts predict that FedEx Corporation will post 17.6 earnings per share for the current year.

FedEx Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 7th. Investors of record on Monday, June 22nd were paid a $1.22 dividend. This represents a $4.88 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is currently 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.