Meeder Advisory Services Inc. Purchases Shares of 7,368 FedEx Corporation $FDX

Meeder Advisory Services Inc. bought a new stake in FedEx Corporation (NYSE:FDX) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 7,368 shares of the shipping service provider’s stock, valued at approximately $2,307,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in FDX. Hollencrest Capital Management acquired a new stake in shares of FedEx in the first quarter worth $25,000. Bayban acquired a new position in shares of FedEx during the first quarter worth about $26,000. EFG International AG acquired a new position in shares of FedEx during the fourth quarter worth about $27,000. Wealth Watch Advisors INC purchased a new stake in shares of FedEx in the third quarter worth about $28,000. Finally, Tucker Asset Management LLC acquired a new stake in shares of FedEx in the fourth quarter valued at about $29,000. 84.47% of the stock is currently owned by institutional investors and hedge funds.

FedEx Stock Down 0.9%

Shares of NYSE:FDX opened at $328.43 on Wednesday. The firm has a market cap of $77.70 billion, a PE ratio of 17.74, a price-to-earnings-growth ratio of 1.72 and a beta of 1.30. The company has a fifty day simple moving average of $319.36 and a 200 day simple moving average of $351.63. The company has a current ratio of 1.48, a quick ratio of 1.44 and a debt-to-equity ratio of 0.74. FedEx Corporation has a 12-month low of $177.05 and a 12-month high of $345.36.

FedEx (NYSE:FDX) last posted its quarterly earnings data on Tuesday, July 21st. The shipping service provider reported $5.88 EPS for the quarter. The firm 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%. On average, equities research analysts anticipate that FedEx Corporation will post 17.6 EPS for the current fiscal year.

FedEx Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 7th. Stockholders of record on Monday, June 22nd were given a dividend of $1.22 per share. The ex-dividend date of this dividend was Monday, June 22nd. This represents a $4.88 annualized dividend and a dividend yield of 1.5%. FedEx’s dividend payout ratio (DPR) is presently 26.36%.

Insider Buying and Selling

In related news, Director Paul S. Walsh sold 5,042 shares of the business’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total value of $1,636,431.52. Following the completion of the sale, the director directly owned 16,359 shares of the company’s stock, valued at $5,309,477.04. The trade was a 23.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on the company. Citigroup initiated coverage on FedEx in a research report on Wednesday, July 15th. They set an “outperform” rating on the stock. UBS Group dropped their price objective on shares of FedEx from $445.00 to $350.00 and set a “buy” rating on the stock in a research note on Wednesday, June 24th. Wells Fargo & Company reduced their target price on shares of FedEx from $450.00 to $425.00 and set an “overweight” rating on the stock in a research report on Wednesday, June 17th. JPMorgan Chase & Co. restated a “buy” rating on shares of FedEx in a research note on Friday, June 26th. Finally, Deutsche Bank Aktiengesellschaft lowered shares of FedEx from a “buy” rating to a “hold” rating in a report on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, seventeen have given a Buy rating, ten have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $350.54.

About FedEx

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.