Csenge Advisory Group Makes New Investment in FedEx Corporation $FDX

Csenge Advisory Group acquired a new stake in FedEx Corporation (NYSE:FDX) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,197 shares of the shipping service provider’s stock, valued at approximately $688,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in FedEx by 12.8% during the 4th quarter. Brighton Jones LLC now owns 1,825 shares of the shipping service provider’s stock worth $514,000 after purchasing an additional 207 shares during the last quarter. Empowered Funds LLC grew its position in shares of FedEx by 78.9% during the 1st quarter. Empowered Funds LLC now owns 10,311 shares of the shipping service provider’s stock worth $2,514,000 after buying an additional 4,548 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of FedEx during the second quarter worth approximately $586,000. Quantbot Technologies LP acquired a new position in FedEx in the second quarter valued at approximately $186,000. Finally, Jump Financial LLC bought a new position in FedEx in the second quarter valued at approximately $456,000. 84.47% of the stock is owned by institutional investors and hedge funds.

FedEx Stock Performance

Shares of FDX stock opened at $328.07 on Thursday. 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 $177.05 and a 52 week high of $345.36. The company’s 50 day moving average price is $319.53 and its two-hundred day moving average price is $351.69. The company has a market capitalization of $77.65 billion, a P/E ratio of 17.72, a price-to-earnings-growth ratio of 1.69 and a beta of 1.30.

FedEx (NYSE:FDX) last released its quarterly earnings results on Tuesday, July 21st. The shipping service provider reported $5.88 earnings per share for the quarter. FedEx had a net margin of 4.68% and a return on equity of 16.49%. The company had revenue of $23.26 billion during the quarter. On average, analysts expect that FedEx Corporation will post 17.6 earnings per share for the current fiscal 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 given a $1.22 dividend. This represents a $4.88 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend was Monday, June 22nd. FedEx’s payout ratio is currently 26.36%.

Analysts Set New Price Targets

Several brokerages have commented on FDX. HSBC dropped their target price on shares of FedEx from $360.00 to $289.89 and set a “hold” rating for the company in a research report on Monday, June 1st. Seaport Research Partners assumed coverage on FedEx in a research note on Wednesday, May 27th. They set a “buy” rating for the company. Wall Street Zen upgraded FedEx to a “hold” rating in a report on Saturday, August 8th. BNP Paribas Exane reduced their target price on FedEx from $335.00 to $269.76 and set a “neutral” rating on the stock in a report on Tuesday, June 2nd. Finally, Stephens upgraded FedEx to a “strong-buy” rating in a research report on Wednesday, July 8th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, nine have issued a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $350.54.

Insiders Place Their Bets

In other FedEx news, Director Paul S. Walsh sold 5,042 shares of the stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $324.56, for a total transaction of $1,636,431.52. Following the completion of the transaction, the director owned 16,359 shares in the company, 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 Securities & Exchange Commission, which is accessible through this link. Insiders own 0.53% of the company’s stock.

FedEx 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.